October 31, 2018 / 9:15 AM / 15 days ago

Israel's Shavit Capital raises $100 mln fund for tech investment

JERUSALEM, Oct 31 (Reuters) - Israel’s Shavit Capital said on Wednesday it had completed a $100 million funding round to invest in technology companies before they go public.

The fund is Shavit’s fifth and will focus on the life science sectors.

While its previous funds targeted companies planning an initial public offering on Nasdaq, it now expects to expand its investments to include firms nearing flotation in other markets, like Europe, Canada, Australia and Hong Kong.

The fund’s investors include financial institutions from the United States, Asia and Israel, as well as owners and senior managers of leading investment banks and hedge funds.

Shavit, which has over $400 million under management, said it leads investment rounds ranging in size from $20 million to $60 million.

In the past year, Shavit led a $40 million round for Gamida Cell, whose leading product was developed to renew bone-marrow cells. Gamida Cell completed an IPO on Nasdaq in October. (Reporting by Ari Rabinovitch; Editing by Tova Cohen)

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