Benson Oak, which is a major investment banking firm headquartered in Czech Republic, recently announced that they will be investing over $100 mln in those start-ups which are based in Israel and have a strong emphasis on blockchain technology. The official source of Israeli news outlet, the Jerusalem Post also reported that Benson Oak Ventures will have the main objective of working with Israeli market.
The fund has reportedly already risen over $25 mln and is expecting to have a further of $75 mln in the future as well. The initiative is positioning itself in the Israeli market as being a jurisdiction and local business projects at the same time.
The source also informs that earlier the Managing Partner of Benson Oak, Robert Cohen told the Jerusalem Post his official comment about the initiative which stated: “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”.
The fund is currently in the process of creating a new direction while details and further information about potential participants and members of the fund will still be announced as the info becomes available.
The new technology of blockchain hence becomes more and more popular and widely used in Israel. Followed the recent news, reported earlier this year about the country adopting hands on stance towards blockchain based innovation in government services and beyond it, the wide development of the technology can be considered as measurable.