Czech Firm Reveals $100 Mln Venture Fund for Israeli Startups With 'Emphasis' on Blockchain
July 09 2018 - 8:41AM
ADVFN Crypto NewsWire
Investment banking firm Benson Oak revealed it would
pump “around $100 mln” into Israel-based startups with an
“emphasis” on blockchain, local Israeli news
outlet the Jerusalem Post reported today, July 9.
The Czech-headquartered giant’s
subsidiary Benson Oak Ventures will focus specifically on the
Israeli market.
Having already raised $25 mln, a further $75 mln is expected,
with the company expressing its belief in the potential of both
Israel as a jurisdiction and local business projects.
“I believe that there are great entrepreneurs in Israel who are
leading the platforms of the future, with creating [sic] and
disruptive use of blockchain technologies,” Benson Oak managing
partner Robert Cohen told the Jerusalem Post, adding:
“I moved to Israel six years ago, and with a passion to build
companies, I have established Benson Oak Ventures as a new platform
to provide financial and operational capital to the best
entrepreneurs in Israel and around the world.”
While just the latest step in the firm’s Israeli activity,
blockchain forms a new direction, with details of potential
participants in the fund still to be released.
Benson has raised over $5 bln since 2003, with its first fund
including support for internet
security company AVG.
Blockchain technology meanwhile continues to become ever more
popular in the country this year. As Cointelegraph reported in March, Israel’s
government has adopted a hands-on stance towards blockchain-based
innovation in government services and beyond.
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