Genesis Partners completes $150m 3rd fund

Investors in the new fund include the pension funds of General Electric and IBM.

After eighteen months of effort, Israel venture capital fund Genesis Partners announced today the completion of a $150 million capital raising round for its third fund. Genesis, which manages over $500 million in capital, completed its new fund six months after raising $100 million.

Investors in the new fund include international investment institutions, such as the pension funds of General Electric (NYSE: GE) and IBM (NYSE: IBM) and the investment funds of the government of Singapore and CIBC. Genesis says that 70% of the investors in its previous funds also invested in the current fund. Now that its fund has been completed, Genesis will continue focusing on investments in Israeli software, communications, and semiconductor companies in the early growth stages.

Published by Globes [online] - www.globes.co.il - on September 21, 2005

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