Portfolio

Itzik Avidor and Ronen Nir Named Partners in Carmel Ventures

February 3, 2009, Herzelia, Israel - Carmel Ventures, a leading Israeli venture capital firm with over $600 million under management, announced today that Itzik Avidor and Ronen Nir have been named Partners. Promoted from within the Firm, Ronen served as Principal and Itzik served and continues to serve as CFO.

“We are pleased to recognize Itzik and Ronen’s contribution to Carmel and to have this opportunity to further build our partnership and promote our people,” said Avi Zeevi, co-founder and general partner. “Itzik has been working with Carmel’s founders for over 15 years and he is an important part of our team. His professionalism and dedication have been instrumental in developing Carmel’s best-of-class business practices.”

Avi Zeevi added, “Ronen’s vast managerial and operational background and investment experience perfectly fit Carmel’s hands-on investment approach to building global category leaders. As a Partner, Ronen will lead new investments and continue to work closely with Carmel’s portfolio companies.”

Itzik Avidor
Since joining Carmel Ventures at its inception in 2000, Itzik served as the Firm’s Chief Financial Officer. Itzik has extensive financial experience including managing M&A transactions and IPO processes of Israeli companies on NASDAQ. Prior to joining Carmel, Itzik served as a Senior Audit Manager at Deloitte Brightman Almagor. Itzik earned his BA in Accounting and Economics and his MBA in Accounting and Marketing from Tel Aviv University.

Ronen Nir
Ronen Nir joined Carmel Ventures at the beginning of 2008 as Principal. In this role he sourced and led pre-seed investments and worked with entrepreneurs and portfolio companies on business strategy, operations and fundraising. Prior to joining Carmel, Ronen spent 4 year with Verint where he served as Director and VP Product of the ACS Division. Before that, Ronen served as Project Team Manager in ECtel Ltd. Ronen also served 13 years in an elite Israeli Defense Forces Intelligence Unit where he holds a rank of Lieutenant Colonel (Res.). Ronen earned his BA in Economics and Middle East History from Tel Aviv University, and an MSc in Technology Management from the University of Maryland University College (UMUC).

About Carmel Ventures
With over $600 million currently under management, several successful exits, and a growing portfolio of promising start-ups, Carmel is among Israel’s top-tier venture capital funds. Carmel’s investments are focused primarily on early stage companies in the fields of Software, Communications, Internet, Media, Semiconductors, and Consumer Electronics. Founded in 2000 by pioneers and leaders of the Israeli high tech industry, Carmel provides significant capital and active, hands-on support through the growth cycle of its portfolio companies and is recognized as a true company building fund in Israel. Carmel, headquartered in Herzliya, Israel enjoys a worldwide network of industry, strategic and investment resources.
Carmel is an affiliate of the Viola Partners Group, a leading innovative private equity investment group with over $1.8B under management focused on technology-based investment opportunities in Israel. For more information, please visit www.carmelventures.com.