Benson Oak, an investment bank from the Czech Republic, has created a new Israel-dedicated fund. The firm said, on Sunday, July 8, that it had secured $25 million out of the $100 million total investment.

The new fund will be called Benson Oak Ventures. It will support startups in Israel, especially those in the blockchain sector. The firm is banking upon Israel’s own version of Silicon Valley, Tel Aviv, where several technology-based startups are based.

Benson Oak has previously invested in internet companies. In 2003, it launched its first technology fund, investing in AVG, which is an internet security company. The company went public and listed on the New York Stock Exchange, bringing 100x return for Benson Oak.

It, now, has three funds investing in high-end technologies in the United States, Czech Republic, and Israel. The new Israeli fund could bring investments from strategic companions, family offices as well as private individuals around the globe.

The firm’s managing partner Robert Cohen said that they have some experience in the Israeli market. He said:

“I believe that there are great entrepreneurs in Israel who are leading the platforms of the future, with creating and disruptive use of blockchain technologies. 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.”

Israel, on the other hand, has been supportive of the technology. In fact, Israel Diamond Exchange, one of the three largest such exchanges in the world, announced its own cryptocurrency earlier this year.

Known as Carat, the cryptocurrency is expected to revolutionize the diamond market in the country that largely runs on cash. Minimal documentation is another problem in the industry that was pointed out by the Justice Ministry of Israel.

In December last year, news about a state-sponsored cryptocurrency shocked the world. Some news outlets reported that the country’s regulators have been working on a digital Shekel for months.

Will Blockchain Boom in Israel’s Version of Silicon Valley? $100m Investment Fund Created was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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