Jerusalem Venture Partners (JVP) has completed the raising of $80 million for its sixth fund, which will be called the Jerusalem Opportunity Fund.
In May, JVP founding partner Erel Margalit announced that the firm would raise a fund that would focus on late-stage companies.
JVP raised the capital for the new fund within a few months. The fund will focus on investment in late-stage high-tech companies that JVP has invested in over the past few years. JVP sought to raise $50 million for the fund, but it was oversubscribed.
JVP portfolio companies that the Jerusalem Opportunity Fund will likely invest in include optical components developer CyOptics Inc., chipset developer Siano Mobile Silicon Ltd., and 4G chipset developer Altair Semiconductor Ltd.
JVP and Margalit have had a great year, which undoubtedly affected the fundraising. The pearl was JVP's exit from Swedish software company Qlik Technologies Inc. (Nasdaq: QLIK), whose IPO last year earned JVP $300 million on a $10 million investment.
According to California Public Employees' Retirement System (CalPERS), this exit changed JVP's yield from a negative 3.4% in the first quarter of 2010 to a positive 3.4% in the fourth quarter.
JVP manages $850 million. It invests in media, Internet, mobile, advertising, games, software, and semiconductor companies.
Published by Globes [online], Israel business news - www.globes-online.com - on September 5, 2011
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