Vertex Management Israel, part of the International Vertex Group has closed a new $160 million fund, exceeding its original target of $150 million. The fund has already made six investments and will follow the same investment strategy as the first Vertex fund committing between $2 million and $5 million in telecommunications, information networking and Internet-enabling technology companies. The fund is targeting mainly Israeli-based start-ups, but will also have its eye on deals in the US.
Lead sponsors of the fund were Israel Discount Bank and Singapore Technologies. Other investors included Hitachi, Mellon Financial, Nippon Telegraph & Telephone Corp and Seiko Instruments.
Vertex’s previous fund has enjoyed numerous realisations including the $27 million acquisition of Oramir by Applied Materials and the $400 million acquisition of Telegate by Terayon.
Vertex Israel recently opened an office in Singapore to facilitate strategic alliances and cultivate relationships with Asian investors, entrepreneurs and partners. The firm now has a base in three locations worldwide Israel, the US and Singapore.