Greenfield Cities Holdings Makes First Investment in Israel
Backed by TPG Growth and based in Israel, Greenfield to target early growth-stage companies in the technology sector, following deal with Avanan
Tel Aviv, Israel, Fort Worth, Texas, and San Francisco — May 17, 2016 — Greenfield Cities Holdings, L.P. (“GFC”), a company focused on investing in and nurturing early growth-stage companies, today announced that it has made its first investment, in Avanan Inc., a provider of SaaS tools for cloud security management. The investment aligns with GFC’s focus on technology companies that have operations in Israel and global aspirations. GFC is a joint venture between TPG Growth, a $7 billion global middle market and growth equity investment fund, and established technology investor Yuda Doron.
GFC, through its founding team and with the support of TPG’s global network of experts, targets early growth-stage companies that offer innovative products and have strong management teams. Post-investment, GFC is a hands-on partner that helps companies with a variety of challenges, including sales effectiveness, customer sourcing, new market expansion, and human capital. GFC is looking for investment opportunities of up to $20 million.
“This is an incredibly exciting time for the entrepreneurial community in Israel,” said Yuda Doron, Co-founder and Head of GFC. “We’ve seen many innovative companies built here, and we anticipate identifying more powerful ideas and tenacious entrepreneurs. We also look forward to collaborating with the VC community in Israel to accelerate the momentum we’re seeing.”
TPG Growth is a co-founder and the principal partner of GFC. Founded in 2007, TPG Growth is the middle market and growth equity platform of global private investment firm TPG. TPG Growth has deep experience partnering with companies—such as Airbnb, Survey Monkey, Uber, and Zscaler—that are innovators within their spaces.
Yuda Doron, Co-Founder and Head of GFC, has more than 20 years of experience working with and investing in technology companies. He collaborated with TPG Growth on its investment in Infinidat and serves as Senior Advisor to TPG. Prior to that he served as a Senior Advisor to Sumeru and Silver Lake Partners’ growth fund.
“TPG Growth has invested in entrepreneurs across 13 countries, and Israel is a market we find particularly exciting,” said Bill McGlashan, Founder and Managing Partner of TPG Growth. “GFC highlights one of our core beliefs: in the power of combining specific sector and market expertise with a global network. We look forward to working with Yuda and the rest of his team at GFC as they look to build and globalize great businesses.”
Avanan is a provider of SaaS tools for cloud security management. Founded in 2014, the company has previously raised funds from various venture capital firms including StageOne Ventures and Magma VC. With this additional funding, Avanan is positioned to further enhance its product suite, build a leading sales organization, and grow its customer base.
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