Gemini closes $200m Israel tech fund

The Israel venture capital firm continues to focus on seed and early-stage IT investments.

Gemini Israel Funds has announced the final closing of its Fund IV at $200 million (€164 million).

The new fund will retain the Israeli firm’s focus on IT, specifically in the enterprise software, communications and semiconductor sectors; Fund IV will make investments with seed and early-stage companies.

According to a statement, the new fund has attracted investment from more global institutions than any previous Gemini fund. LPs in previous Gemini funds including MIT, Invesco, CalPERS and Grove Street Advisors were joined by top-tier institutional investors Morgan Stanley, Wilshire Associates, Spur Capital, Offit Hall Capital Management and Horsley Bridge.

Gemini also announced that Paul Gompers, professor of business administration at the Harvard Business School, will join the fund’s advisory board.

Most recently in June, the firm announced that Carmel Sofer, former president of Comverse Europe, the software and multimedia communications services provider, has joined as venture partner. He joins Gemini’s team of two existing venture partners, Dr Orna Berry, former chief scientist with the Israeli government and Shahar Kaminitz formerly of Amdocs, the US software service provider.