Israel-based venture capital TLV Partners has announced the closing of its $250 million fifth fund. This brings the venture capital firm's total assets under management to $1 billion. The new Israeli fund will invest in early-stage startups in such sectors as developer tools, AI, cybersecurity, fintech, biotech, and more.
The new fund will make about 25 Seed and Series A investments, of between $4-8 million, with the capability to support later rounds, it could invest as much as $20 million in each startup.
The firm has invested in 60 startups and its portfolio includes some of Israel's biggest growth companies, including Aqua Security, Next Insurance, Aidoc, Run:ai, Silverfort, Quantum Machines, Unit, Immunai, Deepcure, Buildots, Zencity, Firebolt, Mesh, Laminar, Oligo Security, and Port.
Since its founding, TLV Partners has enjoyed ten successful exits, including Granulate (acquired by Intel), Oribi (LinkedIn), Neosec (Akamai), Skyline (JLL), Stoke (Fiverr), and Guesty (secondary transaction).
TLV Partners is led by Eitan Bek, Rona Segev, Shahar Tzafrir, and Adi Yarel Toledano, together with Yonatan Mandelbaum, Brian Sack, and Bar Dor.
TLV Partners is one of Israel's most-active venture capital funds and is supported by leading American institutions, such as University Endowments, Fund of Funds and other strong US investment entities that have backed the firm since its initial fund eight years ago.
TLV Partners partner Rona Segev told "Globes," "It is a very challenging time to find investors and bring them to Israel. There have been many conversations in which they expressed concern about what was happening and what would happen, and what helped us was the global nature of our fund. If you look at our portfolio of companies, about 40% of the entrepreneurs are Israelis who do not live in Israel, and I think the investors realized that TLV is more closely related to the Israeli tech community, than physically to the state."
Segev added, "Since the beginning of the year we have not invested in any new Israeli company - all the companies in our early investments have decided to set up in the US, even if by Israelis, and the more disturbing thing is that we see an increase of thousands of percent in the number of people who work in our companies who are looking for relocation - or who are In the midst of a process of moving abroad. The rate of emigration exceeds anything we imagined, and it's strange to me that the government doesn't see it - but treats high-tech by ignoring it, or with contempt and spite. I really hope that this will change a lot before it's too late."
TLV Partners managing partner Shahar Tzafrir said, "As we navigate turbulent times in Israel, our commitment to our founders remains unshakeable. We view these challenges as opportunities to innovate, build, and strive. Our announcement of Fund V, part of our $1 billion funds, underscores our unwavering optimism in our founders, our nation, and the promise of a resilient democracy. We are here, we are ready, and we stand strong - together."
TLV Partners general partner and CFO Adi Yarel Toledano added, "The success of our portfolio companies extends far beyond financial investment. It is built upon a genuine partnership rooted in trust, transparency, and shared vision. We consider ourselves privileged to have backed 60 exceptional companies and 130 outstanding founders whose success remains our foremost priority. We are honored to work alongside them in realizing their bold ambitions. Additionally, we express our sincere gratitude to our invaluable Limited Partners' support in our vision and mission, and we are truly grateful for their partnership."
Published by Globes, Israel business news - en.globes.co.il - on July 17, 2023.
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