
2025
Year in review
Reaching new heights in private equity in Israel
A Year of
Building Value
In 2025, assumptions were tested, discipline was rewarded, and the importance of long-term conviction was reaffirmed.
Against a backdrop of geopolitical uncertainty, volatile markets, and rapidly shifting technological and economic landscapes, we remained focused on our core values and our mission: identifying resilient businesses and creating sustainable growth.
This year in review reflects some of the milestones achieved by our funds and portfolio companies, and the foundations laid for future opportunity. As we look back on 2025, we do so with appreciation for the trust of our investors, the dedication of our management teams and a renewed commitment to building long-term value in the years ahead.
6
Funds to date
$2.7B
Amount raised
21
Years since inception
Our fund at a glance
>120
Investments and platforms
Active portfolio companies
A year of growth
CEO reflections
"There was not a single day in 2025 when our manufacturing sites and logistics operations were interrupted. Despite significant local challenges, we maintained full supply and distribution of our medicines with no shortages.
I am also proud of our strong new product pipeline, alongside significant growth in our branded portfolio, including the launch of Taftafim+ and the full rebranding of our VMS portfolio, HADAS."

Iftach Seri
CEO of CTS
"In 2025, Cellcom doubled its share price and increased its market value from roughly NIS 2B to nearly NIS 6B, while continuing to deliver consistent quarter-over-quarter improvements in net profit - achievements that enabled the company to resume dividend distributions for the first time since 2013, with a NIS 200M payout. The year also marked a substantial brand transformation that reinforced the company's Israeli identity and strengthened its position as the leading operator in the Israeli communications market."

Eli Adadi
CEO of Cellcom
"2025 has been a standout year as the Stratasys team continues to drive a shift in additive manufacturing from technology for its own sake to practical solutions that deliver real value for manufacturers. AM is becoming a critical component of the manufacturing ecosystem across aerospace and defense, automotive and healthcare, reflected in a 24 percent growth in use cases across key industries this year."

Yoav Zeif
CEO of Stratasys
"Building on years of strong momentum in Israel, Oncotest, a division of Rhenium Group, continued in 2025 to drive leadership in precision medicine and work closely with the healthcare system. With the launch of Galleri, the world’s first multi-cancer early detection blood test, we have expanded access to life-saving innovations and advanced our mission of personalized care for all.”

Lior Soussan-Gutman, PhD
CEO of Oncotest by Rhenium Group
"In 2025, I’m most proud of building and strengthening our management team, aligning the right people around a shared purpose, and establishing a leadership culture of trust, accountability, and collaboration. This has strengthened our connection with customers and positioned the company for long-term sustainable growth."

Tali Chen
CEO of Solcon
“Since launching EasySave in 2025, I’m proud to report that over 100,000 unbanked individuals have begun saving for tuition and other life-changing goals. We have also increased the share of arm’s-length capital in our credit business, showing that impactful businesses can be financially viable.”

Alon Eitan
CEO of Fido
“Cello strengthened its position in the B2B segment in 2025 through dedicated fleet products and a strategic acquisition. This momentum reinforces our vision of creating a single, seamless platform that connects every aspect of parking and mobility.”

Guy Selok
CEO of Cello
“At MotoRad, I’m very proud of our team’s response to the US tariffs, which had the potential to significantly impact both our customers and our P&L. Our sales, supply chain, and operations teams worked proactively to maintain our economics in a way customers appreciated. In 2025, we also transformed inventory management with advanced analytics, sharply reducing planning time and resources. The improved insights are already driving meaningful inventory reductions.”

Steve Skinner
Executive Chairman of MotoRad
2025
Exits & partial realizations
In 2025, we continued to actively realize value across the portfolio through exits and partial realizations, while completing 10+ add-on investments to accelerate growth. We invest in businesses with strong market positions and clear growth trajectories, applying a hands-on, fundamentals-driven approach to drive transformation and long-term value creation.
Sold to
Accord Plasma B.V. (part of Intas Group)
Sold to
TeamSystem
Sold to
EW Group
Sold to
XTEND
IPO (TASE: SUGT)
Total portfolio employees
~15,000
across multiple industries
9.7%
Health
10.5%
Software / Cloud
8.6%
Food-Tech /
Ag-Tech
12.8%
Digital Print
5.1%
Industrial
24.5%
Digital Services
28.9%
Communications
/ Electronics
We saved 22M NIS through group purchasing
Driving cost efficiency at scale
We leverage our collective purchasing power to secure preferential commercial terms across key operational categories. By aggregating demand, we enable our companies to access best-in-market pricing and conditions on everything from office real estate and business travel to vehicle leasing and essential office services.
AI Transformation
Actively engaged in integrating AI solutions
Deployed AI solutions in their offering or operations

Geographical footprint
27+
portfolio sites worldwide
Executive forum events
Our executive forums play a central role in bringing Fortissimo’s senior portfolio executives together. These events create a shared space for leaders to stay updated on recent investments and realizations, gain external perspective, and engage with the themes shaping their businesses, from strategy and value creation to macroeconomic trends, AI in enterprise, and operational transformation.

2
Executive forum events

500+
Senior portfolio executives

7
Dynamic break-out sessions

6
ESG Forum events
2.3M+
NIS
Total charitable contributions across the portfolio
95%
Companies expanded ESG initiatives

4,500+
Total hours of volunteering across the portfolio in 2025
Building on the momentum of 2025
Moving forward
with conviction
As we move into 2026, we do so with confidence in the foundations built over the past year and the progress achieved across our fund and portfolio companies. We remain optimistic about the opportunities ahead and are well positioned to build on our successes and continue delivering sustainable growth. We enter the year ahead with clarity of purpose and confidence in a brighter future.