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CreditEase Israel Innovation Fund II holds first close at over USD30m

CreditEase Wealth Management has held the first closing of its second fund, CEIIF II, which has raised USD32.2 million since its launch one month ago towards a target capital commitment of USD50 million.

The fundraising follows the CreditEase Israel Innovation Fund I, which closed in October 2015 after raising USD30 million.
 
“Reaching the first close for CEIIF II within the first month has given us renewed confidence that Israeli technology and the investment opportunities it brings continue to be a sweet spot for Chinese high-net-worth individuals,” says Richard Williamson, head of offshore business at CreditEase Wealth Management.
 
“CreditEase Wealth Management is the first Chinese financial-services firm to establish a local office in Israel,” says Tayman Kan, Managing partner of CEIIF. “With China’s economy transforming from traditional labour-intensive manufacturing to a service- driven model, we continue to see more and more Chinese investors diversifying their investments across regions and asset classes. We work closely with our partners in China to bring our Chinese clients the untapped and unlimited potential between Israel and China.”
 
Israel’s achievements in technology and innovation have earned the country the title Silicon Wadi, after Silicon Valley in California. It is third, after the US and China, in the number of companies listed on the NASDAQ stock exchange, and it has more start-ups than the entire European Union.
 
All these favourable conditions made 2016 a record year for Israeli VC.
 
“In the past year, our first fund successfully completed eight investments in a mixture of early- and later-stage technology companies in Israel,” says Benjamin Weiss, managing partner of CEIIF. “These included imVision Technologies, CellMining, Knowmail, Kaminario, Corephotonics, Saguna Networks, DiACardio and GamEffective. And our investments position us as one of the more active VC funds in Israel.” 

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