Israel-Based Magma Seeking $100M for Third Fund

Magma Venture Partners, an Israeli early stage technology investor, is looking to raise $100 million for a planned third fund, according to a securities filing.

The Tel Aviv-based firm, formerly known as Magnum Venture Partners, raised its last fund, also for $100 million, in 2006, according to Thomson Reuters.  Portfolio companies include Nipendo, developer of a trading community for businesses, GreenSQL, a provider of database security tools, and Waze, a traffic and navigation app maker.

Magma has recorded a few exits in the last couple of years as well. Provigent, a Herzelia, Israel-based developer of “system-on-a-chip” products for wireless vendors, sold to Broadcom in March for $313 million. Wintegra, a semiconductor company, sold to PMC-Sierra last year in a transaction valued at up to $274 million. Additionally, Trivnet, a provider of mobile commerce services, sold to Gemalto, a French digital security company, in a 2010 transaction reportedly valued at $40 million.

Modi Rosen, a Magma co-founder and managing partner, is the only partner at the firm listed in the filing. Other partners listed on the firm’s website include Yahal Zilka, managing partner and co-founder, Shraga Katz, general partner, and Zvi Limon, general partner.

Magma partners could not be reached for comment.