Israel Secondary Fund (ISF) said on Monday it has raised $100 million for its second fund, ISF II, from Israeli and foreign institutions and family offices.
Investors include Israeli investment houses Halman-Aldubi, Altshuler Shaham and IBI and Bank Hapoalim. The new fund has completed four investments.
ISF is a secondary fund that acquires positions in Israeli funds and minority holdings in private companies from investors, founders and other shareholders, providing liquidity to the venture capital and private equity market.
Over $30 billion have been invested in Israeli funds and tech firms in the last decade, ISF managing partner Dror Glass said.
“A large portion of today’s companies stay private for longer periods, and build significant business activity before going public or being acquired,” he said. “Therefore, there is a growing need by entrepreneurs and investors for liquidity in the years preceding an exit.”