CreditEase raises 2nd Israel investment fund

Startups
Startups

China's CreditEase Wealth Management has now raised $62.2 million in its two Israeli startup investment funds.

China's CreditEase Wealth Management, has announced the first closing of its second fund dedicated to investing in Israeli tech startups. The China-based fund - CreditEase Israel Innovation Fund (CEIIF) has closed $32.2 million and the final target of CEIIF II is $50 million. CreditEase Israel Innovation Fund I, which closed in October 2015, raised $30m.

Led by Benjamin Weiss and Tayman Kan, Managing Partners, CEIIF II will look to invest in Israel-based startups operating in six sectors: Virtual and Augmented Reality (VR/AR); Artificial Intelligence and Machine Learning, Digital Healthcare, Internet of Things (IoT), Cloud and Data Storage, and Advanced Manufacturing.

Established in 2015, CEIIF is a venture capital firm that provides support to its portfolio companies, leveraging its extensive relationships in China.

Published by Globes [online], Israel business news - www.globes-online.com - on January 15, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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