One of the most compelling investment landscapes on earth. One of the hardest to enter.
Value Gateway Capital Partners is an LP, fund-of-funds manager, and SPV architect — deploying institutional capital across Israel's deep private markets through LP structures, feeders, and co-investments, backed by 30 years of embedded relationships.
$1.4B
Assets Under Management
$3B
Institutional Capital Allocated
30+
Years in Israeli Capital Markets
2018
Founded
We invest as LPs, run fund-of-funds, structure SPVs and feeders — and commit our own capital alongside our partners in every vehicle we manage.
LP · Fund-of-Funds · SPV · Feeder Structures
Our Mandate
Built to deploy capital where others cannot reach.
VGCP operates as a principal investor — sourcing, structuring, and managing private market positions in Israel for international institutional partners. We are not intermediaries. We are insiders with three decades of institutional roots in the market.
01
Value — Institutional Roots
Founded by the team that built Halman-Aldubi, Israel's leading alternative investment house, acquired by Phoenix Holdings at peak $20B AUM. Our institutional DNA is unmatched in Israeli private markets.
02
Israel — The Opportunity
A global innovation powerhouse that has matured far beyond its startup origins into a sophisticated, multi-asset-class private market — consistently outperforming global peers and remaining structurally inaccessible to most foreign capital.
03
Gateway — Insider Access
We are in the rooms where deals take shape. VGCP's relationships with Israel's top fund managers, operators, and institutions are built over decades. First-tier deal access requires exactly this kind of embedded presence.
Investment Structures
We structure around your mandate. Not the other way around.
Whether you are a pension fund allocating through a dedicated feeder, a family office seeking a co-investment right, or an institution requiring a bespoke SPV — we build and manage the vehicle around your needs.
Structure 01
Fund of Funds
Diversified access to Israel's leading private market fund managers across PE, real estate debt, defense tech, and secondaries — through a single institutional vehicle managed entirely by VGCP.
Structure 02
SPV / Special Purpose Vehicle
Bespoke vehicles structured around a single deal — for investors seeking direct exposure to a specific Israeli asset without managing local legal structure, regulatory filings, and cross-border tax treatment themselves.
Structure 03
Feeder Fund
Dedicated feeder vehicles that allow multiple international LPs to invest into a single Israeli fund or co-investment alongside VGCP — with all Israeli structuring and compliance handled at the feeder level.
Structure 04
Separately Managed Account
For larger institutional mandates requiring a customised portfolio with specific asset class focus, return targets, or ESG constraints. VGCP builds and manages the SMA to your specification with full transparency.
Cultural DNA
This market moves when others freeze. Here is why.
Most funds describe Israel as a technology opportunity. That misses the deeper story — the cultural infrastructure that makes this market perform under conditions that would shut any other market down.
0115-20%
Operators in Uniform
15 to 20 percent of the tech workforce serves on active duty. Some CEOs ran their companies from laptops in war zones. A filter for operators who perform when conditions are hardest.
02
Flat Hierarchy. Weeks, Not Quarters.
19-year-olds run million-dollar military budgets before they join the private sector. Decisions that take quarters in Europe take weeks in Israel. Progress over process, every time.
03
Chutzpah as Investment Thesis
Founders pitch early and close enterprise contracts before Series B. Directness over protocol, and a refusal to wait for permission — not cultural quirks, but structural competitive advantages.
04
Yihyeh Beseder
While colleagues deployed, teams closed deals and asked clients to delay, not cancel. "It will be okay" is not optimism here. It is a practiced, disciplined response to pressure.
05160→312
Trial by Fire
Defense-tech companies grew from 160 to 312 between July 2024 and April 2025. Israel is the only place where AI, cyber, and defense systems are validated under live conditions first.
Israel didn't just absorb a year of war and a global fundraising trough simultaneously. It passed the world's most severe modern stress test — and came out accelerating.
Value Gateway Capital Partners — Investment Thesis 2026
The Market Cycle
Five years that prove the thesis.
The 2021 to 2025 cycle is a complete investment story: peak, reset, war, foundation, and rebound. Understanding this arc is the difference between seeing an opportunity and knowing when to enter it.
2021
Peak Boom
$12.2B raised. Global liquidity peak. Market at maximum optimism. International allocators deepening Israel relationships at pace.
2022
Global Reset
Rate shock. Fundraising falls across every geography. Risk appetite retreats globally. Israel's fundamentals hold.
2023
Trough + War
$1.9B raised. War begins October 7th. Capital becomes maximally selective. The market absorbs the most severe shock it has ever faced.
2024
Foundation
$11.8B dry powder retained. M&A hits an all-time record. Foundations of the rebound are laid quietly while headlines focus on conflict.
