Jerusalem Venture Partners successfully raised $25 million for an annex fund to strengthen the portfolio companies in the Israel-focused JVP IV which closed in 2001. The aim of the fund is to support existing investments by “enhancing their business propositions” and preventing premature sales in a downturn.
Will it work?
In the official press release, Erel Margalit, Managing Partner and Founder of JVP, said:
“JVP IV and its Annex Fund are able to create and develop companies with tens to hundreds of millions of dollars in revenues focusing on companies targeting the Media, Internet and end user markets. The Israeli Hi Tech industry has been unique in its ability to define new horizons and areas of activity, which could bring about major changes in the Web and media industries, drawing international and local investors to invest in these challenging times.”
Siano Mobile Silicon and Qlik Technologies were already identified as potential benefactors of the JVP Annex IV fund, for their prospects for growth and early signs of success.
2 Cents
If the IPO market recovers, the Annex Fund could serve as a life support oxygen pump, but JVP’s LPs will surely want to warrant that no good money is thrown after bad.
I'm a former general partner at google ventures, head of Google for Entrepreneurs in Europe and founding head of Campus London, Google's first physical hub for startups.
I'm also the founder of Techbikers, a non-profit bringing together the startup ecosystem on cycling challenges in support of Room to Read. Since inception in 2012 we've built 11 schools and 50 libraries in the developing world.
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