TLDR:
- 97212 Ventures announces $20M fund to support Israeli tech founders accessing the NYC ecosystem.
- Founders must move to NYC within 18 months to receive funding.
97212 Ventures, a New York-based VC firm, has closed a $20 million fund aimed at investing in Israeli pre-Seed and Seed startups. The fund provides access to a network of resources in NYC, including senior advisors and early customers, to help Israeli startups establish a presence in the city. The firm requires founders to relocate to NYC within 18 months to receive funding.
New York has become a hub for Israeli tech companies, with over 450 headquartered there and 30 Israeli unicorn companies based in the city. 97212 Ventures focuses on investing in B2B enterprise technologies, digital health, wellness, fintech, prop-tech, and logistics. The firm has already invested in 14 startups and is backed by notable investors and operators in the industry.
This new fund aims to support Israeli entrepreneurs in building global startups by providing capital, guidance, and access to the NYC tech ecosystem. It presents a unique opportunity for Israeli tech talent to access resources in NYC during a time when securing VC funding for early-stage startups in Israel is challenging.