2025
Rebound
$5.1B deployed by August alone — surpassing all of 2024. $71B in tech M&A. $26B in foreign investment. GDP +3.1%.
The Access Problem
Foreign capital that arrives without a local anchor finds the second tier.
The first tier of Israel's private market requires bespoke relationships built over decades. You either have them or you don't.
We spent thirty years building them. VGCP operates as an LP and fund-of-funds manager with $1.4B AUM — and structures bespoke SPVs and feeder funds for investors who need a single-asset or single-mandate entry point. The team that founded VGCP built Halman-Aldubi into Israel's largest alternative investment house — $20B AUM at peak, acquired by Phoenix Holdings in 2021.
Why Israel Works
The structural tailwinds most analysts miss.
The Israel opportunity is not a technology story alone. It is a demographic story, a fiscal story, and a structural scarcity story — playing out simultaneously in a market with one of the highest institutional savings rates in the world.
Israel needs 55,000 to 65,000 new homes annually just to match population growth. Its pension contribution rate is among the highest in the OECD. Half its population is under 29.
2.87
Fertility rate — highest in the OECD. The only developed country genuinely growing its population.
50%
Of the population is under 29 years old.
$57.8K
GDP per capita — comparable to Germany and France.
20.8%
Pension contribution rate — one of the highest in the world.
Our Foundation
We built the institution before we built the gateway.
The team behind VGCP founded Halman-Aldubi in 2018 and built it into Israel's first and largest alternative investment house. It became TASE-listed and was acquired by Phoenix Holdings in 2021. Those relationships are why first-tier deal flow comes to us.
$20B
AUM at peak
500K
Clients served
30+
Years combined
Institutional Ecosystem
Our institutional co-investors and fund relationships include some of the world's most respected private markets allocators.
A limited partner, fund manager, and structural insider.
Who We Are
We are an LP, fund-of-funds manager, and SPV architect in Israel's private markets.
VGCP operates as a limited partner, fund-of-funds manager, and special purpose vehicle architect — deploying and co-investing institutional capital across Israel's private markets. We take positions in LP structures, feeder funds, and SPVs. We manage portfolios and bear risk alongside our partners. This is principal capital at work, not an intermediary service.
01
LP, FoF & SPV Capital
VGCP invests as a limited partner, runs fund-of-funds mandates, and structures SPVs and feeder funds around investor needs. We deploy our own capital in every vehicle alongside our co-investors — structurally aligned, not transactionally compensated.
02
Full Infrastructure
Israeli legal structuring, regulatory navigation, cross-border tax optimisation, independent due diligence, and ongoing portfolio oversight — all operated on the ground.
03
Selective by Design
We decline more deals than we close, and choose co-investment partners with equal discipline. This is a curated portfolio. That selectivity protects returns and preserves first-tier access.
04
Generational Roots
Founded by the team that built Halman-Aldubi, Israel's first and largest alternative investment house, which reached $20B AUM and was acquired by Phoenix Holdings.
05
On the Ground
Israel's private market is relationship-based. First-tier deal access requires embedded relationships built over years. We are present at the highest level of the ecosystem, not visiting it.
06
Technology Perspective
Our leadership combines decades of Israeli capital markets expertise with senior technology sector experience, including management roles at Meta's Global Business Group.
Investment Process
Disciplined sourcing. IC-approved. Full lifecycle management.
Every position follows the same four-stage process. No capital commitment is made without Investment Committee approval.
Stage 01
Proprietary Sourcing
Deal flow originates from 30+ years of embedded relationships. The first tier of this market is not accessible through outbound origination. It requires being present before the deal is a deal.
Stage 02
Independent Due Diligence
Each opportunity undergoes independent financial, legal, and operational due diligence by VGCP's in-house team and external Israeli legal and accounting advisers. IC approval required.
Stage 03
Structuring and Execution
VGCP manages Israeli legal structuring, regulatory navigation, and cross-border tax optimisation. International co-investors receive institutional-grade documentation before commitment.
Stage 04
Portfolio and Exit
Ongoing monitoring, quarterly reporting, and active stakeholder management through to realisation. VGCP operates on the ground so international LPs need no local presence.
Heritage
We built the institution before we built the gateway.
The VGCP team founded Halman-Aldubi in 2018 and built it into Israel's first and largest alternative investment house. The firm became TASE-listed and was acquired by Phoenix Holdings in 2021 — carrying three decades of institutional relationships and market knowledge.
$20B
AUM at peak
500K
Clients served
30+
Years combined
Investment Strategy
A full capital stack. No longer just a startup nation.
Focus Areas
Four pillars. One institutional framework.
VGCP allocates across Israel's mature, multi-asset-class private markets. Each focus area is supported by proprietary deal flow, institutional-grade diligence, and lifecycle management from structuring through exit.
