Fortissimo I completed a first closing of 60 million
Fortissimo Launches a New Technology Private Equity Fund
May 16, 2004
Fortissimo Capital announced today that it has launched its investment operations. The Fund recently completed a first closing of $60 million. Investors in the fund include many of Israel’s leading banks, provident funds, insurance companies and pension funds.
Fortissimo will invest in technology companies that have an existing product line, a solid revenue stream and an existing customer base. The Fund intends to facilitate the future growth and expansion of its portfolio companies through capital infusion, increased sales and marketing channels, strategic planning, partnerships, and mergers and acquisitions of complementary technologies. The Fund will invest in a variety of situations ranging from taking significant stakes in publicly traded companies to investing in spin-offs of divisions of companies to taking active stakes in private companies. Fortissimo plans to invest either alone or via its syndicate of investors between $5 million and $25 million per company.
“Our central goal is to build long-term relationships with managers that will allow them to focus a majority of their efforts on executing the strategic growth plan without being forced to consider the results of the upcoming quarters,” said Yuval Cohen, Managing Partner of Fortissimo Capital. “In this framework, our intention is to support companies that plan to grow organically as well as via external partnerships and acquisitions.”
Fortissimo Capital was established by Mr. Yuval Cohen, formerly General Partner at JVP. Previously, Mr. Cohen spent eight years in the United States where he worked in Silicon Valley in various executive capacities in international technology companies including Intel and DSP Group.