(photo credit: REUTERS)
Benson Oak, an investment banking firm that has raised over $5 billion worldwide, announced on Sunday the establishment of Benson Oak Ventures – a special investment fund focused on Israel.
The mission of the new fund is to invest in Israeli start-ups, with an emphasis on blockchain technologies.
To date, the fund has secured $25 million and is expected to secure a total of $100m.
Benson Oak’s first fund focused on investments in technology, included an investment in leading Internet Security company AVG, which generated a 100-times return on its investment after the company went public on the NYSE, at a value exceeding $1b.
Managing partner Robert Cohen said the firm has been investing in the Israeli market for some time now.
“I believe that there are great entrepreneurs in Israel who are leading the platforms of the future, with creating and disruptive use of blockchain technologies,” he said. “I moved to Israel six years ago, and with a passion to build companies, I have established Benson Oak Ventures as a new platform to provide financial and operational capital to the best entrepreneurs in Israel and around the world.”