Israel venture capital firm, Magma Ventures Partners has closed USD 150 million for its fourth fund led by existing partners and new investors. The raised fund will be used to invest in seed and series A rounds for early stage Israeli start-ups with investment sized between USD 500,000 and USD 6 million.
Its current portfolio is having 26 companies including crowdsourced navigation app Waze (acquired by Google), mobile analytics company Onavo (acquired by Facebook), and Provigent (acquired by Broadcom).
As TechCrunch reported, last year, the firm closed a USD 100 million + fundraising for its third fund and including this round, it is having a total capital of USD 500 million till date. It had made investment in various digital areas including mobile, cloud, new media, SaaS, ecommerce, UGC and cyber security.
Commenting on the fourth fund in a statement, Yahal Zilka co-managing partner said: “We are very pleased with the interest, trust and support of leading Limited Partners (LP’s) in Magma and its activities with Israeli entrepreneurs. We are fortunate to partner with the most sophisticated global technology investors from the US, Europe, Asia and Israel. The strong LP interest provided for an expedited and swift fund raising process during the mid to late summer time frame.”Category Business Investments Startups