Google Chairman’s VC Fund Adds Third Israeli Partner

New partner's role will be enlisting entrepreneurial partners in Israel for the fund and tightening cooperation with U.S. and Israeli entrepreneurial circles.

Innovation Endeavors, the venture capital fund led by Google chairman Eric Schmidt, said Monday that entrepreneur and investor Yuval Shachar had come aboard as a partner as the fund steps up investing in Israel.

Shachar is the fund’s third Israeli partner after Doron Alter and Dror Berman. His role will be in enlisting entrepreneurial partners in Israel for the fund and tightening cooperation with U.S. and Israeli entrepreneurial circles.

“We’ve decided to significantly deepen our activity in Israel over the coming years, not only in the number and size of investments but also in the variety of activity, with the goal of supporting and promoting the community of entrepreneurs in Israel and strengthening its bonds with the community in the U.S.,” the fund said.

Shachar joined Cisco Systems as development manager after it bought out P-Cube, the Internet traffic analysis developer he co-founded, for $200 million in 2004. P-Cube was the third start-up Shachar sold Cisco after InfoGear Technology, which he sold for $308 million, and PentaCom, which carried a $118 million price tag.

Having left Cisco in 2009, Shachar will continue as partner in the investment fund Marker.

In 2011 Innovation Endeavors was the most active venture fund in Israel, with eight investments. Last year, however, it made only two investments.

Reuters