Several Asian strategic investors including Baidu Inc., Ping An Insurance Company of China, Ltd., and Qihoo 360 Technology Co. Ltd. have invested in the fund as limited partners (LPs), says the statement without specifying more details.
The fund also includes a significant equity investment contributed by Carmel’s general partners (GP) and affiliates.
The vehicle will invest in early-stage transformative technology companies in high growth sectors that include enterprise software, data center infrastructure, big data, cyber security, financial technology, digital media and consumer applications.
Carmel, with over US$800 million under management, began investing out of the new fund in January 2014.
It has made investments in PlayBuzz, LuckyFish and three other early stage technology companies.
Founded in 2000, Carmel is a member of Israeli technology-focused private equity entity the Viola Group, and has 35 active portfolio companies.