About Us


Israel Secondary Fund ("ISF") acquires interests in Israel related funds and private companies from investors, founders and employees. Since the inception of the secondary market in Israel in 1998, ISF's partners have played a major role in it, executing dozens of transactions. Our investment professionals have experience in a broad range of secondary transactions as well as hands on experience as partners in venture capital and private equity firms. We have collaborated with the majority of PE and VC funds active in Israel, international & Israeli institutions and have formed close relationships with employees, founders and managers of companies.

We believe in the value ISF brings to stakeholders in the Venture Capital and Private Equity community. Creative, discrete and straightforward with a view for long term partnerships and growth, is our way of doing business.

About Visia

What We Do

ISF creates liquidity in the inefficient private equity and venture capital markets by providing flexible capital solutions to Limited Partners, Investors, Entrepreneurs & Employees and General Partners.


  • ISF acquires Limited Partners interests in Israel related VC & PE funds with diversified portfolios. We tailor the transaction to suit the requirements of the sellers and assume future capital commitments.

    Limited Partners Positions

  • ISF acquires interests in Israel-related private companies and portfolios. Sellers include funds, investors, founders and employees. When needed we create Special Purpose Vehicles together with existing GPs or Managers.

    Secondary Direct

  • ISF provides customized solutions, to provide additional capital to Funds and to Limited Partners seeking to reduce risk. When needed we work with fund management and LPs to construct annex funds or other special vehicles.

    Structured Secondaries

We work efficiently to complete complex secondary transactions quickly and discretely, becoming stable long-term focused investors for funds and companies.



ISF is solely focused on the secondary market covering the full spectrum of secondary deals. We acquire limited partner positions and construct structured deals providing additional capital to funds, limited partners and portfolios. We also engage in direct secondary deals where we purchase existing stakes in single companies or entire portfolios from funds, investors, founders and employees.

Our firm is distinguished by its exclusive focus on Israel. Transactions in Israel are relatively limited in size and contain attributes that are country, regulation and industry specific. Being a local fund allows us to have distinct advantages.
As a long term professional player ISF provides sellers with short response time, efficient process and certainty of closure.

Confidentiality is our second nature. As a standalone secondary fund your information is secure with us.
ISF has built unique expertise providing liquidity solutions to all types of secondary transactions. We efficiently evaluate Israel related deals, working with sellers and companies through the complexities sometimes involved, and discretely completing the deal.

Our in-house research, process and relationships enable us to be a leading player, trusted and long term partners to the management team of funds and companies we work with.
In Direct Secondary, after the fund acquires a position in a single company or portfolio, ISF may participate in future rounds together with primary investors. ISF together with our LPs and co-investors have access to large amount of capital and can complete any size of transaction.

The Team

Dror Glass

Founding Managing Partner

Co-founded ISF, Involved in the Israeli secondary market since 2001 with 20 years of investment experience. Previously Managing Director at Nexus Global Partners, a global management consulting firm. Former Managing Director, Orama Investments, member of the IDB group. Former Executive Director, the Wharton – Recanati Program at the Tel Aviv University. Served on the boards of various private and public companies, both in Israel and abroad. Registered C.P.A.(Isr) and holds a B.A. in Accounting and Finance and an M.B.A. in International Business and Finance from the University of Southern California (Dean’s List).

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Eva Hubsman


Joined the ISF team in 2018 as the CFO. Eva is a senior financial executive with close to 20 years of experience in venture capital finance and global corporate strategy. Prior to joining ISF, Eva served as CFO at Triventures, a multi stage healthcare focused fund operating in Israel and the USA. Prior to her time with Triventures, Eva held global strategy roles at Samsung HQ in South Korea, where she focused on new business opportunities in healthcare and renewable energy. Eva is a Certified Public Accountant in Israel, with BA and MA in Economics from Ben Gurion University and an MBA from IMD in Switzerland.

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Shmuel Shilo

Founding Partner

Co-founded ISF, established the secondary market in Israel in 1998 and until 2005 was Managing Director of Harvest Secondary Fund, managing Harvest Fund I (1998), Harvest Fund II (2001) and additional secondary activity. Shmuel has 38 years of experience in management of Israeli and international investments. Holds a B.A. in Economics and Statistics and an M.B.A. from Tel Aviv University.

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Nir Linchevski

Managing Partner

Over the past 15 years Nir has been involved in the Israeli and global venture capital and private equity industry. In 2007-2012 Nir was a Founder and Partner at Shiraz Investments- a privately held PE company and the chairman of Altshuler Shaham, a prominent asset management firm with over 50 billion NIS in assets. Prior to that Nir was Managing Director at Vantage Point Capital Partners, a US based VC with over $4 billion under management. Nir also served as Partner at Formula Ventures, an Israeli VC firm. Nir Holds a B.A. in Economics and Amirim Honors Program and an M.B.A. from the Hebrew University in Jerusalem.

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Josh Scher


Joined the ISF team in 2015 as the fund’s analyst. Josh moved to Israel more than 5 years ago from Cape Town, South Africa to study at the Interdisciplinary Center (IDC). He graduated in the summer of 2014 with a B.A in Business Administration with a Major in Finance.

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