Most of the major e-commerce companies are looking forward to investing in the best opportunities available in the market, newest among them is Alibaba Group Holding Ltd (NYSE:BABA). Reports claim that Alibaba has decided to invest in Israeli venture capital firm’s funds.
Insights On Alibaba’s Decision:
The global financial market has started giving positive returns after the financial crisis in 2008-09 followed by a long transition period. It has prompted all the companies to make the best out of these conditions. Alibaba’s decision to invest in Jerusalem Venture Partners has come at a time when the financial market in Israel is doing fine. Jerusalem Venture Partners is one of the most sought after and highly followed venture capital firm in the country and has the potential to give positive returns for a long time.
The announcement of this investment was first made by Kobi Rozengarten, Managing Partner, Jerusalem Venture Partners on Monday during the annual general meeting of the company. Though he made it clear that Alibaba Group Holding Ltd (NYSE:BABA) had invested a significant amount in the firm, he refused to share the financial details. Various rumors started floating in the market as soon as this news hit the media platforms. One of the leading newspapers of the country The Calcalist financial newspaper published in its online edition that this deal could be worth over tens of millions of dollars.
Currently, JVP has funds close to $1 billion under its management. The Calcalist also stated that it was first of its kind of investment for the e-commerce giant as the firm never had invested in the venture capital funds in the past. As per the report, a delegation of around 20 people has breezed in Israel this week to attend a conference on cyber security technology. They will also have a meeting with JVP board once the conference is over.