01 / Defense Tech & Dual-Use Technology
Battle-tested. Globally demanded.
Israel is the only market where AI, cyber, and defense systems are validated under live operational conditions. Many capabilities built for security migrate into logistics and enterprise software — broadening the exit universe well beyond defense budgets.
$14.8B
Annual defense exports, record 2024
+56%
Export growth vs. prior period
02 / PE Secondaries & Deep Tech
Known companies. Proven fit. Distressed pricing.
Israeli tech secondaries trade at discounts of up to 50% from 2021 peak valuations on companies with live enterprise contracts and proven revenue. $11.8B in VC dry powder is seeking liquidity solutions at historically attractive entry points.
TASE-linked credit yields 400 to 600 basis points above US mezzanine for equivalent risk — underpinned by a housing deficit of 189,000-plus units, captive institutional demand, and a population growing at twice the OECD average.
$150B
Outstanding real estate sector debt
400-600bps
Yield advantage over US mezzanine
04 / Special Situations
Complexity as competitive advantage.
Restructurings, dislocations, and opportunistic entry points surfaced through our on-the-ground network. Israel's post-conflict cycle has created pricing dislocations that foreign capital simply cannot navigate without a local anchor at the right level.
$5.1B
PE/VC deployed through August 2025
+3.1%
GDP growth 2025
Notice: For institutional investors only. Nothing herein constitutes an offer or solicitation. All investments involve risk. Past performance is not indicative of future results.
Leadership
The people in the room.
Managing Partners
Decades of Israeli institutional capital markets. Combined.
VGCP is led by professionals who built, scaled, and exited Israel's flagship alternative investment institution. This is not a network play. It is an operating team with real capital at work.
Bar Clara Mendez McConnon
CEO & Managing Partner
Former senior management, Meta's Global Business Group. Led operations across Israel and Southern Europe ($450M+ AR). 15+ years across strategy, commercial leadership, and cross-border business development.
Rami Dror
Managing Partner
Former CEO of Halman-Aldubi Investment House (2013 to 2021). CEO, Value Advanced Investments. Former board member, The Israeli Investment House Association. 30+ years in Israeli capital markets.
Uri Aldubi
Managing Partner & COB
Built one of Israel's largest investment houses ($20B AUM). Halman-Aldubi was acquired by Phoenix Holdings. Former Chairman, Israel Oil and Gas Exploration Industries. 30+ years in Israeli capital markets.
Noam Bracha
Managing Partner
Former CEO of Halman-Aldubi's Investment and Credit Funds. Former CEO of Sales at Halman-Aldubi Investment House. 17+ years in Israeli capital markets.
We are selective about the partners we work with — as selective as the deals we take.
VGCP's programs are available exclusively to institutional investors, family offices, and sovereign capital meeting applicable eligibility requirements.
Headquarters
Tel Aviv, Israel
General Enquiries
info@vgcp.com
Investor Relations
ir@vgcp.com
Institutional Enquiry
By submitting you confirm you are a qualified institutional investor and accept our and .
Governance Framework
Institutional-grade governance across every dimension.
Why VGCP
Three things no other Israel vehicle offers simultaneously.
Most Israel-focused vehicles are placement agents or access facilitators. VGCP is different: an LP, fund-of-funds manager, and SPV architect that deploys and co-invests its own capital — built by the team that created, scaled, and successfully exited the market's dominant institution.
Differentiator 01
The Only Team That Built and Sold the Market's Dominant Institution
The VGCP founding team built Halman-Aldubi from inception to $20B AUM, took it to a TASE listing, and delivered a successful institutional exit to Phoenix Holdings in 2021. That is the market's proof of concept for building institutional-scale value in Israeli alternatives.
$20B
Built and exited by this team
Differentiator 02
First-Tier Deal Flow That Cannot Be Replicated by an Outsider
Three decades of continuous presence at the highest level of Israel's institutional capital markets means the relationships VGCP holds were built before most competing vehicles existed. Israeli GPs share their best deals with the people they trust most. That trust is not for sale.
30+
Years of embedded market relationships
Differentiator 03
Full Lifecycle — International LPs Need No Local Presence
VGCP handles origination, due diligence, legal structuring, regulatory navigation, cross-border tax, active portfolio management, and exit — entirely on the ground in Israel. No comparable Israel-focused vehicle offers this end-to-end operational coverage.
End-to-end
From origination through exit, on the ground
Regulatory Framework
Licensed in Israel. Structured for investors across three regulatory frameworks.
VGCP operates under Israeli primary regulation and maintains appropriate arrangements for working with institutional investors in the United States and European Union.
