Plenus Venture Lending Fund has raised $324 million since it was founded in 2000.
Plenus Venture Lending Fund plans to raise $150 million for its fifth fund.
Plenus is well known among Israeli institutional investors. The company will try to leverage the Ministry of Finance's program of a safety net for institutional investors to invest in venture capital. Israel Phoenix Assurance Ltd. (TASE: PHOE1;PHOE5) and Migdal Insurance and Financial Holdings Ltd. (TASE: MGDL) invested in Plenus's second and third funds.
Plenus, founded by general partners Motti Weiss and Ruti Simha, is Israel's leading lending fund for high-tech companies. It is part of Shlomo Dovrat's Viola Partners. According to the Israel Venture Capital Association, it has raised $324 million since it was founded in 2000.
Plenus has marked several exits. The latest was the acquisition of Provigent Ltd., in which Plenus owned 1%, by Broadcom Inc. (Nasdaq: BRCM).
Published by Globes [online], Israel business news - www.globes-online.com - on April 13, 2011
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