July 8, 2018 / 8:35 AM / 7 days ago

Benson Oak's new fund to invest in Israeli blockchain technology

TEL AVIV (Reuters) - European investment bank Benson Oak said on Sunday it has secured $25 million in investment commitments for a new Israel-dedicated fund and plans to raise $100 million in total.

The new fund, Benson Oak Ventures, will support Israeli startups, with an emphasis on blockchain technologies.

Benson Oak’s first technology fund from 2003 included an investment in Internet security company AVG, which generated a return of 100 times investment after the company went public on the New York Stock Exchange.

Benson Oak has established three funds that invested in high-tech in the United States, the Czech Republic and Israel.

Benson Oak Ventures’ investors include private individuals, family offices and strategic companies from around the world.

Reporting by Tova Cohen; Editing by Steven Scheer

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