ISF Raises $312 Million for a 3rd Secondary Fund Focusing on the Israeli High-Tech Market
- ISF manages over half a billion dollars across three funds. The ISF funds acquire holdings in start-up companies and venture capital funds.
- The Fund is backed by major institutional investors from Israel, Europe, and the U.S.
TEL AVIV, Israel, June 13, 2022 /PRNewswire/ -- ISF (Israel Secondary Fund) announced today that it has raised its 3rd fund totaling 312 million dollars. In 2017, ISF raised its 2nd fund of 100 million dollars and currently manages over half a billion dollars focused on secondary transactions in the Israeli technology market.
The investors who participated in the current fundraising include several of Israel's largest institutional investors, such as Migdal Insurance, Altshuler Shaham, Bank Hapoalim, as well as leading institutions, pension funds, endowments and family offices from Europe and the U.S.A.
According to Dror Glass, Managing Partner and Founder of ISF, "In recent years, ISF led over 80 secondary transactions in technology companies and venture funds. The timing of the current fundraising is particularly significant, considering the shifting market trends after a decade of unprecedented growth."
"We expect the demand for secondary transactions and liquidity to increase significantly, especially given the growing uncertainty in the High-Tech industry and possible delays of IPOs and acquisitions. ISF is a leader in the global tech-secondaries market, and we believe that with our new fund, we will play a central role in the local investments sphere."
Dror also referred to the fund's flexible and efficient investment policy: "Our unique model allows us to provide a creative and quick response to all liquidity needs. We acquire minority shares in private technology companies from founders, employees, and investors and can participate in these companies follow-on rounds. We also acquire venture fund holdings and conduct GP restructurings."
"Our guiding principle is reaching a Win-Win-Win deal for the seller, for ISF, and above all – for the company and its employees."
More than 80 transactions and 50 exits
ISF (Israel Secondary fund) is a leading technology-focused secondary fund headed by Dror Glass, Nir Linchevski, and Eva Hubsman.
ISF was established in 2008 by Dror Glass and Shmuel Shilo, pioneers in the secondary field in Israel.
ISF provides liquidity in the inefficient private tech market, performing quick and creative transactions acquiring holdings in private companies and venture capital funds. ISF's target audience is entrepreneurs, investors, and employees who hold options and shares in companies in addition to limited partner stakes in funds.
ISF invested directly and indirectly in approximately 220 companies. Its portfolio includes many successful companies and funds, including Myheritage, Aidoc, WSC, Innovid, Valens, Pixellot, Earnix, Papaya Gaming, Verbit, Arbe, Yotpo, Waze, Glilot, Vertex, Coralogix, Solaredge and more.
Nir Linchevski, a Managing Partner at ISF, adds: "ISF has played a crucial role in Israel's secondary market evolution.
"The path of a start-up towards a significant exit may take ten years or more. Allowing entrepreneurs, employees, and investors to realize significant value along the way - and not just at the endgame - enables them to enjoy the fruits of their labor at an earlier stage while company's management remains focused on long-term growth.
"Our model ensures that all parties - investors, companies, and employees – profit, which is key to continued market growth."
About the ISF partners:
Dror Glass has been an active participant in the Israeli secondary market since 2001. Dror served as a Managing Partner at Orma Investments of the IDB Group, an Investment Manager at the Israel Corporation, and an Investment Banker at Evergreen (the Israeli representative of Robertson Stephens).
Dror was also Executive Director of the prestigious Wharton-Recanati M.B.A. Program at Tel Aviv University.
Nir Linchevski joined ISF in 2014 after serving as a Founding Partner in the private equity investment company Shiraz Investments and as chairman of the Altshuler Shaham Asset Management between 2007-2012.
Nir previously served as Managing Director in U,S, based venture capital fund Vantage Point Capital Partners, and as a General Partner in the Israeli venture capital fund Formula Ventures.
Eva Hubsman joined ISF four years ago after serving as Triventures' CFO and providing consultancy services in financial management, strategy, and business development to funds and companies such as Evergreen and Samsung.
Contact: [email protected]
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SOURCE ISF (Israel Secondary Fund)
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