The investment will be in the tens of millions of dollars.
Chinese Internet giant Alibaba is giving a vote of confidence in Israeli venture capital. It was reported today that the company will invest a sum amounting to tens of millions of dollars in Israel venture capital firm JVP. The connection between the two sides was made by JVP managing partner Kobi Rozengarten, who runs the firm together with Gadi Tirosh and Raffi Kesten.
A 20-strong delegation from Alibaba is currently in Israel. Yesterday, they visited JVP's cyber incubator in Beersheva, and today they are visiting the firm's offices in Jerusalem. The delegation is also due to meet other companies, unconnected to JVP's portfolio.
The connection between Alibaba and JVP is based on a series of successes that the Israeli venture capital firm has posted. It led the successful flotation of cyber security company CyberArk, now traded at a market cap of $1.4 billion on Nasdaq. Two weeks ago, "Globes" revealed that JVP made an impressive exit when it sold CyActive for $60 million. The investment in CyActive totaled $2 million, so that the sale gave a return of 30 times on the money.
Published by Globes [online], Israel business news - www.globes-online.com - on March 23, 2015
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Kobi Rozengarten