New Israel focused funds grab the headlines
SKY Israel private equity firm has closed a USD 350 million fourth fund, bringing its total under management to USD 800 million. Founded in 2005, SKY focuses its attention and investments on mature Israeli companies.
Meanwhile, Israeli VC firm, Entrée Capital closed its own fourth Israel-focused early-stage fund and its second Israel-focused early growth fund, bringing its AUM to USD 1 billion. The new funds will invest primarily in startups engaged in deeptech, fintech, SaaS, Web 3.0 (Crypto/Blockchain), data/cloud Infrastructure, and DevOps, as well as consumer and foodtech. Entrée Capital Israel Early-Stage Fund IV will provide pre-seed and seed funding to Israeli start-ups targeting deals of USD 500,000 to USD 6 million.
Entrée Capital was indeed one of the six Israeli-based or focused venture capital firms that received up to USD 20 million from the UAE sovereign-wealth fund, Abu Dhabi’s Mubadala Investment (“ADMI”). According to a report in the Wall Street Journal, ADMI has invested USD 100 million in Israeli venture capital firms, including Mangrove Capital Partners, Aleph Capital, Viola Ventures, Pitango and MizMaa. ADMI manages USD 250 billion in assets
