French government investment bank invests in Jerusalem Venture Partners
French government investment bank Bpifrance has joined the new fund being raised by Jerusalem Venture Partners (JVP). The investment is Bpifrance's first in an Israeli venture capital fund. The $200 million fund being raised by JVP is its eighth in the US capital market. The exact amount of Bpifrance investment was not disclosed.
JVP's Foundation Founded in 1993 under the famed Yozma program by Dr. Erel Margalit, Jerusalem Venture Partners has created and invested in over 120 companies in Israel, the US and Europe. JVP’s investment strategy is spearheaded by a deep expertise in identifying opportunities from inception and growing them into global industry leaders.
JVP’s Centers of Excellence have become magnets for hundreds of strategic players visiting each year as well as hundreds of entrepreneurs that are evaluated each year, becoming the gateway to the world. JVP, one of Israel's leading funds in high-tech and global innovation, was recently rated by the Preqin research company as one of the world's six best venture capital funds. JVP has raised $1.3 billion and invested in over 120 companies since it was founded in 1993.
Bpifrance was founded in 2012, is one of the largest government investment groups in Europe, with activity in the tens of billions of euros. Bpifrance has been investing in Israel for several years already in cooperation with the Israel Innovation Authority and other agencies and has also invested in several ventures directly. Bpifrance's investment in JVP follows a series of investments by French companies to date in JVP portfolio companies including Publicis, La Maison, Orange Groupe, and others.
Other than its function as an industrial investment bank, it is also used by the French government to promote innovation and research, after the French President Emmanuel Macron declared that France would be Europe's "startup nation." Macron has taken a number of measures aimed at promoting innovation in France and positioning it as a leader in entrepreneurship. It is believed that this vision includes an emphasis on fostering international cooperation with focuses of international innovation, including with Israel through JVP.