NFX has closed a $150 million fund to invest in early stage startups in Silicon Valley and Israel. The venture capital firm's first fund will invest in, "a select group of early stage tech companies across all sectors, as long as we can see the potential in them to develop network effects and thus defensibility. This includes AI, blockchain, biotech, fintech, AR/VR, IoT, enterprise, SaaS, marketplaces, robotics, and more."
The firm's three partners are Israeli Gigi Levy-Weiss, an angel investor, former 888 Holding plc (LSE:888) CEO, and Americans James Currier and Pete Flint. They said, "We concentrate on companies in Silicon Valley and Israel because we believe those geographies have the most developed ecosystems to support breakout companies."
For seed and early A startups, NFX will invest from $500,000 to $5 million, and work with them through exit.
For earlier startups, NFX will offer a structured program investing $250,000 on a rolling basis and give 6 months of structured, hands-on support.
Published by Globes [online], Israel business news - www.globes-online.com - on November 29, 2017
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