JVP secured $400m for venture investment

Wanted to raise $500m but says its achievement is a coup these days
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Israeli venture capital fund Jerusalem Venture Partners has secured commitments for $400 million for investment, Ma'ariv reports.

The fund, which operates chiefly from New York these days, had hoped to raise $500 million, but fell short due to the adverse market conditions.

JVP's managers do not see the shortfall as a blow, Ma'ariv writes. Under the circumstances, raising such a large amount for venture investment is a considerable coup.

Its strategic investors include Infineon Technologies (NYSE:IFX) (formerly Siemens Semconductor Group) and Nortel (NYSE:NT).

Its financial backers include Boeing (NYSE:BA), Merrill Lynch, Reuters, Bank Leumi and the Hebrew University of Jerusalem.