Investment banking firm Benson Oak revealed it would pump “around $100 mln” into Israel-based startups with an “emphasis” on blockchain[1], local Israeli news outlet the Jerusalem Post reported[2] today, July 9.
The Czech-headquartered[3] giant’s subsidiary Benson Oak Ventures will focus specifically on the Israeli market.
Having already raised $25 mln, a further $75 mln is expected, with the company expressing its belief in the potential of both Israel as a jurisdiction and local business projects.
“I believe that there are great entrepreneurs in Israel who are leading the platforms of the future, with creating [sic] and disruptive use of blockchain technologies,” Benson Oak managing partner Robert Cohen told the Jerusalem Post, adding:
“I moved to Israel six years ago, and with a passion to build companies, I have established Benson Oak Ventures as a new platform to provide financial and operational capital to the best entrepreneurs in Israel and around the world.”
While just the latest step in the firm’s Israeli activity, blockchain forms a new direction, with details of potential participants in the fund still to be released.
Benson has raised over $5 bln since 2003, with its first fund including support[4] for internet security company AVG.
Blockchain technology meanwhile continues to become ever more popular in the country this year. As Cointelegraph reported[5] in March, Israel’s government has adopted a hands-on stance towards blockchain-based innovation in government services and beyond.
References
- ^ blockchain (cointelegraph.com)
- ^ reported (www.jpost.com)
- ^ Czech-headquartered (cointelegraph.com)
- ^ including support (www.reuters.com)
- ^ reported (cointelegraph.com)
