Israel-based venture capital firm Glilot Capital closed its second fund yesterday at $77m securing capital from limited partners including financial services firm Bank Hapaolim.
The fund also raised cash from institutional investors, family offices, individual investors from the US, Europe, Asia Pacific, Israel and South Africa, as well as undisclosed return investors that contributed to Glilot’s $30m Glilot I fund in 2011.
Founded in 2011, Glilot targets seed and early-stage Israel-based software companies, particularly those developing technology in the cybersecurity and enterprise software sectors.
Three of the eight companies to receive funding from Glilot’s first fund – enterprise security software developer Aorato, inbound marketing platform Insightera and cloud security company Porticor – were later acquired.
Yossi Vinitski, head of high-tech at Bank Hapoalim, said: “The investment in Glilot is the first strategic investment in a venture capital fund for us and is part of our plan to enhance our position in the extremely vibrant and fast growing Israeli startup scene.”