IL
Israel — Primary Jurisdiction
Israeli Securities Authority
VGCP operates under the Israeli Investment Advice, Investment Marketing and Portfolio Management Law (5755-1995) and is subject to Israeli Securities Authority oversight. All investment management activities in Israel are conducted under applicable ISA licensing.
US
United States — Chaperoning Arrangement
SEC Chaperoning Agreement
VGCP's activities with US institutional investors are conducted under a formal chaperoning arrangement with a US-registered investment adviser, in accordance with the SEC's requirements for non-US fund managers engaging with qualified US investors.
EU
European Union — NPPR Framework
AIFMD National Private Placement
VGCP markets to EU professional investors under the National Private Placement Regimes (NPPR) available under AIFMD in relevant EU member states. EU institutional investors receive all required AIFMD-equivalent disclosures and Annex IV-standard annual reporting.
Reporting Standards
What institutional co-investors receive. When. How it is prepared.
VGCP's reporting framework is designed to meet the requirements of institutional LPs accustomed to the standards set by leading global private equity managers.
Quarterly
Capital Account Statement
Individual LP capital account statements showing contributions, distributions, unrealised value, and NAV per unit. Prepared within 45 days of period end.
Quarterly
Portfolio Company Update
Operational and financial updates on each underlying portfolio position, including KPIs, material developments, management commentary, and exit timeline assessment. ILPA-aligned.
Annual
Audited Financial Statements
Full audited annual accounts prepared by an independent Big Four or equivalent audit firm. Valuations conducted in accordance with IPEV guidelines.
Annual
Governance Report
Investment Committee activity report covering deal flow reviewed, mandates approved and declined, conflict of interest register, and ESG compliance statement.
Advisory Board
An independent Advisory Board is currently being constituted.
VGCP is appointing an independent Advisory Board to provide strategic counsel, governance oversight, and conflict management. Members will be drawn from senior figures in international institutional investment and Israeli capital markets.
Transparency commitment: VGCP will publish Advisory Board member names, biographies, and terms of reference upon formal appointment — prior to first close of the current fund. Contact ir@vgcp.com for the Advisory Board formation process.
Terms & Conditions
Last updated: May 2026 Value Gateway Capital Partners Ltd.
Important: This website is directed solely at institutional investors. It does not constitute an offer, solicitation, or invitation to subscribe for or purchase any securities, fund interests, or investment products in any jurisdiction.
1. Acceptance of Terms
By accessing this website you agree to be bound by these Terms and Conditions. Value Gateway Capital Partners Ltd. ("VGCP") reserves the right to modify these Terms at any time. Continued use constitutes acceptance.
2. Nature of VGCP
VGCP is an Israeli investment management firm that operates as a principal investor, fund-of-funds manager, and direct co-investor. VGCP does not act as a placement agent, broker-dealer, or distributor of third-party investment products in any jurisdiction.
3. Eligible Users
This site is intended exclusively for institutional investors including pension funds, endowments, sovereign wealth funds, insurance companies, qualified purchasers and accredited investors under applicable securities laws, professional clients under MiFID II or equivalent, and family offices meeting applicable thresholds.
4. No Offer of Securities
Nothing on this site constitutes an offer to sell, a solicitation to buy, or a recommendation to acquire any security, fund interest, or investment product.
5. No Investment Advice
Information on this site is for general informational purposes only and does not constitute investment, legal, tax, regulatory, or accounting advice.
6. Forward-Looking Statements
Market data and projections are for illustrative purposes. Actual results may differ materially. Past performance is not indicative of future results. All investments involve the risk of loss.
7. Governing Law
These Terms shall be governed by the laws of the State of Israel. Disputes shall be subject to the exclusive jurisdiction of the courts of Tel Aviv, Israel.
8. Contact
Legal enquiries: legal@vgcp.com
Privacy Policy
Last updated: May 2026 Value Gateway Capital Partners Ltd.
VGCP is committed to protecting personal information in accordance with the Israeli Privacy Protection Law 5741-1981 and, where applicable, the EU General Data Protection Regulation (GDPR).
1. Data Controller
Value Gateway Capital Partners Ltd. is the data controller for personal data collected through this website. Contact: privacy@vgcp.com
2. Information We Collect
Identity data: name, job title, employer, professional credentials
Contact data: email address, telephone number, business address
Technical data: IP address, browser type, and page views collected via cookies
Correspondence data: any information provided when submitting an enquiry
3. How We Use Your Information
We use personal data to respond to institutional enquiries, assess eligibility for VGCP investment programs, maintain compliance records, and improve the site.
4. Data Sharing
We do not sell or commercially exploit your personal data. We may share information with service providers under appropriate data processing agreements and legal authorities where required by law.
5. Your Rights
Subject to applicable law, you may have the right to access, correct, erase, or restrict processing of your personal data. Contact: privacy@vgcp.com
