Sweetwood Ventures, the venture capital arm of Sweetwood Capital, has closed its first venture capital fund of funds at $70 million. The fund will target Israeli tech startups.
LUXEMBOURG and TEL AVIV, Israel, April 22, 2020 /PRNewswire/ — Sweetwood Ventures, the venture capital arm of Sweetwood Capital, announced the final closing of its first venture capital Fund of Funds, with commitments of $70 million, which took place earlier this year.
The fund provides investors with access to the most promising Israeli technology startups, through a combination of primary and secondary investments in top-tier Israel-focused venture capital funds and direct co-investments into promising technology startups. The Luxembourg incorporated fund is backed by several institutional, family office and high-net-worth investors, located predominantly in Europe, including a top-tier private Belgian bank and leading family offices in Belgium and Luxembourg.
“Many of our European investors recognize the potential for building world-class technology companies out of Israel and we are proud to be recognized as one of the leading access points to the Israeli venture capital ecosystem,” said Manuel Sussholz, Managing Partner of Sweetwood Ventures.
Amit Kurz, Partner at Sweetwood Ventures added that “We have been investing out of our inaugural fund over the past 18 months and have completed commitments to five new VC funds, one secondary position and a direct co-investment. We are looking forward to continue the growth of our portfolio in the coming years.”
According to IVC, Israel’s leading tech research company, in 2019 Israeli startups raised a remarkable amount of $8.2 billion, while ‘exits’ by Israeli startup companies accounted for $21.7 billion. During Q12020 Israeli startups raised a record $2.7 billion, despite the slowdown which occurred in March.
“Our fund commits capital to and alongside best-in-class Israeli VC managers over a 3-year investment period. The underlying funds themselves generally invest over an initial 3-year period. This multi-cycle investment approach will allow us to benefit from the likely wave of lower valuations due to the COVID-19 crisis and from attractive opportunities arising in the secondary markets,” said Samuel Cohen Solal, Managing Partner of Sweetwood Ventures.
About Sweetwood Ventures
Sweetwood Ventures is a Luxembourg-incorporated, $70 million Fund of Funds, focused on Israel Venture Capital.
Sweetwood Ventures acts as the venture capital arm of Sweetwood Capital, an Israel-based financial firm founded in 2011. Sweetwood Ventures is managed by three partners: Manuel Sussholz, Samuel Cohen Solal and Amit Kurz.