TLDR:
New Era Capital Partners is raising a $150 million fund, with an $80 million initial close, despite challenges due to the ongoing war. The fund plans to invest in 20-25 early-stage companies, focusing on enterprise software and AI applications. The team includes experienced professionals from diverse backgrounds, and the fund aims to support global companies in multi-arena operations.
The Israeli venture capital fund New Era Capital Partners is raising its third fund, targeting $150 million. The fund completed a first close of $80 million, allowing it to start investing in new companies. Notably, the fundraising process took place during the ongoing war, presenting challenges in securing commitments from institutional investors.
Founded seven years ago, New Era is managed from Tel Aviv, with additional offices in Boston and London. The fund has invested in over 30 companies and plans to invest in 20-25 more using its established approach. The partners bring diverse backgrounds to the fund, with a focus on enterprise software and AI applications.
Despite difficulties in raising funds during wartime, New Era managed to secure support from foreign investors who had previously invested with them. The fund focuses on enterprise software investments, with minimal investment in hardware. They see great opportunities in the current market conditions and are particularly interested in fintech investments and AI applications.
The fund’s new partner, Ziv Conen, brings significant experience from the Intelligence Corps and McKinsey, enhancing the fund’s ability to identify breakthrough companies, especially in the cyber and security sectors. The fund aims to help entrepreneurs build global companies and emphasizes the importance of strong connections in the tech industry.
