New Fund to Continue Carmel Strategy of Backing Visionary Israeli Entrepreneurs
Focused on Building Leading Global Technology Companies
Aviv, October 22, 2014. Carmel Ventures, a leading Israeli
venture capital firm and a member of the Viola Group, today announced the final
closing of its latest investment fund, Carmel Ventures IV (“Fund IV”), with
total commitments of $194 million. Fund IV, like its predecessor funds, will be
invested in early-stage transformative technology companies in high growth sectors
that include enterprise software, data center infrastructure, big data, cyber
security, FinTech, digital media and consumer applications.
Carmel began investing out of the new fund in January 2014 and has made investments
in PlayBuzz, LuckyFish and three other promising early
stage technology companies.
IV was raised with equity commitments from global institutional investors that
include a significant number of return investors as well as selected new
investors. In addition, several leading Asian strategic investors have joined
the new fund including Baidu, Ping-An, and Qihoo360 amongst others. Fund IV is led by six
partners; Shlomo Dovrat, Avi Zeevi, Ori Bendori, Ronen Nir, Daniel Cohen and
Itzik Avidor. As in previous funds, Fund IV includes a significant equity
investment by Carmel’s General Partners and affiliates.
“Technology entrepreneurs and the venture
industry in Israel have become more focused on building significant companies. Carmel has been at the forefront of these developments
and is involved with several world class companies coming out of Israel,” said Kathryn Mayne, Managing Director of Horsley Bridge
Partners. “We value our strong relationship with Carmel Ventures and are
pleased to continue our successful partnership with them in Fund IV.”
“We are delighted to be making our
first investment in an Israeli Venture fund with Carmel Ventures,” said Daniel Tu, Group Chief Innovation Officer at Ping An Group
“Carmel offers us reliable access to Israeli innovation and we look
forward to partnering with them.”
“Building global, significant Israeli technology companies is what we’re
passionate about at Carmel," said Shlomo Dovrat, Co-Founder and
General Partner at Carmel Ventures. “We are committed to backing visionary
Israeli entrepreneurs who aspire to transform industries and markets on a
global scale, and build world class companies. We hope to back those teams
early on and be helpful to them as they scale up. We are fortunate to work with
many exceptional entrepreneurial teams; companies such as ironSource, Outbrain
and Payoneer are transforming entire industries, generating significant
revenues and have become global leaders.”
Today, Carmel Ventures manages over $800 million of investor capital and
is invested in 35 active companies.
About Carmel Ventures:
With over $800 million currently
under management, several successful exits, and a growing portfolio of
promising companies, Carmel is among Israel’s top-tier venture capital funds.
Founded in 2000 by pioneers and leaders of the Israeli high tech industry, Carmel
provides significant capital and active support through the growth cycle of its
portfolio companies and is recognized as a true company building fund in
Carmel is a member of the Viola Group,
Israel’s premier technology-focused PE group with over $2B under management. For
more information, visit www.carmelventures.com.