Carmel was formed in 2000 by the former founders and senior executives of Oshap Technologies, a publicly traded software investment group sold in 1999 to SunGard Data Systems for $230 million; and of Tecnomatix Technologies, a publicly-traded vendor of manufacturing process management software solutions that was acquired by UGS in 2005 for $228 million. Over the years, these individuals have successfully made their mark in Israel’s highly active high-tech market, participating in some of its great success stories. Carmel has earned a reputation among entrepreneurs and investors for its role in helping to transform Israeli-based start-ups into leading global businesses. Our initial fund, Carmel I, raised $171 million in 2000 and quickly gained recognition as one of the highest quality portfolios within the Israeli VC community. We are proud of our recent exits of Followap, acquired by Neustar for $140 million; Actimize, acquired by NICE Systems for $280 million; and ECI Telecom, acquired by a group of private equity investors for $1.2 billion. These exits are a testimony to our proven investment strategy of building global category leaders and generating significant value for our investors and entrepreneurs. (links to case studies)
Carmel II, established in 2005, raised $201.5 million from leading global investors and is further augmenting the portfolio with new investments bearing great potential. The fund maintained the primary focus on early-stage software and telecommunication investments, leveraging the team's strong IT experience, while also addressing new domains, such as digital media, home entertainment, Internet advertising and more. Several of Carmel II companies are already enjoying strong market traction and are emerging as potential category leaders.
In February 2008, Carmel III was established with commitments of $235 million from leading global investors. Carmel Ventures III will follow the Carmel Ventures investment strategy of focusing on seed and early stage Information Technology investments.
|1985||Oshap NASDAQ IPO|
|1993||Tecnomatix NASDAQ IPO|
|1999||Decalog sold to SunGard, $85 M|
|1999||MINT sold to SunGard, $150 M|
|2000||Founded Carmel, Carmel I - $170 M|
|2005||Tecnomatix sold to UGS, $228 M|
|2005||Carmel II - $201.5 M|
|2006||Followap sold to Neustar, $139 M|
|2007||Actimize sold to Nice Systems, $280 M|
|2007||ECI Telecom sold to PE Group, $1.2 B|
|2008||Carmel III - $235 M|
|2009||CopperGate sold to Sigma Design, $190 M|
|2011||Snaptu sold to Facebook|