Investment fund raises $25m for Israeli blockchain enterprises
Benson Oak, the European investment bank, said on Sunday it was setting up a new fund based on Israeli technology start-ups, with an emphasis on blockchain technologies.
The financier said it had already secured $25m for the fund and had established Benson Oak Ventures, a new unit which will oversee the new fund.
In time, the company said, it hoped to secure a total $100m in investment for the fund.
Benson Oak has had some success in previous technology investments. Having bought AVG, the Czech anti-virus software firm in 2001, the company generated a near 100-times return on investment for Benson Oak after listing on the New York Stock Exchange in 2011.
Meanwhile, the investment company has also established funds that have invested in new technologies in the US and the Czech Republic.
Managing partner comments
The Jerusalem Post quoted Benson Oak managing partner Robert Cohen as saying: “I believe that there are great entrepreneurs in Israel who are leading the platforms of the future, with creative and disruptive use of blockchain technologies.”
He added: “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.”