It was reported today that Chinese Internet giant Alibaba will invest a sum of tens of millions of dollars in Israel venture capital firm JVP. Kobi Rozengarten, a managing partner with Jerusalem Venture Partners (JVP) , made the announcement at JVP’s annual meeting. Kobi Rozengarten runs the firm together with Raffi Kesten and Gadi Tirosh.
JVP is one of Israel’s largest investment firms, with holdings in semiconductors, digital media and cyber security companies. A big delegation from Alibaba is currently visiting in Israel. They already visited JVP’s cyber incubator in Beersheva, and today they are meeting at the firm’s offices in Jerusalem. The delegation will pay a visit to other Israeli firms .
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Alibaba is a platforms account for nearly 80 per cent of Chinese online commerce.
Alibaba raised $25 billion in September in the New York Stock Exchange in the largest ever initial public offering.
In a statement, Alibaba confirmed the deal, saying that the “JVP investment is in line with our mission of supporting innovation and startups.”
JVP led the successful flotation of cyber security company CyberArk, now traded at a market cap of $1.4 billion on Nasdaq. Two weeks ago, “Globes” revealed that JVP made an impressive exit when it sold CyActive for $60 million. The investment in CyActive totaled $2 million, so that the sale gave a return of 30 times on the money, says Globes.
