Magma Venture Partners, an Israeli early stage high-tech startup VC fund, has announced the closure of its fourth fund — with $150 million in committed capital. The new raise was supported by existing limited partners and new investors.
The firm closed a $100 million+ fundraising for its third fund early last year. The closing of its fourth fund brings the total capital under management by Magma to more than $500 million.
Magma’s extant investments have covered a broad swathe of digital areas including mobile, cloud, new media, SaaS, ecommerce, UGC and cyber security. Startups in its portfolio have included crowdsourced navigation app Waze (acquired by Google), mobile analytics company Onavo (acquired by Facebook), and Provigent (acquired by Broadcom).
It said it intends to continue the same investment strategy with the fourth fund, and will exclusively focus on investing in Israeli entrepreneurs — and primarily in Israel-based tech teams.
Magma expects to begin investing the fourth fund in early 2015 after Magma III reaches investment capacity. For Magma IV it said it expects to invest in seed and series A rounds, envisaging around 25 to 30 investment opportunities with typical investment sized between $500,000 and $6 million.
Commenting on the fourth fund in a statement, Yahal Zilka co-managing partner said: “We are very pleased with the interest, trust and support of leading Limited Partners (LP’s) in Magma and its activities with Israeli entrepreneurs. We are fortunate to partner with the most sophisticated global technology investors from the US, Europe, Asia and Israel. The strong LP interest provided for an expedited and swift fund raising process during the mid to late summer time frame.”