June 19, 2018 / 2:00 PM / 9 months ago

Israel Growth Partners raises $230 mln for second fund

TEL AVIV, June 19 (Reuters) - Israel Growth Partners (IGP) said on Tuesday it raised $230 million for the first closing of a new fund that will invest in Israeli high-tech growth companies.

The fund, IGP II, will invest in mature start-ups with annual revenue of more than $10 million. Each investment is expected to range between $15 million and $30 million.

The closing was supported by the fund’s current investors, including Clal Insurance, Bank Leumi’s Leumi Partners, Discount Capital Markets and other institutional and private investors.

IGP’s first fund has invested in nine companies since its establishment in 2014, including Panaya, which was sold to India’s Infosys for $200 million in 2015. (Reporting by Tova Cohen)

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