Gemini managing partner Yossi Sela: Gemini continues to raise capital for its fifth fund.
Sources inform ''Globes'' that Gemini Israel Funds has made its first closing of $140 million for its fifth fund. The company plans to raise $200 million altogether.
Gemini currently manages $686 million, including the money already raised for its new fund. Gemini is the second Israeli venture capital fund to raise in a new fund in the current cycle; Pitango Venture Capital raised $300 million for its fifth fund a few months ago.
Gemini managing partner Yossi Sela confirmed the report. He said, "Gemini has indeed made the first closing and is continuing to raise capital for its fifth fund. Gemini will continue its stable strategy and mainly investment in early-stage companies."
Published by Globes [online], Israel business news - www.globes-online.com - on January 2, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008