Gemini co-founder Tali Aben to leave fund

Aben will remain on the boards of two portfolio companies.

Sources inform "Globes" that Tali Aben has recently announced her decision to leave Gemini Israel Funds, the venture capital firm in which she is a partner. Aben was one of the firm's founders.

Gemini manages $686 million, and is in the process of raising a $200 million fifth fund, on which it has already made a first closing of $140 million. Aben will not be a partner in the fifth fund, but she will continue to sit on the boards of Panaya and Xjet, start-ups in which Gemini is invested.

Aben served as a founding partner for thirteen years. She was Gemini's representative in Silicon Valley for six years until she returned to Israel two years ago.

Yossi Sela, another Gemini founding partner, said today, "That's the way of the world. After thirteen years with Gemini, and before committing herself for another five years, Tali decided to look at other fields. The split-up was done in a spirit of great friendship. Tali will continue to look after two companies in which we invested in Gemini 4, and we remain excellent friends."

Globes: Will you recruit another partner?

"We remain five partners, which is appropriate for the size of fund we manage."

Tali Aben added, "I wanted to get out and look for something I could believe in and work with, or in the framework of which I could do something big. That search takes time. You can't do it while you're working. After thirteen years, which is a very long time, the decision was hard, but the best time is between two funds."

Published by Globes [online], Israel business news - - on January 10, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

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