Viola invests $20m in drones

The Israeli private equity firm has put growth capital into Yavne, Israel-based Aeronautics as it continues raising $250m for its debut fund.

Viola Private Equity has agreed to invest $20 million in Aeronautics, a company that manufactures and markets unmanned aerial vehicles for government, military and civilian customers globally.

The company was founded in 1997 and is headquartered in Yavne, Israel.

The investment will be used to drive Aeronautics’ growth as globally, demand is growing for unmanned aerial vehicles and advanced security systems, Sami Totah, a partner at Viola Private Equity, said in a statement. It also gives Totah and Osnat Ronen, a partner at the firm, seats on the company’s board.

The capital injection is part of a $25 million funding round with the remaining $5 million raised from the company’s existing shareholders.

Viola Private Equity is currently raising its maiden fund, which is targeting $250 million, according to the firm’s website. The buyout and growth capital fund typically invests between $20 million and $30 million in private and public Israeli and Israel-related technology companies.

The firm is an affiliate of Viola Partners Group, an Israeli private equity investment group focused on technology growth opportunities in Israel. The group’s other affiliates include Carmel Ventures, a venture capital firm and Vintage Venture Partners, a secondary fund and fund of funds manager. It has $1.7 billion under management.

Viola Private Equity and Aeronautics did not respond to requests for comment at press time.