GREYLOCK ISRAEL PARTNERS CLOSES SECOND FUND
May 31, 2011
HERZLIYA, ISRAEL and LONDON, UK –May 31st, 2011—Greylock Israel Partners today announced that it has closed a $160 million fund, Greylock Israel II, from which it will continue to invest in exceptional enterprise and consumer technology companies at all stages of development, from seed to early to growth, in Israel and Europe. As with previous Greylock funds, this fund, which had a target size of $150M, was oversubscribed.
The news underscores Israel’s continued leadership in technology entrepreneurship, and the importance of providing locally-savvy operational support coupled with strong international networks to cultivate young Israeli and European-born firms into global market leaders.
“Greylock Israel is pleased to have gained the renewed support of some of the industry’s elite investors,” said Henry McCance, Chairman Emeritus of Greylock. “The Greylock Israel team is part of the Greylock global network, leveraging over forty years of investment heritage and experience to the benefit of talented, passionate entrepreneurs.”
The fund is managed by five Greylock general partners, Moshe Mor, Erez Ofer, Yoram Snir, Laurel Bowden and Arnon Dinur. Laurel Bowden is operating from the recently opened office in London.
“We are delighted to continue supporting Greylock Israel with their second fund,” said Andrew Golden, President of the Princeton University Investment Company. “Greylock Israel has established itself as a leading firm in its markets with an excellent reputation as value-add investors.”
Greylock Israel has completed over twenty investments in its first fund, launched in 2006. More than half of these investments were Seed investments. Greylock Israel will continue its Seed Program in fund II. Investments under the Seed Program range from $100K up to $1 million and offer exceptional entrepreneurs a quick process to get initial funding for their companies.
About Greylock Partners
Greylock partners with entrepreneurs to help them build market-leading businesses. Over the past 45 years the firm has worked with hundreds of companies, 150 of which have gone on to IPOs and 100 of which have gone on to profitable M&A events. Such companies include Ascend Communications, CheckFree, Constant Contact, Continental Cable, Decru, Data Domain, DoubleClick, Internet Security Systems, Legato, Media Metrix, Millennium Pharmaceuticals, Openwave, Open Market, OutlookSoft, Polyserve, Red Hat, RightNow Technologies, Success Factors, Tellabs, Trilogy and Wily Technology. Current Greylock portfolio companies include Actifio, Aeroscout, Apptio, Cloudera, Data Robotics, Facebook, Groupon, Imperva, LinkedIn, Palo Alto Networks, Pandora, Red Bend, Telit, Workday, Wonga, Zend and ZipCar.