Sweetwood Ventures, the venture capital arm of Sweetwood Capital, has announced the final closing of its first Israel-focused venture capital fund, with commitments of $70 million.
Sweetwood says the fund will provide investors with access to the most promising Israeli tech startups, through a combination of primary and secondary investments in top-tier Israel-focused venture capital funds and direct co-investments into promising technology startups.
The Luxembourg incorporated fund is backed by several institutional, family office and high-net-worth investors, located predominantly in Europe, including a top-tier private Belgian bank and leading family offices in Belgium and Luxembourg.
Sweetwood Ventures managing partner Manuel Sussholz said, "Many of our European investors recognize the potential for building world-class technology companies out of Israel and we are proud to be recognized as one of the leading access points to the Israeli venture capital ecosystem."
Sweetwood Ventures partner Amit Kurz added, "We have been investing out of our inaugural fund over the past 18 months and have completed commitments to five new VC funds, one secondary position and a direct co-investment. We are looking forward to continue the growth of our portfolio in the coming years."
"Our fund commits capital to and alongside best-in-class Israeli VC managers over a 3-year investment period. The underlying funds themselves generally invest over an initial 3-year period. This multi-cycle investment approach will allow us to benefit from the likely wave of lower valuations due to the Covid-19 crisis and from attractive opportunities arising in the secondary markets," said Samuel Cohen Solal, Managing Partner of Sweetwood Ventures.
Published by Globes, Israel business news - www.globes-online.com - on April 22, 2020
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