Planven VC expands in Israel, appoints Eran Westman as Managing Partner
With successful investments in Israeli companies like Via and Ibex, the Swiss fund strengthens its regional presence amid plans for a fourth fund.
The Swiss venture capital fund Planven is expanding its operations in Israel and has appointed Eran Westman as Managing Partner for its local operations. Until now, the fund has not had a representative in Israel, despite investing in numerous Israeli companies, including Via, TechSee, Ibex, and others.
Westman stepped down earlier this year from the Viola Growth fund, where he served as a partner for six years. At Viola, he led investments in companies such as Bringg, Trigo, and MDClone. Prior to this, he was the CEO of Vidyo, a provider of video solutions, and Senior Vice President of Global Business Management at Ceragon. In these roles, he managed large sales organizations, drove company growth through mergers and acquisitions, and oversaw the integration of acquired businesses and entry into new markets.
Planven was established in 2018 and currently manages $300 million across three funds, primarily focused on investments in Israel. About 20% of its investments target European companies. The fund specializes in relatively early-stage investments, particularly in companies with initial revenue streams in sectors such as cybersecurity and medicine.
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Calcalist has learned that Planven is in the process of raising a new fund of over $100 million. It is currently investing from its third fund, raised in 2021, which still has enough capital for one or two additional investments. The fund is managed by four founding partners, one of whom co-founded Italy’s largest hospital chain.
