The turbulence that the markets have been going through will create a better marketplace, a director of one of the country’s top venture capital funds said.
“The upheaval in the markets in general and the technology sector in particular has created many challenges for the technology sector, but it also has positive things, no more inflated values, no more growth models that do not hold water, and in general it can be said that the market is becoming much more realistic and much healthier,” said Or Ben Shoshan, director and managing partner of SIBF, at his fund’s investor conference held at the O-TECH complex in Kfar Saba recently.
“The upheaval in the markets in general and the technology sector in particular has created many challenges for the technology sector, but it also has positive things, no more inflated values, no more growth models that do not hold water, and in general it can be said that the market is becoming much more realistic and much healthier.”
Or Ben Shoshan
He also said that the SIBF’s fundraising and the economic power of the companies in which the fund has invested so far are growing.
“We believe that the technology sector will recover in 2024, and today’s market is a great investment opportunity.”
Where has SIBF invested?
The fund specializes in investments in four areas: renewable energy, foodtech, health care, and agrotech, and in technologies designed to boost industrial plants while lending to companies up to Round C.
Ben Shoshan further stated that so far, the fund has invested in 38 technology companies with investments worth up to $40 million.
The total value of the fund’s investments so far is about $400m.
About 150 investors and managers of companies in which the fund has invested in Israel participated.
At the conference, Meir Ben-Shabatt, the former chairman of the NSC, and Tzvika Barkai, the CEO of Picodya, also spoke.
SIBF partners are Ben Shoshan, Eli Bensimon, Aviv Cohen, and Boaz Or-Shraga.