It’s not very often that two Israeli venture funds complete closing for additional funds, but after all it shouldn’t surprise anyone. Israel has been ranked among the four most preferred global target markets for US venture capital funds and earmarked for high-quality deal flow, according to a global survey by accounting and consultancy firm Deloitte Brightman Almagor and the Israel Venture Association.
Two funds reported closings today:
1) Gemini Israel Funds has closed $140 million for its fifth fund. The company plans to raise $200 million altogether. All together this would put Gemini right under $700 million under management.
‘Globes’ reports that Yossi Sela, a managing partner at Gemini confirmed the report.
“Gemini has indeed made the first closing and is continuing to raise capital for its fifth fund. Gemini will continue its stable strategy and mainly investment in early-stage companies.”
2) EE Times reports that Taiwan is helping Giza Venture Capital raise capital for its fifth fund. Israel-based Giza Ventures in planning to raise $150 million, of which $30 million are due to come from the Taiwan government’s National Development Fund (NDF). Giza was established in 1992 and currently manages four funds of approximately $500 million under management.
Gemini and Giza are not alone. Pitango Venture Capital recently raised $300 million for its fifth fund a few months ago.
I'm a former general partner at google ventures, head of Google for Entrepreneurs in Europe and founding head of Campus London, Google's first physical hub for startups.
I'm also the founder of Techbikers, a non-profit bringing together the startup ecosystem on cycling challenges in support of Room to Read. Since inception in 2012 we've built 11 schools and 50 libraries in the developing world.
