TEL AVIV, Israel, September 30, 2014 /PRNewswire/ —
Magma is the first backer of successful opportunities including: Waze, Onavo, DesignArt, Provigent, Hola, Valens, Magisto, TabTale, Appsflyer and CorePhotonics
Magma Venture Partners, a leading Israeli early stage technology-focused venture capital fund with US$500 Million under management, today announces the completion of fundraising for Magma Venture Capital IV with $150 million in new committed capital. The fund received strong interest and was oversubscribed within weeks of announcement. This fund comes on the heels of a third fund raised in early 2012.
Fund IV will continue Magma’s strategy and investment focus of investing across areas of information, communication technology including Mobile, Cloud, New media, SaaS, e-commerce, UGC (User Generated Content) and Cyber Security. The fund plans to invest exclusively with Israeli entrepreneurs, primarily in Israeli based technology teams, in their earlier stages of development.
The new fund continues the predecessor fund’s focus and activities and is expected to begin investing in early 2015 after Magma III reaches investment capacity. The fund expects to invest in seed and series A financing rounds, in approximately 25-30 opportunities with typical investments of US$ 0.5 – 6.0 million.
Magma Venture Partners, founded in 1999 was the first to partner and invest with a long list of leading Israeli technology success stories in the mobile, internet, software and semi-conductors domains. Among these acquisitions are Waze, acquired by Google (NASDAQ: GOOG); Onavo acquired by Facebook (NASDAQ: FB); Provigent, acquired by Broadcom (NASDAQ: BRCM); Wintegra, acquired by PMC-Sierra (NASDAQ: PMCS); and DesignArt, acquired by Qualcomm (NASDAQ: QCOM). Additional distinguished investments of Magma include Hola, Valens, Magisto, TabTale, Appsflyer and CorePhotonics, among others.
Magma IV received strong support in the oversubscribed fund from existing Limited Partners and also attracted quality first-time investors. Commenting on the fund closing, 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 USA, 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."
Modi Rosen, Co-Managing Partner said, "The new fund and the expanded team will enable us to continue and accelerate what we do best: identifying large opportunities, partner and work closely with exceptional and bright entrepreneurs to create new business categories and to lead these new fields while building large, strong global players that spearhead these categories.
Magma Venture Partners was founded in 1999 and is one of Israel’s leading Venture Capital funds. The fund is led by Yahal Zilka, Modi Rosen (co-founders), Shraga Katz, Zvi Limon, Shahar Tzafrir, Ran Achituv and Adi Yarel-Toledano. Magma successfully identified and garnered new category leaders in communications technology, social media and semiconductors. It has done it through its focused strategy and pursuit of a clear investment strategy of investing with outstanding entrepreneurs and exceptional teams that develop disruptive technology and address large market opportunities. The Magma team maintains close working relationships with its entrepreneurs, portfolio companies, investors, and global technology leaders.
For further information, please visit our website: http://www.magmavc.com
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