The venture capital firm backed by Ofer Holding Group sells its stake in the Israel-based internet tools company, giving it a valuation of $1.3bn.
Yozma Venture Capital, backed by a unit of Ofer Holdings Group, has sold its stake in Israel-based internet applications company Conduit for $100m.
The sale of the 7% stake gives the Israel-based company a $1.3bn market capitalisation, according to news provider Globes. The stake was reportedly sold to US-based bank JPMorgan, Globes said. Conduit confirmed the stake buy on Wednesday, which it said was bought by JPMorgan’s digital growth fund.
Reports suggested Yozma was originally in negotiations in February…
