Carmel Ventures promotes two

Ronen Nir and Itzik Avidor have gained partner status as the Israeli venture firm deploys its $235m third fund.

Israeli venture capital firm Carmel Ventures has promoted Ronen Nir and Itzik Avidor to partners.

Nir joined Carmel Ventures in early 2008 as a principal, before which he was a director at software company Verint and a project team manager for ECtel, which offer solutions to communications service providers.

“As a partner, Ronen will lead new investments and continue to work closely with Carmel’s portfolio companies,” said Avi Zeevi, in a statement.

Avidor joined Carmel as chief financial officer when it was founded in 2000 and will continue in this role.
He was previously a senior audit manager at financial services firm Deloitte Brightman Almagor. 

In February 2008, Carmel held a final close on $235 million for its third fund, focused on global information technology-related sectors, such as semiconductors and software.

The fund’s limited partners included returning investors such as JPMorgan, the California Public Employees’ Retirement System and the Oregon Public Employees Retirement Fund.

Headquartered in Herzliya, Carmel is an affiliate of Viola Partners Group, an Israeli private equity investment group, which targets technology-based opportunities in Israel.