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Denver-based funding agency Ibex Buyers has introduced the closing of its fourth Israel fund, Ibex Israel VC II LP, amounting to $106 million, for funding in early-stage Israeli startups. Apart from investing in younger Israeli corporations, Ibex additionally invests in listed Israeli corporations by means of its hedge funds. For the reason that launch of its first Israel-focused fund in 2012, Ibex has made 40 early and progress stage investments in Israeli startups. Among the many agency’s portfolio corporations are Visionary.ai, Honeycomb, Appwrie, BeamUp, and Weka.
Ibex’s earlier fund, additionally centered on early-stage Israeli startups, was raised in 2020, and amounted to $100 million.
Ibex founder and chief funding officer Justin Borus stated, “Doubling down on Israel underscores our dedication to the Israeli ecosystem as a number one marketplace for expertise. Regardless of the continuing conflict and difficult international macroeconomics, our LPs acknowledge the chance to make outsized returns exactly from alternatives akin to these. A lot of the world’s biggest improvements come as a direct results of conflict and battle and we consider this time might be no completely different.”
In an interview with “Globes” in 2022, Borus stated, “We all know that the sexiest and most fascinating investments in Israel are in privately-held and public progress expertise corporations.” In the identical interview, he stated, “We like transferring between non-public and public investments.” He additionally stated that following a four-day go to to Israel in 2011, impressed by the guide “Begin-up Nation” by Dan Senor and Saul Singer, he began to channel the agency’s investments to Israel. “In Israel there was every part I really like in small corporations – fewer buyers have an interest, and the potential for revenue is larger. As well as, whereas startups in Silicon Valley developed apps for photographing cats, in Israel the businesses solved important issues.”
Commenting on the brand new fund, Ibex Buyers accomplice Nicole Priel stated, “Why Israel? Why now? The solutions couldn’t be any extra clear. We firmly consider that the Israeli tech entrepreneur possesses an innate sense of drive, creativity, and perseverance required to show concepts into actuality. We keep our conviction that that is an opportune time to be constructing ventures and are dedicated to partnering with formidable entrepreneurs from inception as they construct the main corporations of tomorrow.”
Ibex’s Israel crew is led by Priel, who focuses on early stage investments, and Gal Gitter, who focuses on progress stage and secondary investments in areas akin to cybersecurity, cloud safety, fintech, insurtech, and others. The Israel workplace has lately added Aaron Rinberg as a accomplice and Alon Cinamon as an affiliate, bringing it to a complete of seven individuals.
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Borus based Ibex Buyers in 2003. The agency at present has some $1 billion below administration.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on February 21, 2024.
© Copyright of Globes Writer Itonut (1983) Ltd., 2024.
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