Technology investor Greenfield Partners announced Wednesday that it has closed a $150 million fund to continue its strategy of supporting early growth stage Israeli and Israel-related technology and tech-enabled businesses.
The Greenfield team applies its years of operating experience with the support of a global network to help strengthen and grow its portfolio companies. The Fund's investments currently include Avanan, BigPanda, Guardicore, and Vast Data.
Greenfield was established in 2016 by TPG Growth as an investment platform for early growth stage Israeli and Israel-related technology investments, but it has been independent since earlier this year. The two firms will continue to seek opportunities for collaboration on selected growth stage Israel-related investments, Greenfield said.
The investment firm's co-managing partners, Yuda Doron and Shay Grinfeld, operated and sold technology companies prior to their investment careers.
"This is a great milestone for Greenfield Partners and we appreciate the confidence our broader base of backers has shown in us and in the Israeli technology ecosystem," said Grinfeld. "We decided to publicize the closing of the Fund during these uncertain times in order to underline our approach and mandate from our LPs, which is to invest in enduring technology companies across macro cycles."
Jim Coulter, Co-Founder and Co-CEO of TPG, said: "We established the Greenfield Partners platform in 2016 to focus on the innovation and disruption coming out of Israel's technology ecosystem. Since then, our commitment to Israel has only increased, with a greater focus on more established, growth equity investments. We are excited to see the Greenfield Partners team continue to pursue its focus on earlier stage investments and look forward to finding opportunities for collaboration."
Following the closing of the fund, Avery Schwartz, a former investment banker at Goldman Sachs, was promoted to Partner after two years with Greenfield. Raz Mangel, previously an investment banker at Barclays, was promoted to Principal, also after two years with Greenfield, and Daniel Milstein, a former investment banker at RBC Capital Markets, was promoted to Senior Associate.