Vintage Investment Partners raises $200 million for its 4th growth-stage fund
Vintage Investment Partners raises $200 million for its 4th growth-stage fund
Growth IV will invest in 15-20 leading Israeli, European, and U.S. growth-stage technology startups. The new fund brings Vintage’s total assets under management to roughly $4 billion
Vintage Investment Partners has announced the closing of its 4th growth-stage venture fund (Growth IV) at $200 million, above its target of $175 million. Similar to Vintage’s prior growth funds, Growth IV will invest in 15-20 leading Israeli, European, and U.S. growth-stage technology startups.
The fund, which is Vintage’s 16th fund overall, will operate in parallel to Vintage’s Fund of Funds and Secondary Funds and brings Vintage’s total assets under management to roughly $4 billion.
"We raised most of the money during last summer and continued during the war with several entities that we had already worked with, reaching over $200 million," Asaf Horesh, General Partner at Vintage Investment Partners, told Calcalist. "The first growth fund was raised 12 years ago, marking the inception of the first dedicated growth fund in Israel. At that time, there wasn't enough growth capital in Israel.
"We believe there are ample opportunities in the market. In principle, we strive to invest in the best companies across all sectors, and our strongest relationships are in Israel. We also have several European and American companies in our portfolio," added Horesh. "Vintage has continuously shown an ability to not only access and support leading companies at the growth stage such as JFrog, Honeybook, Minute Media, Mirakl, Monday.com, SentinelOne, Silverfort, Wiliot, Wolt, Yotpo, and many more, but also generate strong distributions to investors while remaining disciplined in deployment pace and fund sizes."
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Vintage also provides what it calls Value+ services. The Value+ team cultivates relationships with over 500 leading corporations with the goal of generating meaningful business engagements for startups, funds, and corporate partners. Vintage's Value+ has generated over 3,300 meetings and introductions between startups and corporations, resulting in nearly 300 known purchase orders or paid proof of concepts for startups from global corporations and over $200 million in business.
In addition, Vintage has grown its team significantly to over 60 people since its last growth fund. Alan Feld, Founder and Managing Partner of Vintage, also noted, "For the last seven years, we have been working hard to build Vintage for the future. We are fortunate to have two generations of excellent future leaders of the firm who I believe can bring Vintage to the next level. I am thrilled that my Partners so successfully raised Growth IV and look forward to working with them to profitably deploy the $632 million fund of funds we raised last year, the $312 million secondary fund that we raised a couple of years ago, and the remaining capital in Growth III."
