Israeli Venture Capital Firm IGP Closes $230 Million Fund

Israel Growth Partners (IGP) Ltd. announced on Tuesday it closed a $230 million new investment fund, IGP II, to invest in mature Israeli tech startups with annual revenues of more than $10 million. IGP’s existing investors contributed to the new fund, including Clal Insurance, Leumi Partners, Discount Capital Markets, and other institutional and private investors.

IGP was founded in 2014 by venture capitalists Haim Shani and Moshe Lichtman. IGP's first fund has invested in nine companies including online jewelry and diamond retailer R2NET, listed as James Allen Diamonds, Inc., and Panaya Ltd., which provides automation services for upgrading ERP systems. On Tuesday, IGP also announced the promotion of Uri Erde and Assaf Harel to General Partners.