Ibex closes $87M Israel secondary fund for stakes in private companies

US-based investment firm Ibex Investors has closed an oversubscribed $87 million fund focused on secondary investments in Israeli private companies and appointed Osnat Velingard as portfolio manager in its Tel Aviv office. The new vehicle, Ibex Secondary II LP, is the firm’s sixth Israel-focused fund. It is designed to purchase existing stakes in private growth-stage companies from investment funds, employees and the companies themselves, giving existing shareholders a route to liquidity without requiring the company to go public or raise a new financing round. The fund follows Ibex’s first Israel-focused secondary fund, which raised $40 million in 2024, as well as a $106 million early-stage Israel venture capital fund raised the same year. The firm previously raised a $100 million early-stage Israel fund in 2020, launched an open-ended Israeli public-equities fund that year and has operated an evergreen public-private Israel fund, now managing more than $400 million, since 2012.