Israel-based Bank Leumi revealed that it is in advanced talks to invest around US$50 million in three funds of the Viola Group. The discussions are being made through Banks Leumi's investment arm, Leumi Partners.
Viola Group is putting up at least US$500 million for three of its funds. The funds invest in various technology companies. The three Viola Group funds are Viola Capital, Viola Private Equity, and Carmel Ventures. Viola Capital, which has around US$320 million in assets under management, offers credit to high-tech firms and manufacturers. Viola Private Equity invests in high-tech companies with global operations. Carmel Ventures invests in high-tech start-ups. Leumi Partners will reportedly make the biggest investment in Viola Capital.
Analysts expect Bank Leumi to be a significant investor in the Viola Group funds. The Israeli bank wanted to become a leading bank in high tech. Its initially investments in Viola Group will take them one step towards that goal.
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