TEL AVIV, Israel, September 30, 2014 /PRNewswire/ --
Magma is the first backer of
successful opportunities including: Waze, Onavo, DesignArt,
Provigent, Hola, Valens, Magisto, TabTale, Appsflyer and
CorePhotonics
Magma Venture Partners, a leading Israeli early stage
technology-focused venture capital fund with US$500 Million under management, today announces
the completion of fundraising for Magma Venture Capital IV with
$150 million in new committed
capital. The fund received strong interest and was oversubscribed
within weeks of announcement. This fund comes on the heels of a
third fund raised in early 2012.
Fund IV will continue Magma's strategy and investment focus of
investing across areas of information, communication technology
including Mobile, Cloud, New media, SaaS, e-commerce, UGC (User
Generated Content) and Cyber Security. The fund plans to invest
exclusively with Israeli entrepreneurs, primarily in Israeli based
technology teams, in their earlier stages of development.
The new fund continues the predecessor fund's focus and
activities and is expected to begin investing in early 2015 after
Magma III reaches investment capacity. The fund expects to invest
in seed and series A financing rounds, in approximately 25-30
opportunities with typical investments of US$ 0.5 - 6.0 million.
Magma Venture Partners, founded in 1999 was the first to partner
and invest with a long list of leading Israeli technology success
stories in the mobile, internet, software and semi-conductors
domains. Among these acquisitions are Waze, acquired by
Google (NASDAQ: GOOG); Onavo acquired by Facebook
(NASDAQ: FB); Provigent, acquired by Broadcom (NASDAQ:
BRCM); Wintegra, acquired by PMC-Sierra (NASDAQ:
PMCS); and DesignArt, acquired by Qualcomm (NASDAQ:
QCOM). Additional distinguished investments of Magma include
Hola, Valens, Magisto, TabTale, Appsflyer and CorePhotonics, among
others.
Magma IV received strong support in the oversubscribed fund from
existing Limited Partners and also attracted quality first-time
investors. Commenting on the fund closing, Yahal Zilka Co-Managing
Partner said, "We are very pleased with the interest, trust and
support of leading Limited Partners (LP's) in Magma and its
activities with Israeli entrepreneurs. We are fortunate to partner
with the most sophisticated global technology investors from the
USA, Europe, Asia
and Israel. The strong LP interest
provided for an expedited and swift fund raising process during the
mid to late summer time frame."
Modi Rosen, Co-Managing Partner said, "The new fund and
the expanded team will enable us to continue and accelerate what we
do best: identifying large opportunities, partner and work closely
with exceptional and bright entrepreneurs to create new business
categories and to lead these new fields while building large,
strong global players that spearhead these categories.
About Magma
Magma Venture Partners was founded in 1999 and is one of
Israel's leading Venture Capital
funds. The fund is led by Yahal Zilka, Modi Rosen (co-founders),
Shraga Katz, Zvi Limon, Shahar
Tzafrir, Ran Achituv and Adi
Yarel-Toledano. Magma successfully identified and garnered
new category leaders in communications technology, social media and
semiconductors. It has done it through its focused strategy and
pursuit of a clear investment strategy of investing with
outstanding entrepreneurs and exceptional teams that develop
disruptive technology and address large market opportunities. The
Magma team maintains close working relationships with its
entrepreneurs, portfolio companies, investors, and global
technology leaders.
For further information, please visit our website:
http://www.magmavc.com
Press contact:
Judith Greenblat
Green Public Relations
+972-544-30-7475
Judith.greenblat@gmail.com