CreditEase Wealth Management, the wealth management arm of CreditEase, has announced the first closing of its second fund dedicate to investing in Israeli tech startups, at $32.2m.
The final target of CEIIF II – focused on Israel, the third counry, after the U.S. and China, in the number of companies listed on the NASDAQ stock exchange, and with more startups than the entire European Union – is US$50m.
Led by Benjamin Weiss and Tayman Kan, Managing Partners, CEIIF II will look to invest in Israel-based startups operating in six sectors:
– Virtual and Augmented Reality (VR/AR),
– Artificial Intelligence and Machine Learning,
– Digital Healthcare,
– Internet of Things (IoT),
– Cloud and Data Storage, and
– Advanced Manufacturing.
Established in 2015, CEIIF is a venture capital firm that provides support to its portfolio companies, leveraging its extensive China relationships. It
currently manages US$65m in assets across two funds.
CreditEase Israel Innovation Fund I, which closed in October 2015, raised US$30m.
FinSMEs
13/01/2017