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Tel Aviv-based early-stage enterprise capital agency Grove Ventures right now introduced the closing of the $185 million ‘Grove III’ fund. Grove stated that the brand new fund will accomplice with early stage and distinctive Israeli entrepreneurs.
Grove III will concentrate on tech and science improvements in areas similar to edge computing, cloud infrastructure, knowledge infrastructure and administration, builders’ instruments and software program, DevOps, AI and automation. The fund’s broad workforce, which incorporates the entrepreneurs-turned-investors behind S&P 500 firm SolarEdge and M-Methods, makes use of its assets to present its portfolio firms most worth by entry to additional funding, and assist for HR and administration recruitment, advertising and marketing, gross sales, connection to its community of enterprises, and extra.
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Dov Moran’s Grove Ventures raises $120m second fund
After the institution of the brand new fund, Grove Ventures may have almost $500 million underneath administration. Thus far, Grove has invested in over 24 firms together with Wiliot, RapidAPI, ActiveFence, Lumigo, Metrolink, Navina, env0 and CommonGround. Grove III will even spend money on early-stage (Pre-Seed, Seed and Collection A) Israeli startups.
The fund has additionally introduced the promotion of Renana Ashkenazi from Principal to Basic Associate. She joins Managing Associate Dov Moran inventor of the USB flash drive who offered M-Methods to SanDisk for greater than 1.6 billion {dollars}; Lotan Levkowitz, and Lior Handelsman, one of many founders of SolarEdge, the one Israeli firm listed on the S&P 500 index.
Grove Ventures’ companions stated in a joint assertion, “We thank our LPs on their belief and for the chance to assist the subsequent era of firms that may propel the technological leaps ahead and digitalization processes to energy the way forward for the world. We’re in a difficult and engaging time frame wherein the world is turning into extra digital than ever. We work to be a house for Israeli founders who construct important technological innovation and infrastructure and create game-changing firms.”
Revealed by Globes, Israel enterprise information – en.globes.co.il – on January 6, 2022.
© Copyright of Globes Writer Itonut (1983) Ltd., 2022.
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