Israel Cleantech Ventures

Israel Cleantech Ventures

Israel Cleantech Ventures (ICV) was founded in 2005 by Eli Nir and Isaac Hillel, both veterans of Israeli high-tech and venture capital. The firm's founding coincided with the early wave of global climate technology investing, and it remains focused exclusively on Israeli-originated startups. ICV does not manage outside family capital in a traditional single-family-office structure; it operates as a venture capital fund with institutional and high-net-worth limited partners (public record). The firm invests across seed, Series A, and occasionally Series B rounds, targeting capital-efficient companies in energy efficiency, water treatment, renewable energy, agricultural technology, and industrial materials. Portfolio companies have included Aqwise (water treatment), GreenRoad (fleet efficiency), SolarEdge (solar inverters, IPO 2015), and RadGreen (smart grid). ICV typically leads or co-leads rounds, taking board seats. Geographically, the firm is anchored in Israel but considers global markets for its portfolio companies from the outset (per the firm's statements). ICV has made over 30 investments since inception, with total deployment exceeding $100M (public record). The firm's team has remained lean, with approximately 5 investment professionals. Notable exits include SolarEdge's 2015 IPO on NASDAQ and the acquisition of GreenRoad by a strategic buyer. ICV has not established separate philanthropic or operating-company vehicles; its activity remains centered on the venture fund structure. Israel Cleantech Ventures stands out for its persistent geographic and sector focus: it is one of the few venture firms that has concentrated solely on Israeli cleantech for two decades while many peers diversified or shut down. This narrow mandate has given the team deep relationships with Israeli research institutions and corporate partners, a structural advantage in sourcing local deal flow (public record).