21Ventures managing partner David Anthony: There is a clear and vast unmet need for seed and early-stage investment in promising Israeli start-up companies.
US investment company 21 Ventures has allocated $20 million for investments in Israeli technology start-ups in 2008.
21Ventures was founded in 2004, and has since invested $36 million in seed and early-stage investments, mostly in security, clean energy and mobile software companies. The company has already invested $16 million in Israeli interests. 60% of the new funds will be allocated to existing investments and 40% to new opportunities. Investments will range from $250,000 to $2 million per company.
21Ventures managing partner David Anthony said, “There is a clear and vast unmet need for seed and early-stage investment in promising Israeli start-up companies. Our mandate is to fill the gap between monies awarded by the Chief Scientist of Israel and the financing disseminated by venture capital and equity capital firms after a company has graduated to late stage status. We believe that the potential of this market is so strong that going forward, we will invest only in young Israeli start ups.”
Published by Globes [online], Israel business news - www.globes.co.il - on August 16, 2007
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