Vintage Investment Partners: The $4.4B Israeli Venture Platform

Herzliya · Multi-strategy venture platform · $4.4B AUM · Fund-of-funds, secondaries, growth direct · Founded 2002 by Alan Feld · Feld retired December 31, 2025; leadership transitioned to next generation of managing partners

Vintage Investment Partners is the Herzliya-headquartered multi-strategy Israeli venture platform that manages approximately $4.4 billion across more than thirteen funds and a managed account. Founded in 2002 by Alan Feld, Vintage operates three product lines from a single house: a fund-of-funds program that acts as an Israeli LP into global venture managers, a secondaries program that buys existing LP and direct positions in venture-backed companies, and a growth direct-investment program. The combined AUM makes Vintage one of the largest institutional Israeli venture platforms by assets — a distinct position from the pure early-stage funds that dominate the Israeli venture headline count.

Feld retired as managing partner on December 31, 2025 — 23 years after founding the firm — and transitioned to the title of Founder & Emeritus Managing Partner. Leadership passed to the next generation of managing partners in a succession Feld had planned for at least three years, making Vintage one of the few Israeli venture firms to execute a clean founder-to-second-generation handoff.

What Vintage Does

Vintage's structural difference from the rest of the Israeli venture stack is the multi-strategy model. Aleph, Pitango, Grove, Team8, and the other named Israeli funds operate a single primary strategy: direct venture investment at defined stages. Vintage operates three:

Fund-of-funds. Vintage is a limited partner in a curated portfolio of global venture managers — US early-stage, US growth, Israeli, European, and Canadian. The program gives Israeli institutional capital (pension funds, insurance companies, endowments, family offices) diversified access to global venture without direct-fund selection risk. In October 2021, Vintage closed its sixth fund-of-funds at $500 million. The fund-of-funds position also makes Vintage one of the most-informed buyers of secondary positions, because its GP relationships span the global venture ecosystem.

Secondaries. Vintage buys existing LP interests in venture funds and direct stakes in venture-backed companies from LPs, founders, and employees seeking liquidity. In October 2021, Vintage closed its fifth secondary fund at $312 million. In a market where late-stage private companies stay private longer, secondary programs like Vintage's have become the primary liquidity channel for pre-IPO stakeholders.

Growth. Vintage's growth-stage direct-investment vehicle deploys into later-stage private companies — Series C and beyond — often in Israeli or Israeli-founder companies where the fund's LP relationships and secondary intelligence give it proprietary sourcing.

Alan Feld: The Founder's Arc

Alan Feld is Canadian-Israeli. Before founding Vintage, he was a corporate lawyer at Goodman's in Toronto — one of Canada's leading firms. He moved to Israel in 1994 and entered the venture industry: managing director of Evergreen Capital Markets / Robertson Stephens Israel, then general partner at Vertex Ventures, then general partner at Israel Seed Partners.

His founding insight in 2002 was that the Israeli venture market lacked institutional LP infrastructure. Israeli pension and insurance capital was structurally under-allocated to venture as an asset class, and no one was operating a professional gatekeeper program channelling that capital into the global venture ecosystem. Vintage was built to fill that seat.

Twenty-three years later, the seat had grown from a concept to $4.4 billion in AUM. Feld retired on December 31, 2025, at age 65. In his farewell post he said he would pursue an MA/PhD in the medieval history of Judaism, Christianity, and Islam. He is also the founding chairman of Power in Diversity Israel, an initiative to bring more women and people from under-represented communities into the Israeli venture and startup workforce.

Education: BA in Commerce and Finance, University of Toronto; LLB, Osgoode Hall Law School; MBA, York University.

The Portfolio Record

Vintage tracks more than 500 venture funds and more than 8,500 private companies. The underlying fund-of-funds portfolio holds positions in leading US early-stage and growth managers as well as select Israeli, European, and Canadian funds. On the direct and secondary side, notable exits and positions include Cast AI (reached unicorn status in 2026), Cybereason (buyout November 2025), TIS (buyout April 2024), and Klarna (exit September 2025).

Vintage's annual "State of the Venture Market" report has become one of the most-cited Israeli venture-market overviews in the LP community — tracking deal volumes, secondary pricing, fundraising conditions, and sector bifurcation (AI vs. non-AI) across the Israeli ecosystem.

Vintage in the Israeli Venture Stack

Where Aleph, Pitango, Grove, and Team8 compete for direct early-stage Israeli founders, Vintage competes for allocation from Israeli institutional LPs — a different customer, a different product, and a different check size. The secondary program in particular has taken on outsized importance since 2022, as extended time-to-IPO across the global venture asset class has forced early LPs and employees into secondary markets to realize returns. Vintage is one of the small number of Israeli-anchored buyers with the check size and manager relationships to run that program at scale.

The founder-to-second-generation succession — completed cleanly, with the founder stepping down at 65 into an emeritus role and the firm continuing to raise and deploy — is itself a data point. Most Israeli venture firms have not yet faced the succession question. Vintage has answered it.

Frequently Asked Questions

What is Vintage Investment Partners?
Vintage is an Israeli multi-strategy venture platform headquartered in Herzliya, managing approximately $4.4 billion across fund-of-funds, secondaries, and growth direct-investment strategies.

Who founded Vintage?
Alan Feld, a Canadian-Israeli venture investor, founded Vintage in 2002. He retired as managing partner on December 31, 2025 and holds the title Founder & Emeritus Managing Partner.

How much does Vintage manage?
Approximately $4.4 billion across more than thirteen funds and a managed account, as of late 2025.

What are Vintage's three strategies?
Fund-of-funds (LP into global venture managers), secondaries (buying existing LP interests and direct stakes in venture-backed companies), and growth direct investment (Series C+ in Israeli-origin companies).

What was Vintage's most recent major fundraise?
In October 2021, Vintage closed $812 million across two vehicles: a $500 million sixth fund-of-funds and a $312 million fifth secondary fund, bringing AUM to $3 billion at that time. The firm has continued to grow to $4.4 billion.

Who runs Vintage now that Alan Feld retired?
Feld transitioned leadership to the next generation of managing partners over a multi-year succession plan. The firm operates as an equal general partnership.

What is the annual State of the Venture Market report?
Vintage publishes a widely cited annual survey of the Israeli venture ecosystem covering deal volumes, fundraising, secondary pricing, and sector trends. The 2025 edition tracked record-high Israeli tech M&A activity exceeding $10.5 billion.

Related Olam Coverage

• Israeli VC pillar — Pitango, Aleph, Vintage, Glilot, NFX, Team8
• Pitango — Israel's Oldest Institutional VC
• JVP — Erel Margalit
• NFX Ventures
• Noam Lanir

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The Olam Editorial Team

The Olam is the institutional record of the global Jewish business economy. Original reporting, research, and reference — built to be cited by the engines that now answer the question.