Israeli venture capital firm 10D (formerly Ofek Ventures), led by Yahal Zilka, Rotem Eldar and Itay Rand, announced today that it has raised over $110 million. 10D invests primarily in early stage Seed and Series A investment rounds in startups that disrupt markets by using deep technologies, creating new business models and featuring exceptional entrepreneurial teams.
Zilka and Eldar are experienced and recognized investors in the venture capital industry. "Innovation in the technology world is continuously changing and evolving," says Zilka. "Therefore we chose not to define a rigid set of areas of investment focus for the fund. We understand that we must listen to the ideas entrepreneurs bring to us and recognize trends early so we can learn about them in-depth and develop the necessary strategic relationships to support us in making informed investment decisions and more importantly - help our portfolio companies succeed."
Eldar added, "We founded the fund after realizing that we share the belief that entrepreneurs, not investors, are the most important and central factor in the success of both companies and the technology industry. Our role as investors is to support them and help them be the best version of themselves throughout the lifecycle of the company. In addition, we come from different backgrounds and have different professional experience which is complementary in many areas."
The third partner Itay Rand joined the team and brings with him experience as an investor at 83North and Founders Group, as well as vast operational and business experience, both as a consultant with the Boston Consulting Group (BCG) and as the CEO of a technology company. 10D expects to add new members to its investment team in the coming year. "At 10D we do things a little differently. In our work culture, in each of the investments we review, the entire investment team spends a lot of time with the entrepreneurs. This approach helps to build meaningful relationships with the entrepreneurs and creates an openness based on deep business acquaintance with each one of the team members. So in practice the entrepreneurs get a whole fund that works with them and for them," says Rand.
10D has already made six investments in technology ventures, and its portfolio companies include: Seebo, which develops artificial intelligence technologies for industrial plants; StuffThatWorks, which is creating a new healthcare database based on crowdsourcing; DayTwo, which provides customized nutritional guidelines based on the gut microbiome for the purpose of lowering blood sugar levels; and additional investments.
Published by Globes, Israel business news - en.globes.co.il - on November 4, 2020
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