US growth equity firm General Atlantic announced today that it has opened a new office in Tel Aviv. General Atlantic said that it has invested over $750 million in eight high-growth tech companies in the country since 2019, with six of those eight investments made over the past year.
General Atlantic added that it still sees significant opportunity in Israel and the Tel Aviv office would enable General Atlantic to strengthen its presence in "the highly entrepreneurial Israeli ecosystem." The equity firm said that the Israel office would help it identify high-growth, and early-stage investment targets in the tech sector. Tel Aviv will be General Atlantic's 15th office worldwide.
General Atlantic chairman and CEO Bill Ford said, "General Atlantic is proud to establish a local presence in Israel, a market that stands out as a hub of global entrepreneurship and digital transformation. We look forward to growing our team on the ground and deepening our partnerships within the vibrant community of Israeli founders."
General Atlantic co-president, managing director and global head of technology investing Anton Levy added, "Israel’s cutting-edge technology sector is underpinned by a culture of innovation and dynamism, and we are thrilled to be establishing an official base here. We believe there is significant opportunity to support and scale the country’s next generation of growth companies as they evolve into large enterprises capable of expansion and disruption at the global level."
General Atlantic's Israel investments include AppsFlyer, a company which uses analytics solutions to help marketers to grow their businesses; Atera, an IT management company helping businesses adapt to a remote working model; Fireblocks, an all-in-one platform to store, transfer and issue digital assets; Hibob, a platform which helps midsize businesses modernize their HR practices; Riskified, a company that specializes in preventing payment fraud on e-commerce sites; Transmit Security, a cybersecurity company which facilitates passwordless authentication; Vast Data, a software-defined, next-generation flash storage and data infrastructure company; and Zoomin, a leading provider of knowledge orchestration solutions.
Published by Globes, Israel business news - en.globes.co.il - on April 4, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.