Benson Oak to Invest $100 Million Into Israeli Blockchain Technology
Jul 9, 2018
Investment firm Benson Oak Capital announced Sunday, July 8, that the company would be investing $100 million into Israel-based startups using blockchain technology. According to reports from the Jerusalem Post, Benson Oak has already raised $25 million and is planning to raise an additional $75 million.
Benson Oak, an investment firm founded in the Czech Republic in 2001, is backed by a deep pool of international investors. Since opening, the firm has raised over $5 billion worldwide. In Benson Oak began its first technology fund in 2013, which focused on Internet security company AVG. The investment generated a 100 times return for Benson Oak after AVG went public on the New York Stock Exchange.
Following its previous tech successes, Benson Oak is now turning its attention to blockchain technology. The firm’s managing partner Robert Cohen told the Jerusalem Post, “I believe that there are great entrepreneurs in Israel who are leading the platforms of the future, with creating [sic] and disruptive use of blockchain technologies.”
He stated further, “I moved to Israel six years ago, and with a passion to build companies, I have established Benson Oak Ventures as a new platform to provide financial and operational capital to the best entrepreneurs in Israel and around the world.”
Jacob Godshall is a former professional poker player turned cryptocurrency enthusiast. He is a contributing writer at Unhashed, and aims towards furthering the spread of ideas and important information surrounding all things crypto. In his spare time, Jacob enjoys reading and making electronic music