The fund's first investments are a secure quantum communications system, an AI (Artificial Intelligence) market research solution and a next-generation correspondent banking platform.
VentureIsrael is managed by five partners – all investment experts with diverse backgrounds: Michael Harte, former COO of Santander UK and Barclays; Roman Gold, Gadi Isaev and Alexander Zarankin of JSCapital, the Israeli investment platform; and Igor Turkin of Investment Management Group.
"The Israeli innovation industry is demonstrating phenomenal growth potential even given the current turbulent economic environment," said Gold.
"In the first half of 2020, Israeli start-ups attracted a record of $5.25 billion investment capital, while the total amount of exits approached $7 billion. We also see that the demand for early-stage capital is growing faster than the amount of the funding available – therefore our aim is to find the right place in that niche of the market."
"Being a part of the Israeli start-up ecosystem and having closed a large number of successful investment deals, we have consistently observed the importance of a clear technological advantage in a company's ability to stand out from the competition. That's the reason our fund's investment strategy will focus on deep-tech companies," said Isaev.
VentureIsrael will also pay close attention to the Enterprise Software segment of Israeli early-stage start-ups.
"Worldwide, we see in increasing corporate demand for digital transformation. The Israeli market has long established itself as an influential and effective provider of innovative solutions for the corporate segment and our fund will seek out the best opportunities in that field," said Turkin.
VentureIsrael's initial closing has attracted substantial attention from private and institutional investors globally. The fund headquarters are based in Tel Aviv, with an international subsidiary in London.