Lenovo, Shengjing to Invest in Canaan Partners Israel

Izhar Shay, founder of Canaan Partners Israel closed recently the fundraising for the newly formed Israel based venture capital fund Canaan Partners Israel. Shay raised a total of $60 million from investors in Asia, Europe and the US.

Chinese computer giant Lenovo invested $10 million in the new fund. Chinese venture fund Shengjing also invested $8 million. Other investors are Canaan Partners and George Conrades, Chairman of Akamai.

The new fund will invest in early stage Israeli start-ups from the mobile, enterprise software, web applications and social networking. Canaan Partners Israel already invested $2 million in Rollout.io, an Israeli start-up company which developed a system to identify and fix bugs in mobile apps.