JERUSALEM, November 29 /PRNewswire/ -- Jerusalem Global Ventures today announced that it will soon be launching JGV Growth Equity Fund, L.P., a $200 million fund. The Fund will invest in private Israeli related technology companies that are on a trajectory to IPO within three years and have a proven business model. First closing is scheduled for April 2008.
Dr. Shlomo Kalish, who founded Jerusalem Global in 1994, notes that, "Unlike the early stage VC investment model, where one expects multiple write-offs for every 'home run', this Fund's business model should produce quicker turnaround of money, lower risk, and more predictable returns." In 2007, Dr. Kalish was the only Israeli in the Top 50 of the Forbes Midas list.
Jerusalem Global currently manages two sector funds launched in 1999. When compared to peers of the same vintage, one of those funds is at the top in terms of both cash distribution and IRR. Jerusalem Global's spokesman said, "We believe the record of the second fund will be as good or better when the remaining portfolio companies are exited."
Dr. Yoseph Linde, who co-managed the prior Funds, commented, "Over the last several years, in the course of making investments for our early-stage VC fund, we were offered numerous opportunities to invest in late-stage technology companies. Although we rejected most of these offers as they did not fit our primarily early stage focus, we did make two such investments resulting in two successful exits. Our portfolio company, Mellanox, which had a successful IPO earlier this year, would be a perfect example of companies we'd fund." Dr. Linde was a successful serial entrepreneur before joining Jerusalem Global Ventures.
The Fund expects to invest $5-20 million in companies which late-stage
financing needs of $10-50 million. Dr. Kalish said, "Think of this Fund as
a barbell. On one end we have foreign financial institutions that do not
have staff on the ground in Israel but have exp
|SOURCE Jerusalem Global Ventures Ltd.|
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