New York based early stage venture capital firm Vine Ventures today announced the final closing of its oversubscribed $140 million second fund, with commitments from technology investors, founders, pension funds, and endowments. The new fund brings the firm’s total assets under management to $243 million. The firm, which has seven team members, also announced the opening of two offices: New York City (Flatiron) and Tel Aviv (Sarona Market).
Vine leads the earliest financing rounds of tech companies in the US, Israel and Latin America, typically investing between $1 million and $10 million. The firm offers hands-on support to founders, which has already resulted in handsome returns. Vine's first fund, which was raised in June 2020 is reporting net returns of 251% with 13 of 16 portfolio companies have raised further funding from Accel, Coatue, Felicis, Founders Fund, General Catalyst, and Tiger Global.
These investments include Komodor, an Israeli DevOps platform automating Kubernetes trouble-shooting that raised a $47 million Series B from Tiger Global, Accel and Felicis.
Vine managing partner Eric Reiner said, "Our mission is to identify founders and markets poised for massive outcomes, drive these leaders to success, and deliver top-tier returns to our investors. Vine’s team is composed of investors trained at some of the most successful firms including Insight Partners, TA Associates and Blackstone. We have adapted these firms’ best practices to bring unparalleled horsepower to early stage investing, so that the world’s best company builders can begin their journey with the right resources."
Cofounder Dan Povitsky added, "With Fund II, we continue the important work of delivering the world’s best user experience to founders. Our team’s age and track-record of refining business models sets us apart from the typical seed venture capital firm. We approach founders from a place of mutuality and seek to build a shared understanding through rapid and comprehensive work. This has enabled us to take big bets on generational companies long before other investors arrive."
Published by Globes, Israel business news - en.globes.co.il - on June 22, 2022.
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