Hong Kong-Based Investment Bank Ion Pacific Raises $30 Million for New Fund

Hong Kong-based investment bank Ion Pacific Ltd. announced Monday it has raised $30 million for its debut structured secondaries fund. Earlier this year the bank established a presence in Israel earlier through a local subsidiary, IL Pacific.

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Dubbed Stonecutter I, the fund will focus on secondary investment in technology, venture, and growth capital funds, as well as direct investment in portfolios of companies, Ion Pacific said in a statement. The fund is already 50% deployed, Ion Pacific said, with remaining funds earmarked for investments in Israel and Asia.

Headquartered in Hong Kong with offices in London, Dallas, and Tel Aviv, Ion Pacific was founded in 2015 by Michael Joseph and Israeli-born Itamar Har-Even. Ion Pacific’s investment in Israel totaled $45 million to date, the company said.