Sequoia Israel: $100m, 4 Exits, 1 Month

Not all the exits were something to write home about - some were mediocre, and some were too low to fit the venture capital model - but all of them were profitable for the fund, which is managed by Haim Sadger, Shmil Levy and Gili Raanan.

March was a good month for Sequoia Capital Israel: Last Thursday, it completed the sale of Syntech Media to the U.S. private equity fund Riverwood, bringing it to four exits and $100 million for the month.

Not all the exits were something to write home about - some were mediocre, and some were too low to fit the venture capital model - but all of them were profitable for the fund, which is managed by Haim Sadger, Shmil Levy and Gili Raanan.

The first exit for the month took place on March 2, with the sale of Unisfair - which develops platforms for managing virtual events - to the U.S.-based conference call company InterCall for somewhere between $30 million and $40 million.

According to the research company IVC Online, Sequoia put $7 million in Unisfair in August 2006, and is thought to have slightly more than doubled its investment.

The firm's second exit for the month came on March 20, with the sale of mobile phone apps company Snaptu to Facebook for about $70 million. This marked Facebook's first Israeli acquisition, and only its second outside the United States. Sequoia invested about $5 million in Snaptu, and reportedly received at least $30 million.

The following day, Sequoia had another exit - Provigent was bought up by Broadcom for a reported $340 million (the figure reported to the press was $313 million ). Sequoia had invested a bit more than $7 million in the broadband wireless chipmaker, and took home $35 million.

Sequoia's fourth sale for the month was on Thursday, with Syntech. Sequoia invested $7 million in the company, and is expected to get $25 million from the $100 million exit.

The Israeli fund is still investing in start-ups: A few months ago it invested in a video technology company called Interlude, and it is expected to announce a new investment in a week.