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Magma Venture Partners Completes $100M+ Third Fund Fundraising — Taking Its Total Fund Size To $300M+

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Israeli early stage high-tech startup VC fund Magma Venture Partners, whose current portfolio includes online video-editing software developer Magisto, mobile analytics company Onavo, and navigation app maker Waze to name three, has completed fundraising on its third fund — Magma III — exceeding its target of $100 million (it did not specify by exactly how much).

Magma said it manages more than $300 million to-date. Its investments typically focus on digital media, SaaS and fabless semiconductors.  The fund is managed by partners  Yahal Zilka and Modi Rosen.

Commenting in a statement, Yahal Zilka, co-managing partner, said Magma III would be “an important source of encouragement and funding for Israeli-related entrepreneurs in their initial phases; pre-seed, seed and A-rounds”.

The Magma III fund has so far made four investments, starting in mid-2012 – including “Corephotonics, a developer of smart solutions to enhance mobile device cameras; Xplenty, a provider of easy-to-use Big Data solutions; and two additional companies, one which provides solutions for mobile application advertising and one which developed a SaaS solution to secure the public cloud”.

Magma Venture Partners release follows below.

Magma Venture Partners Completes the Fundraising of Magma III with Over US$ 100 Million


Some Magma portfolio companies: Waze, Hola!, Provigent, Onavo, Magisto, Nipendo and Valens

Magma Venture Partners, the venture capital fund managed by partners Yahal Zilka and Modi Rosen has completed the fundraising of its third fund Magma III, exceeding its target of US$ 100 Million.

Magma manages over US$ 300 million to date, and invests in ICT (Information, Communication and Technology), particularly in opportunities related to digital media, software as a service (SaaS), and fabless semiconductors. Some of Magma’s portfolio companies include:  Waze, the crowd-sourced mapping and live-navigation application that began its activity with an initial Magma investment; Onavo, the market leader in mobile market intelligence solutions; and Magisto, which developed a unique, fully automated video-editing application.

Modi Rosen, Magma’s co-managing partner, notes that, “These days, the completion of fundraising a third fund beyond its target is a milestone, and an important step in elevating and accelerating the momentum of innovation in Israeli-related technologies. Our investors’ trust in Magma directly reflects upon the enthusiasm and potential that Israeli hi-tech Start-ups will succeed in generating leading companies in their fields. We continue to invest vigorously in bright entrepreneurs and ground-breaking technologies aimed for large scale markets.”

Yahal Zilka, co-managing partner added, “We expect that Magma III will be an important source of encouragement and funding for Israeli-related entrepreneurs in their initial phases; pre-seed, seed and A-rounds. More specifically, Magma III is a good fit for those entrepreneurs who are looking for a partner in the initiation and creation of large-scale, meaningful companies. Magma’s experience and vision is to accompany and assist innovative entrepreneurs and CEO’s during their first steps, while maximizing their value as they carve their way towards becoming category leaders.”

Magma’s portfolio companies acquired most recently amount to a total value of approximately US$ 1 billion.  Amongst these acquisitions are companies such as Provigent, acquired by Broadcom (BRCM); Wintegra, acquired by PMC-Sierra (PMCS); and DesignArt, acquired by Qualcomm (QCOM) in 2012.

About Magma

Magma Venture Partners was founded in 1999 and is regarded as one of the leading Venture Capital funds in Israel. Alongside Modi Rosen and Yahal Zilka, Zvika Limon and Shraga Katz are also partners in the Fund. All four partners bring a wealth of experience in entrepreneurship, company building, board representation and investments in the ICT market.

The newest fund, Magma III, began investing in mid-2012 and has completed several investments to date.  Some investments include,  Corephotonics, a developer of smart solutions to enhance mobile device cameras; Xplenty, a provider of easy-to-use Big Data solutions; and two additional companies, one which provides solutions for mobile application advertising and one which developed a SaaS solution to secure the public cloud.