Israeli venture capital fund Glilot Capital Partners is mulling raising $200-300 million on Wall Street in an IPO of a special purpose acquisition company (SPAC), which would then seek to merge with an Israeli technology company, a source close to the matter has told "Globes."
Glilot Capital declined to comment on the report.
Glilot Capital was founded in 2011 by Kobi Samboursky and Arik Kleinstein who serve as managing partners of the fund together with managing partner Lior Litwak and partner Nofer Amikam. The fund specializes in investing in seed and early stage startups and in particular in the enterprise software and cybersecurity sectors. To date Glilot Capital has raised $500 million in five funds.
According to Glilot's website, the fund has had 10 exits to date including LightCyber, which was acquired by Palo Alto Networks, Protego, which was acquired by Check Point, and CyberX, which was acquired by Microsoft. Its portfolio company's currently include real estate data analytics company Cherre, cybersecurity company Insights, and financial services company Rewire.
Glilot has reported in the past that it was rated by Preqin as a leading global venture capital firm after it has yielded internal returns of 84% for investors from its first fund. Glilot has subsequently closed four more funds including its most recent $170 million growth fund, which it closed at the start of 2021, to target investments in software and cybersecurity companies after Series A financing rounds.
Published by Globes, Israel business news - en.globes.co.il - on June 21, 2021
© Copyright of Globes Publisher Itonut (1983) Ltd. 2021