Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Canaan Partners Raises Money to Invest in Israeli Technology

Tel Aviv, Israel. Photographer: Ilan Shacham/AP Photo
Tel Aviv, Israel. Photographer: Ilan Shacham/AP Photo

Nov. 6 (Bloomberg) -- Venture capital investor Canaan Partners is raising a $60 million fund to invest in early-stage Israeli technology companies, said general partner Izhar Shay.

“The Israeli market represents a unique opportunity,” Shay said in an interview in Tel Aviv, noting that there have been 800 exits of Israeli startup companies for a total of $45 billion over the past 10 years. “This is a healthy environment and we wanted to do more than we are doing today.”

Last year, mergers and acquisitions of Israeli companies totaled $9.7 billion, just short of the $10 billion reached in 2006, a sum that also included initial public offerings, according to IVC Research Center, which monitors the local technology industry.

The fund, Canaan Partners Israel, is backed by the Canaan Partners Global fund and is attracting a mix of local and foreign investors, Shay said. It is the investor’s first fund solely directed at Israel.

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

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.