Benson Oak has set up a $100 million fund to invest in Israeli based blockchain startups. It has already raised $25 million for the said fund and the rest to be raised soon as reported by Jerusalem Post. Benson oak’s first fund was an early investor in the internet security firm AVG which generated 100x return for its investors when the company went public.
According to its managing partner Robert Cohen, Benson oak already have an existing relationship with Israeli startups. An excerpt below:
“I believe that there are great entrepreneurs in Israel who are leading the platforms of the future, with creating and disruptive use of blockchain technologies,” he said. “I moved to Israel six years ago, and with a passion to build companies, I have established Benson Oak Ventures as a new platform to provide financial and operational capital to the best entrepreneurs in Israel and around the world.”
Benson has almost raised $5 billion since 2003, and its bullishness in Israeli blockchain space is aligned with the Israeli government’s stance on the sector. The Israeli government has been supportive with its regulation towards the blockchain space, and Benson Oaks expect the twin benefit of Israeli startup ecosystem and governments hand-on stance towards the sector to generate above-market returns for its investors.