Viola's Second Fund at $250M, May Go to $300M

Apr 15 2015 | 12:18pm ET

Viola Private Equity has announced a soft close for its second fund at $250 million, although it may ultimately reach a hard cap of $300 million.

Herzeliya-based Viola launched Viola Private Equity II with investments from institutional investors and family offices primarily in the U.S., Europe and Israel, according to a company statement. The fund also has equity participation by Viola's general partners and affiliates and, for the first time, received investments from Asia, including China.

Viola is a growth equity fund focused on technology companies located in Israel. The group invests in high-growth firms with a minimum of $15 million in annual revenue in the enterprise software, e-commerce, cyber security, fintech, and medical device sectors. 

The fund will make investments into 10 to 12 firms, deploying $20 million to $40 million per business. It has already made one investment out of the new fund, $12.5 million into Optimax Investments Ltd., a Israeli online commerce company that sells eyewear though the website

The company’s first fund made 12 investments and has exited from four, according to data from Dow Jones. 

Viola Private Equity was founded in 2008 and is part of the Viola Group, an investment company with more than $2 billion in assets under management across VC, direct lending and PE activities. 

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