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Israel’s ISF raises more than $300m for third secondaries fund

The fund will continue with ISF's focus on acquisitions of holdings in private companies and venture capital funds.

Tech secondaries firm Israel Secondary Fund has closed its third fund on $312 million, according to a statement.

The raise marks an increase on its predecessor, ISF II, which closed on its $100 million target in 2017, according to Secondaries Investor data.

Israel Secondary Fund III will continue with the firm’s focus on acquisitions of holdings in private companies and venture capital funds.

Investors included several Israeli institutional investors such as Migdal Insurance, Altshuler Shaham and Bank Hapoalim, as well as institutions, pension funds, endowments and family offices from Europe and the US.

Dror Glass, managing partner and founder of ISF, said in the statement that the timing of the fundraising was significant, given current market trends after a decade of growth.

“We expect the demand for secondary transactions and liquidity to increase significantly, especially given the growing uncertainty in the high-tech industry and possible delays of IPOs and acquisitions,” Glass said.

ISF has invested directly and indirectly in approximately 220 companies across over 80 transactions and has made 50 exits, according to the statement.