Israeli venture capital firm Singulariteam announced Thursday the launch of a $30 million late-stage investment fund, following the success of two funds focusing on early-stage startups.
Founder and managing partner Moshe Hogeg announced the new fund and said it will be used for large scale investment in up to three tech companies that have an annual income of at least $15 million.
“After two successful funds with a total sum of more than $120 million, we are now interested in testing our new investment theory also in more mature, late-stage startup companies”, said Hogeg. “We are now focusing on a new experimental small-scaled fund. If this fund will succeed, it will definitely pave the way for a larger fund that will be focusing in late-stage startups”.
Singulariteam plans to use the new fund to provide financial support, guidance, and tools for late=stage startups that have proven their viability. If the firm’s third fund succeeds, it will consider raising a larger, fourth fund for late-stage startups.
Founded in 2012, the Tel Aviv-based firm has 4 offices around the world and has invested in notable startups like StoreDot, EffectiveSpace, and InfinityAR.
Published by Globes [online], Israel business news - www.globes-online.com - on October 22, 2015
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