Key Takeaways
- • Vintage Investment Partners raised $920 million in new capital, bringing its assets under management to more than $4.8 billion, according to the primary source report.
- • The Israeli-founded, venture-capital-only firm, established in 2003, invests across venture funds, direct company stakes, secondaries, and co-investments alongside portfolio managers.
- • Per the Q2 2026 PitchBook-NVCA Venture Monitor, cited by Vintage, just three firms accounted for nearly half of all venture capital raised in the first half of 2026.
- • Vintage cites longer private company lifecycles and AI-driven value creation outside public markets as drivers of rising demand for venture exposure and liquidity.
- • Leadership changes accompanied the raise: Tzlil Kovetz and Ilan Leiferman were promoted to partner, and Brachie Sprung joined as chief investor relations officer.
Summary
Vintage Investment Partners has raised $920 million in new capital, lifting its assets under management above $4.8 billion, according to the firm's announcement reported by CTech. The Israeli-founded firm, established in 2003 and focused exclusively on venture capital, has offices in Tel Aviv, London and New York. Its strategies span backing fund managers, acquiring existing stakes in funds and private companies, and investing alongside venture firms in their portfolio companies.
The raise reflects a structural shift in venture capital. Companies are remaining private for longer, which extends the period during which early investors, employees and other shareholders have limited opportunities to sell their stakes. Vintage says demand for both venture exposure and liquidity for existing investments is growing as a result. Artificial intelligence is amplifying the trend, since AI companies can reach significant scale while still private, concentrating value outside public markets.
Venture capital is also becoming more concentrated. Citing the Q2 2026 PitchBook-NVCA Venture Monitor, Vintage noted that three firms accounted for nearly half of all venture capital raised in the first half of 2026. Vintage argues this concentration makes it harder for investors to secure allocations in sought-after funds, increasing the value of long-standing relationships with leading managers.
Asaf Horesh, Vintage's co-managing partner, said, "More value is being created in private markets, over shorter timelines, than at any point in the history of venture." He added that the firm has raised more than $1.1 billion over the past three years across primary, secondary and co-investment strategies. Secondary investments, in which investors acquire existing shares from shareholders rather than newly issued stock, offer one route to liquidity without requiring a company to go public or raise fresh capital.
The fundraising coincided with leadership changes. Tzlil Kovetz was promoted to partner after more than five years at the firm, and Ilan Leiferman, who leads the Value+ platform, was also promoted to partner. Brachie Sprung joined as chief investor relations officer, bringing two decades of experience in venture capital, fundraising and strategic communications.
The raise reflects a structural shift in venture capital. Companies are remaining private for longer, which extends the period during which early investors, employees and other shareholders have limited opportunities to sell their stakes. Vintage says demand for both venture exposure and liquidity for existing investments is growing as a result. Artificial intelligence is amplifying the trend, since AI companies can reach significant scale while still private, concentrating value outside public markets.
Venture capital is also becoming more concentrated. Citing the Q2 2026 PitchBook-NVCA Venture Monitor, Vintage noted that three firms accounted for nearly half of all venture capital raised in the first half of 2026. Vintage argues this concentration makes it harder for investors to secure allocations in sought-after funds, increasing the value of long-standing relationships with leading managers.
Asaf Horesh, Vintage's co-managing partner, said, "More value is being created in private markets, over shorter timelines, than at any point in the history of venture." He added that the firm has raised more than $1.1 billion over the past three years across primary, secondary and co-investment strategies. Secondary investments, in which investors acquire existing shares from shareholders rather than newly issued stock, offer one route to liquidity without requiring a company to go public or raise fresh capital.
The fundraising coincided with leadership changes. Tzlil Kovetz was promoted to partner after more than five years at the firm, and Ilan Leiferman, who leads the Value+ platform, was also promoted to partner. Brachie Sprung joined as chief investor relations officer, bringing two decades of experience in venture capital, fundraising and strategic communications.
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