Gemini Israel Funds, an Israel-based VC firm, announced the final closing of Gemini Israel IV, LP at €165 million. Like its predecessor funds, Gemini IV, LP will focus primarily on investment in Information Technology, specifically in the areas of enterprise software, communications and semiconductors. Gemini expects that most of the Gemini IV investments will be made in seed and early stage companies and to begin making investments from the new fund in September.
The fund has attracted investment from more global institutions than any previous Gemini fund. Investors in previous Gemini funds including MIT, Invesco, Calpers and Grove Street Advisors were joined by institutional investors Morgan Stanley, Wilshire Associates, Spur Capital, Offit Hall Capital Management and Horsley Bridge. In addition, Paul Gompers, Professor of Business Administration at the Harvard University Business School will join the Gemini IV Advisory Board.
“We are especially pleased with the varied make-up of Gemini’s fourth fund investor base, particularly the interest from European investors, some of whom have never invested in Israel before,” said Yossi Sela, Managing Partner of Gemini. “We feel the awakening of European interest in Israel is a trend that will positively impact the entire Israeli Venture Capital industry.” Sela co-founded Gemini with Ed Mlavsky in 1993 and the company's 15 investment executives operate out of offices in Israel and Silicon Valley.
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