Israeli blockchain accelerator Collider Labs raises $1m

Adam Benayoun, Ofer Rotem, Avishay Ovadia / Photo: Eyal Izhar, Globes

The money was raised from a group of investors headed by Collider Ventures founders Ofer Rotem, Adam Benayoun, and Avishay Ovadia.

In the past two years the blockchain and cryptocurrency industry has shrunk considerably, and many companies have closed, but in the past couple of months there has been something of a revival in the formation of startups and in new investment in this field. This trend finds expression in Israel in the formation of a new accelerator, Collider Labs, launched this week by the founders of venture capital firm Collider Ventures.

An initial $1 million has been invested in setting up Collider Labs. The money was raised from dozens of investors, chief among them the three founding partners Ofer Rotem, Adam Benayoun, and Avishay Ovadia.

Collider says that the $1 million raised for the new accelerator is earmarked for investment in early-stage companies in pre-seed investment in amounts between $25,000 and $75,000 for each company. A first startup has already joined the accelerator - a company set up by Israeli entrepreneurs and operating from London. Collider has not so far released further details.

Ovadia, who is founding venture partner at Collider, is manager of the new accelerator. "Our model is different from that of most accelerators," he told "Globes". Generally, when an entrepreneur is accepted to an accelerator, he finds that he is expected to work according to a rigid work plan and a timetable dictated from above. With us, it's quite different: we tailor a personal program for each entrepreneur, in accordance with the stage he is at, and don’t hesitate to change the program as necessary. The aim is to become genuine partners of the most talented entrepreneurs in the market, in the hope of continuing to accompany them as the 'home investor' even after they spread their wings and become sell-established blockchain companies."

Published by Globes, Israel business news - en.globes.co.il - on October 22, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Adam Benayoun, Ofer Rotem, Avishay Ovadia / Photo: Eyal Izhar, Globes
Adam Benayoun, Ofer Rotem, Avishay Ovadia / Photo: Eyal Izhar, Globes
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