IBEX Investors Raises $87 Million for New Secondary Fund Targeting Israel

US-based venture capital firm IBEX Investors has successfully raised $87 million for a new secondary fund focused on Israeli investments. This fund will specialize in secondary investments, acquiring shares from entrepreneurs, employees, and early investors in growth-stage companies. This marks IBEX's second secondary fund dedicated to Israel; their previous one, raised in 2024, secured $40 million.

IBEX Investors manages a diverse portfolio of funds in Israel, including Ibex Israel VC II ($106 million raised in 2024 for early-stage companies), Ibex Israel VC I ($100 million raised in 2020), a fund exclusively for Israeli public companies launched in 2020, and a hybrid evergreen fund for public and private companies established in 2012, which was the start of their Israeli operations. In total, IBEX manages over $400 million in Israel.

The new secondary fund will be managed by Osnat Wellingrad, who joined IBEX after five years at Susquehanna Growth Equity, where she invested in Israeli and European growth-stage companies across various sectors. She will operate from the firm's Tel Aviv office, joining local partners Aharon Rinberg and Adi Dangoor-Zuckerman, and the broader Israeli-based fund team.

Justin Borus, founder and chief investment officer of IBEX Investors, stated that investors recognize the opportunities in Israel, noting that the firm has raised $267 million for Israel-focused funds since October 7, 2023. Borus, who founded the Denver, Colorado-based firm, oversees more than $1 billion in assets globally.

Recent early-stage investments by IBEX in Israeli startups include Offroad AI and Reclaim Security (cybersecurity), LeanCon (proptech), Localbird (traveltech), and Viewz (fintech). The firm also recently saw several successful exits, including the acquisition of DigitalOwl by Datavant, Cyclops by Check Point, and Traceloop by ServiceNow.