Jerusalem Venture Partners (JVP) has announced the interim closing of its largest fund, JVP IV, with $350m in commitments. The new fund targets early-stage communications and Internet infrastructure companies.
Contrary to slowing venture capital trends, JVP has maintained a steady investment pace, resulting in a 68% increase in capital invested in the first half of 2001 over the same period last year.
Through JVP IV, we're creating a new model for international venture capital investing. This model utilises a cohesive team approach to investing that leverages our past experience of growing international markets for Israeli companies, of partnering with local investors to enable larger rounds of financing, and of effectively supporting our entrepreneurs across three continents, said Erel Margalit, JVP founder and managing partner.
JVP IV's limited partners make up a global network of strategic partners, institutional investors and financial institutions including France Telecom, Infineon and Boeing.
By Janet Du Chenne
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
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