Sequoia Capital is set to complete raising a new $200 million venture capital fund for Israel investments. Sequoia Capital Israel V LP will be an early-stage fund focusing mainly on information technology start ups. Raising of the funds will be completed in September.
Sequoia Capital, is a veteran venture capital fund based in Silicon Valley currently celebrating its 40th anniversary. Over the years, it has backed some of the biggest names in the technology industry including Apple Inc., Yahoo! Inc., Google Inc., LinkedIn and Cisco Systems.
The new Israeli venture capital fund is one of three new funds being raised by Sequoia. The others will focus on the US and China and the total of the three funds will be $975 million.
The firm has always raised separate funds for Israel and has $580 million in its previous four Israeli funds. The last two Sequoia Israel funds have each been $200 million in size, while its first fund was just $30 million in size, and its second fund was $150 million. Investments have included Provigent, acquired by Broadcom, Attenti Holdings acquired by 3M, Snaptu acquired by Facebook, Storwize acquired by IBM, BitBand acquired by Motorola, and Amobee acquired by SingTel.
Published by Globes [online], Israel business news - www.globes-online.com - on August 23, 2012
© Copyright of Globes Publisher Itonut (1983) Ltd. 2012
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