Stage One Ventures has raised an additional $10 million for an annex fund from existing investors, Discount Capital Markets and Investments Ltd. and private investors. StageOne now manages $45 million.
StageOne plans to use the annex fund for follow-on investments in portfolio companies. StageOne, which has been active since 2002, invests in telecommunications and information technology ventures, specializing in seed and early-stage investments. The company has invested in 15 companies to date, including Crescendo Networks Inc., cVidia Networks Ltd., FiberZone Networks Inc., Guardium Inc., Octalica Inc., Oversi Ltd., SandLinks Ltd., and Trivnet Ltd.
StageOne managing partner Yuval Cohen said, “I am pleased about the additional investment by our existing investors and by the new professional investors. We believe that the extra capital will enable us to maintain a substantial position and influence in our companies, which are now reaching the maturity stage, and most of which are rapidly expanding.”
Discount Capital Markets CEO Maoz Franco said, “We’ve always believed in StageOne’s team and strategy. It’s clear to us that the portfolio will generate handsome profits for the fund, and we’re convinced that that the investment of additional capital will make it possible to increase the return on this portfolio.”
Published by Globes [online], Israel business news - www.globes.co.il - on January 22, 2007
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