Carmel Closes Third Fund

Carmel Ventures, an Israeli venture capital firm, has closed its third fund with $235 million in capital commitments.


Limited partners included J.P. Morgan, Horsley Bridge, Calpers, the Oregon Public Employees Retirement Fund, The Partners Group, LGT Capital Partners, VPartners, NY State/Hamilton Lane, Goldman Sachs, Pomona Capital, Vintage Venture Partners, Wilshire, HRJ Capital, Bonora, SiemensVenture Capital, HarbourVest, FLAG, Portfolio Advisors and Knightsbridge.




Carmel Ventures, one of Israel's leading Venture Capital firms, announced today the establishment of Carmel Ventures III with commitments of $235 million.


Carmel Ventures III General Partners are: Shlomo Dovrat, Avi Zeevi, Rina Shainski and Ori Bendori.


Carmel Ventures III will follow the Carmel Ventures investment strategy of focusing on seed and early stage Information Technology investments. Carmel ventures will continue to invest in and support potential category leaders in various fields of the global Information Technology including: Software, Internet, Semiconductors, Communications, Mobile & Wireless and Storage.


Carmel Ventures III investors include leading global institutional investors who are investors in Carmel Ventures previous funds such as: J.P. Morgan, Horsley Bridge, A Leading Asian Government Agency, Grove Street Advisors representing Calpers (California Employees' Retirement System), the Oregon Public Employees Retirement Fund and a private family office, The Partners Group, LGT Capital Partners, VPartners, NY State/Hamilton Lane, Goldman Sachs, Pomona Capital, Vintage Venture Partners, Wilshire, HRJ Capital, Bonora and SiemensVenture Capital. In addition, several leading global investors including HarbourVest, FLAG, Portfolio Advisors, and Knightsbridge have joined Carmel Ventures' investors.


“We are pleased and appreciative of the strong support we received from such a high quality global investors group,” said Shlomo Dovrat and Avi Zeevi, General Partners & Co-Founders of Carmel Ventures. “The strong support enabled an expeditious process and allowed us to continue and work with current and future portfolio investments.”


“We commit to consistently apply our investment strategy and continue our work with leading entrepreneurs to help them build global category leaders and generate long term capital gains for our investors and for the entrepreneurs.”


Kathryn Abbott, Managing Partner of Horsley Bridge said, “We are very pleased to continue our support of the Carmel Ventures team in this new fund. The team's operating experience and international networks combined with their goal of transforming Israeli technology into global companies are key ingredients in the formula of successful venture capital investing.”


Thomas Kristensen of LGT Capital Partners said, “We remain committed to Israeli venture capital. As evidenced by the top quartile performance, Carmel's hands on approach and deep networks, position the team very well in the market. We are very happy to continue our relationship with Carmel for their third fund.”


About Carmel Ventures


Founded in 2000 by pioneers and leaders of the Israeli high tech industry, Carmel Ventures, with over $600 million under management, is one of Israel's leading venture capital funds focused on Information Technology investments.


Led by former entrepreneurs and executives of the software and communications industries, Carmel provides active, hands-on support to its portfolio companies. Carmel headquartered in Herzliya, Israel and enjoys a worldwide network of industry, strategic and investment resources. Carmel provides significant capital and support through the growth cycle of its portfolio companies and is recognized as a true company building fund in Israel. Carmel's current portfolio is comprised of some of the most promising companies in their respective domains and they are led by an outstanding group of entrepreneurs.


Carmel is an affiliate of the Viola Partners Group, a leading innovative private equity investment group with over $1.5B under management focused on technology-based growth opportunities in Israel.