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Israeli Technology Investors Raise $140 Million Venture Fund

July 3 (Bloomberg) -- A $140 million venture-capital fund to focus on early-stage Israeli startups has been set up by veteran technology investors Eden Shochat and Michael Eisenberg.

The fund will have a particular interest in big data, large data sets that may be difficult to handle and interpret using traditional applications. The fund’s creators have “a desire to build a lasting franchise and business in Israel that will help grow big Israeli companies,” Eisenberg said by e-mail.

The Aleph fund, named after the first letter in the Hebrew alphabet, “wants to partner with entrepreneurs who want to change the world,” according to a statement.

Eisenberg, who was at Benchmark Capital, whose investments included website toolmaker Wix.com Inc., declined to name Aleph’s backers. Eisenberg “will continue to serve on the boards of his current Benchmark investments and will manage out the Benchmark Israel fund,” according to the statement.

Shochat has worked at Genesis Partners and was a co-founder of Face.com, a facial-recognition company acquired by Facebook Inc.

To contact the reporter on this story: Gwen Ackerman in Jerusalem at gackerman@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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