Greylock Raising $150M Israel FundJustin Hibbard
Venerable Boston-based VC firm Greylock has been investing in Israeli tech startups since 2001. In 2004, the firm added two venture partners to focus exclusively on Israeli investments. Now Greylock is going a step further, raising a $150 million fund dedicated to Israel, according to a source familiar with the plan. Greylock partners Moshe Mor and Yoram Snir will move to Israel and join partner Erez Ofer in managing the fund over there, the source says. This is yet another step in the global expansion of the U.S. VC industry, which increasingly must look abroad to invest its ever-growing stash of capital in a limited supply of innovative ventures. Unlike emerging markets such as China, India, and Eastern Europe, Israel has an established, stable system of entrepreneurship, which means less risk but more competition for VCs.