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Today: May 22, 2024
January 17, 2024
1 min read

Israeli Startup Investments Surge with $120 Million from Prominent VC

TLDR:

  • Cardumen Capital, an Israeli-European venture capital firm, has raised $120 million for its second fund to support early-stage Israeli deep tech startups.
  • The company, founded in 2017, has invested in 32 Israeli startups specializing in AI, cybersecurity, and big data.

An Israeli-European venture capital firm, Cardumen Capital, has raised $120 million for its second fund dedicated to supporting early-stage Israeli deep tech startups. The firm, which was founded in 2017 and has offices in Tel Aviv and Madrid, has previously invested in 32 Israeli startups that focus on fields such as artificial intelligence, cybersecurity, and big data. The $120 million raised for the second fund is double the amount raised for the first fund created in 2019.

Nimrod Brandt, an investment expert and Cardumen Capital’s appointed partner in Israel, expressed confidence in the current market and sees a significant opportunity for investment. He stated, “We are actively deploying in what will probably be one of the best vintages of our generation.” Brandt believes that Israeli entrepreneurs excel in adverse situations and that challenging times present an opportunity for the development of great companies.

Gonzalo Martínez de Azagra, co-founder and general partner of Cardumen Capital, highlighted the firm’s commitment to Israeli tech and their belief in its potential for growth. He stated, “Our commitment to Israeli tech is stronger than ever. This commitment is reflected in our local team expansion.” The firm aims to provide its startups with access to worldwide markets, leveraging its team’s connections in the US and Asian markets.

The fundraising success reflects the growing interest and confidence in Israeli tech startups. Israel has established itself as a leading hub for technological innovation, particularly in sectors such as artificial intelligence, cybersecurity, and big data. The support and investment from venture capital firms like Cardumen Capital contribute to the continued growth and success of the Israeli startup ecosystem.

Overall, Cardumen Capital’s successful fundraising demonstrates the continued interest and investment in Israeli deep tech startups. The $120 million raised for the second fund will enable the firm to further support early-stage Israeli startups and contribute to the growth and development of the Israeli tech ecosystem.

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