JERUSALEM, June 8, 2010 /PRNewswire/ -- Jerusalem Venture Partners ("JVP"), one of Israel's leading venture capital firms, managing 7 funds totaling over $800 million, announced today that it has raised approximately $25 million for an Annex Fund to JVP IV. The new Annex Fund is due to strengthen JVP IV's portfolio companies, enabling them to capitalize on their potential, preventing premature sale, and enhance their business propositions.
One such example is JVP IV and IV Annex portfolio company Qlik Technologies ("QlikTech"), which, according to a prospectus recently filed with the US Securities and Exchange Commission (SEC), generated revenues of $157 million in 2009.
Another leading JVP IV and IV Annex portfolio company is Siano Mobile Silicon ("Siano"). Siano is enabling mobile digital TV for handheld devices and is expected to become one of the most promising players in significant markets such as China, Korea and Brazil. The Company's rapid growth illustrates Israel's Hi Tech industry's shift from communications to media and the end consumer.
Erel Margalit, Managing Partner and Founder of JVP: "JVP IV and its Annex Fund are able to create and develop companies with tens to hundreds of millions of dollars in revenues focusing on companies targeting the Media, Internet and end user markets. The Israeli Hi Tech industry has been unique in its ability to define new horizons and areas of activity, which could bring about major changes in the Web and media industries, drawing international and local investors to invest in these challenging times."
JVP is an international venture capital fund, which was established in 1993 and manages seven venture capital funds totaling over $800 million. The Fund has recently launched the JVP Media Quarter in Jerusalem, which is located at the historic Mint building. The Quarter also includes JVP Media Labs - the Fund's media incubator, which invests in early stage media companies targeting fields such as: Web, mobile, advertising, gaming as well as enterprise software. The JVP Media Quarter is also home to the Animation Lab, a company which is producing a full-length animated feature film, as well as to The Lab, the Center for Performing Arts, established through JVP's non-profit organization, "JVP Community". For additional information on JVP please visit: http://www.jvpvc.com
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SOURCE Jerusalem Venture Partners (JVP)