Israel Secondary Fund (ISF)
Private equityTel Aviv · Growth · 10 people tracked
Also known as OSRN LTD
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Investment thesis
ISF focuses exclusively on the secondary market within Israel's technology ecosystem. It provides liquidity by purchasing shares in private tech companies from investors, founders, and employees, acquiring LP interests in venture funds, and developing tailored liquidity solutions for funds. Its approach centers on creative secondary structures designed to align the interests of founders, management, LPs, and investors, described as a Triple Win Approach. Since launching in 2008, ISF has completed more than 80 transactions in private tech companies and venture funds, positioning itself as a leader in the Israeli secondary market and a contributor to the long-term growth of the wider Israeli technology industry.
Source: firm website, verified Oct 13, 2026.
Team · 10 people
from the firm's websiteDror Glass co-founded Israel Secondary Fund (ISF) in 2008 and has over 25 years of investment experience, including roughly 20 years in secondaries. He previously served as Managing Director at Nexus Global Partners, as Executive Director of the Wharton–Recanati Program at Tel Aviv University from 2002 to 2007, and as Managing Director at Orama Investments (part of the IDB group). He is a registered C.P.A. (Isr) and holds a BA in Accounting and Finance and an MBA from the University of Southern California.
Shmuel Shilo is a founder of the Israeli secondary market and previously served as managing partner of Harvest Secondary Fund, Israel's first secondary fund, where he managed Harvest Fund I and Harvest Fund II from 1998 to 2005. He has over 40 years of experience in investment management in Israel and abroad. He holds a BA in Economics and Statistics and an MBA from Tel Aviv University.
Eva Hubsman joined ISF as CFO in 2018 and has close to 20 years of experience in venture capital finance and global corporate strategy. She previously served as CFO at Triventures, a multistage healthcare-focused fund in Israel and the USA, and before that held global strategy roles at Samsung HQ in South Korea working on healthcare and renewable energy business opportunities. She is a Certified Public Accountant in Israel, holds a BA and MA in Economics from Ben Gurion University, and an MBA from IMD in Switzerland.
Nir Linchevski has worked in the Israeli and global VC and PE industry for around 20 years. He co-founded and was a partner at Shiraz Investments (2007-2012), where he led the firm's investment in asset manager Altshuler Shaham and served as its chairman. He previously held roles as Managing Director at US-based VC Vantage Point Capital Partners and as a partner at Israeli VC firm Formula Ventures. He holds a BA in Economics (Amirim Honors Program) and an MBA from the Hebrew University in Jerusalem.
Ophir Reshef has worked as both an investor and a technology executive. He began his investment career at Bessemer Venture Partners, backing the A rounds of Wix, Fiverr, and Intucell, and later held executive roles at Similarweb, Funtomic (now Candivore), and Yotpo, where he served as CFO and led two acquisitions. He now focuses on secondary investing, working with growth-stage founders and early employees seeking liquidity.
Jonathan Teitelbaum joined Israel Secondary Fund (ISF) in 2022 after relocating to Israel. He previously worked as an investment banker in the Technology, Media, and Telecommunications group at Credit Suisse in New York, advising on M&A, valuation, capital raising, and global strategy, and before that served as an Enterprise Risk Management Actuary at reinsurer Everest Re. He holds a BA in Mathematics from Yeshiva University and an MBA from The Wharton School at the University of Pennsylvania.
Yuri Sherman joined ISF in 2023 as a Principal and member of the investment team, where he evaluates investment opportunities and conducts due diligence across industries. He previously served as Director of Corporate Development at Lightricks, an AI photo and video company, and earlier worked on the investment team at Discount Capital and in UBS's investment banking division. He holds a BA in Economics from Reichman University in Herzliya.
Roei Zilberberg is a member of the investment team at Israel Secondary Fund (ISF), which he joined in 2021, where he also manages the firm's portfolio monitoring process and maintains contact with portfolio companies. Before ISF, he worked as an analyst in the finance department at Intel, leading global cost savings initiatives and helping develop business intelligence and analytics tools. He holds a BA in Economics and Management from Ben-Gurion University.
Sara Hajala joined Israel Secondary Fund (ISF) in 2024 as Controller, where she handles the fund's financial management including cash flow, equity evaluation, financial and tax reporting, capital accounts, and investor relations. Before ISF, she was an Audit Manager at Ernst & Young (EY), focusing on venture capital and private equity and managing audit teams. She is a Certified Public Accountant (CPA) in Israel and holds a B.A. with honors in Economics and Business Administration from Bar Ilan University.
What they invest in
from 1 of 2 portfolio companiesAI & Machine Learning ×1E-commerce ×1Fintech ×1
Investments · 2 tracked
founders shown can be your intro pathBy year:2021 · 12014 · 12 dated
Finaloop provides an AI-powered financial platform combining accounting software with oversight from dedicated accountants to deliver real-time accounting, inventory tracking, and finance operations, including reconciled P&L, balance sheet, cash flow, and SKU-level margins.
AI & Machine LearningE-commerceFintech
Yaron Revah(Founder)inEliran Azulai(Founder)Lio Pinchevski(Founder)Lioran Pinchevski(Founder)Omri Haim(Founder)
Co-investorsAccelAlephCommerce VenturesLightspeed Venture PartnersVesey VenturesOperator LP
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
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Frequently asked questions
- What stage does Israel Secondary Fund (ISF) invest at?
- Israel Secondary Fund (ISF) invests at the Growth stage.
- What is Israel Secondary Fund (ISF)'s typical check size?
- Israel Secondary Fund (ISF) typically writes checks of $1M.
- What sectors does Israel Secondary Fund (ISF) focus on?
- Israel Secondary Fund (ISF) focuses on Deep Tech, Sector Agnostic.
- Where is Israel Secondary Fund (ISF) located?
- Israel Secondary Fund (ISF) is headquartered in Tel Aviv, IL.
- Does Israel Secondary Fund (ISF) lead rounds?
- Yes, Israel Secondary Fund (ISF) leads investment rounds.
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