The Challenge Fund-Etgar II LP was a pioneering Israeli venture capital firm active from 1995 to 2014, specializing in equity investments in privately held and publicly traded Israel-related companies across all stages and a diverse range of industries. Through its two funds, it invested in 77 portfolio companies, achieving over 30 exits, including significant acquisitions like CopperGate by Sigma Designs, 3DV by Microsoft, and Bitband by Motorola, alongside 10 NASDAQ IPOs and over 20 M&A events. Co-founded by Joseph Ciechanover, who also served as its President and held prominent roles at El-Al Israel Airlines and Israel Discount Bank, The Challenge Fund was among the first investment funds in Israel, providing crucial capital for alternative, Israel-based investments and offering open innovation scouting services to multinational corporations.
