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Genesis II Fund Completes Raising of $260 Mln
July 18, 2000 GlobesBy Ella-Jacoby-Bashan
Venture capital fund Genesis Partners has announced it has completed raising $260 million for its second fund, Genesis II. Among other investors in the new fund are CIBC, Canada's second largest bank and owners of investment bank Oppenheimer, BankBoston Capital, the investment division of Banc Boston, the second largest investor among US banks and the owners of investment bank Robertson Stephens, IBM International, the government of Singapore, the Province of Quebec Pension Fund, GE Pension Fund and Princetown University. Israeli investors include Koor Industries, Clal Electronic Industries, and Leumi & Co.
Managing partners in Genesis are Oppenheimer representative in Israel Eddy Shalev, who initiated the setting up of the fund in 1996; former investment manager at Polaris and Yozma Dr. Eyal Kishon.
Genesis II will focus on investments mainly in communications and software - wireless communications, chip development for communications, business software, and more. The new fund will invest in early and late-stage start-ups. It also plans to invest privately in companies already publicly issued.
Genesis II has already invested in several companies, including StoreAge, GetFit and Modem Art. Genesis Partners currently manages $350 million in two funds. To date, Genesis 1 has made the following exits: AudioCodes, Orckit, FundTech, Butterfly, Paradigm Geophysical and ClickSoftware.
Venture capital fund Genesis Partners has announced it has completed raising $260 million for its second fund, Genesis II. Among other investors in the new fund are CIBC, Canada's second largest bank and owners of investment bank Oppenheimer, BankBoston Capital, the investment division of Banc Boston, the second largest investor among US banks and the owners of investment bank Robertson Stephens, IBM International, the government of Singapore, the Province of Quebec Pension Fund, GE Pension Fund and Princetown University. Israeli investors include Koor Industries, Clal Electronic Industries, and Leumi & Co.
Managing partners in Genesis are Oppenheimer representative in Israel Eddy Shalev, who initiated the setting up of the fund in 1996; former investment manager at Polaris and Yozma Dr. Eyal Kishon.
Genesis II will focus on investments mainly in communications and software - wireless communications, chip development for communications, business software, and more. The new fund will invest in early and late-stage start-ups. It also plans to invest privately in companies already publicly issued.
Genesis II has already invested in several companies, including StoreAge, GetFit and Modem Art. Genesis Partners currently manages $350 million in two funds. To date, Genesis 1 has made the following exits: AudioCodes, Orckit, FundTech, Butterfly, Paradigm Geophysical and ClickSoftware.
