Vintage raises $161m for new VC fund

With the capital raised for the sixth fund, Vintage will manage $700 million.

Vintage Investment Partners today announced the $161 million closing of its sixth fund. Vintage managing partner Alan Feld works alongside Viola Group, run by Shlomo Dovrat, Harel Beit-On, and Avi Zeevi, which restructured a few months ago. With the capital raised for the sixth fund, Vintage will manage $700 million.

Feld founded Vintage in 2003 with the late Aharon Dovrat and Shlomo Dovrat. Feld's partners at Vintage are Abe Finkelstein, Amit Frenkel, and Hagai Goldhirsh. Vintage makes slightly more complex investments in the Israeli high-tech space. It already manages two secondary funds, a co-invest fund (which makes joint investments with the firm's other venture capital funds in companies' last financing rounds), and a fund of funds.

Vintage's fundraising was quite successful given the difficulty Israeli venture capital funds are having in attracting investors. It says that it originally planned to raise $150 million, adding that the investors are Israeli and foreign financial institutions, including family offices. Feld says that the firm's new relationship with Viola Group is "strategic", and that "the climate for fundraising is difficult", but that the financing "went fairly well."

Published by Globes [online], Israel business news - www.globes-online.com - on June 5, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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