ראשי \ Analysis List \ Ruby Capital Investment Fund Sapphire II
Ruby Capital Investment Fund Sapphire II (“Sapphire II”) is a limited partnership established in July 2024 by Ruby Capital Equity. Ruby Capital is an Israeli group of companies specializing in real estate financing and investments. The group was founded in 2015 by Mr. Ilan Rubinstein, Mr. Gershon Shapira, and Mr. Andrew Mastel, and is currently managed by partners Mr. Yaakov Nitzan and Mr. Omer Halpern. The group specializes in providing comprehensive financing solutions across all stages of real estate projects, including construction financing and pre-permit stage funding.
The fund invests in financing the equity layer of mid-market real estate developers in Israel, with the goal of supporting residential and mixed-use development projects. Investments are structured either as preferred equity or profit-participating debt. The preferred equity model is typically used in development projects, with or without acquisition of the underlying land, while the profit-participating debt model is primarily applied in combination deals or urban renewal projects, where the underlying property exists but has not yet been redeveloped.