U.S. venture capital firm Greylock Partners said on Monday it closed a $150 million fund that will invest in early-stage Israeli high-tech companies.

Greylock said in a statement the new Greylock Israel fund is its first Israel-related fund.

This is a natural progression of the Greylock Israeli strategy and a result of both a bullish view on the Israeli venture opportunity, and the changing requirements of supporting young companies here, said Moshe Mor, a Greylock partner.

Successful Israeli technology companies are increasingly focusing on the global markets, he said in the statement.

Greylock has been active in Israel's venture capital market since 2001, investing in eight Israeli companies from its U.S. funds. It said that with the new Israeli fund, it aims to partner top Israeli venture capital funds in its investments.