Israeli Venture Capital firm Hetz Ventures has closed its second flagship fund at $77 million. The company says that the fund was actually oversubscribed. With it, Hetz will manage over $130 Million in capital.
So an Israeli VC firm is still able to raise millions from investors to seed new Israeli high tech startups in the middle of the worldwide Corona Virus pandemic. What does that say about the resiliency of a startup nation?
The firm invests in various enterprise software verticals. This is known as business to business (B2b). B2B is when a company offers services to other firms and not to consumers in general.
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“We founded Hetz just under three years ago with the goal of investing in companies that are building deep, defensible technologies and have disruptive business models. In the COVID-19-impacted business world, such technologies have become paramount. We partner with companies that fill real gaps in the market,” said Judah Taub, Managing Partner, Hetz Ventures.
“Our extensive international network exponentially accelerates our portfolio companies’ success abroad. To date, all our companies have greatly leveraged this growing network in different ways, primarily in finding international design partners and first customers. We’re excited about the opportunities this new fund will allow us to invest in. Additionally, it is an indication of confidence in our approach that so many of investors from Fund I have invested once again in Fund II, and that many of the founders we have backed previously now wanted to become investors in Fund II.”
Just a few weeks ago Hetz was part of a $2.5 million investment in Israeli startup Anima. Anima develops tech which allows designers to export code to the programming team, without needing to learn how to code or switching between different unfamiliar programming languages.
Anima was founded in 2017 by CEO Avishay Cohen; CPO Michal Cohen; and CTO Or Arbel.