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January 16, 2024
1 min read

From Twitter to VC: Amir Shevat pioneers early-stage investing

TLDR:

  • Former head of Twitter’s developer platform, Amir Shevat, has launched a new early-stage venture capital (VC) fund called Darkmode Ventures.
  • The fund will primarily invest in Israeli entrepreneurs and will focus on software platforms, open developer platforms, enterprise AI, and the modern data stack.
  • Darkmode Ventures has already invested in 12 companies, 10 of which include Israeli entrepreneurs.
  • The fund plans to invest in approximately 35 ventures, allocating between $200,000 and $100,000 in each venture as part of the company’s first fundraising round.

Amir Shevat, former head of Twitter’s developer platform, has established a new early-stage venture capital (VC) fund called Darkmode Ventures. The fund will primarily invest in Israeli entrepreneurs and will focus on software platforms, open developer platforms, enterprise AI, and the modern data stack. Shevat has already invested in 12 companies through Darkmode Ventures, 10 of which include Israeli entrepreneurs. The fund plans to invest in approximately 35 ventures, allocating between $200,000 and $100,000 in each venture as part of the company’s first fundraising round.

One of the main reasons Shevat decided to establish a small fund is because he believes that small funds in Silicon Valley provide better returns for investors compared to larger funds. He explained, “If you raised $5 million you have to return $15 million, but if you raise $500 million you have to return $1.5 billion.”

Darkmode Ventures has already made investments in several companies, including Merge, Drata, Tabnine, and Bluesky. Shevat expressed his belief in investing in deeptech and AI products for developers, and mentioned the success of Bluesky, which is building an open protocol for social apps.

Shevat also commented on the recent conflict between Israel and Gaza, stating that the war inspired Darkmode Ventures to invest in Israeli entrepreneurs. Many of these entrepreneurs establish their parent companies in the United States due to war considerations but still pay taxes in Israel. Shevat plans to continue investing in deeptech and AI products for developers, leveraging the strengths of Israeli entrepreneurs in these areas.

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