Natalie Refuah

Natalie Refuah

Partner at Viola Growth

Natalie is a Partner at Viola Growth. She joined Viola Growth as an Associate when it was first founded in 2008, eventually becoming a Principal and in 2016 was promoted to Partner. Natalie is an experienced investment professional with a vast network and connections in the Israeli high-tech and the VC/PE industry.


Director of Investor Relations at Evergreen Venture Partners, an Israeli venture capital fund, where she was responsible for managing relations with investors, overseeing the fund’s marketing activities, and assisting in the raising of a $200 million fund

Associate in the Office of the Legal Advisor in the Israeli Ministry of Foreign Affairs where she was in charge of Economic Bilateral and Multilateral International Agreements of the Israeli Government.

Member of the Global Consulting Practicum Program staff of the Recanati School of Business Management in Tel Aviv University.

Natalie holds a special BA in Law and International Relations from the Hebrew University in Jerusalem, and an MBA (Summa Cum Laude) from Tel Aviv University. She is a member of the Israel Bar Association.


As a growth investor, she gets to see (virtually every day) new technologies in many different areas and meet with the entrepreneurs behind them. “The variety and learning curve is exciting! I am most excited by the areas of analytics and BI and I am a fan of Automotive, IoT and New Media companies. But really – I like all of ‘my kids’ equally.”

She is the middle of 3 children: “I believe that being the middle child in my family has always pushed me forwards, because I had to work extra hard to achieve real ‘status’ in the house through excellence. Funnily, both my brother and sister also work in the technology investment landscape, each from a different perspective.”

She’s a cool cucumber under pressure: “My strongest weapon is my ability to stay calm and not to get nervous under pressure. My life experience has taught me that when really bad things hit you, that’s when it’s truly awful. Until then, everything else is nonsense. I live by this rule.”

She might as well be a Buddhist: “My husband is studying Buddhism. When we speak about it, I always reach the same conclusion – which is that I must have been a Buddhist in my previous life, as I seem to have already live by Buddhist teachings all my life anyway.”

Her tip to entrepreneurs on her investment strategy: “Although I smile a lot, I’m pretty tough in due diligence and in negotiations. I don’t like manipulations. Honesty and truth are paramount for me. And I appreciate people with good values.

July 9, 2017 | Natalie Refuah

[VIDEO] Israel Growth Summit: “The State of Growth Companies in Israel” (Shlomo Dovrat & Harel Beit-On)

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October 19, 2016 | Natalie Refuah

Why the fact that women hold barely any senior roles in Private Equity is mostly bad for… Private Equity

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January 2, 2015 | Natalie Refuah

A founder, a VC and a Private Equity investor walk into a bar…

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