The online lender's wealth management subsidiary has reached the first close of its second venture capital fund to be focused on Israel, and is targeting $50m for the final close.
China-headquartered peer-to-peer lending platform CreditEase has raised $32.2m for the first close of a venture capital fund that will invest in Israel-based technology developers.
The CEIIF II fund is being administered by the company’s CreditEase Wealth Management arm, and has set a final target of $50m. CreditEase closed the predecessor fund, CreditEase Israel Innovation Fund I, at $30m in late 2015.
CEIFF II will predominantly look to invest in six areas: virtual and augmented reality, artificial intelligence and machine learning,…
