Israel venture capital fund 10D, is announcing $245 million raised in two funds – its second early-stage fund and first opportunity fund. The capital was raised from 10D’s existing investors as well as several prominent new institutional investors. Fundraising was headed by 10D’s leadership team – Yahal Zilka, Rotem Eldar and Itay Rand – experienced investors who have backed dozens of companies from the early stage including Waze, Drivenets, WalkMe, Moovit, Appsflyer, Valens, Argus, Aidoc and more.
The oversubscribed $185 million early-stage fund will invest in seed and Series A startups, focusing on deep technologies across a wide range of sectors to build disruptive and category leading companies. The new fund has already launched operations with four investments, all of which are still in stealth mode. Notable investments from 10D’s first early-stage fund include Exodigo, Juno Journey, OneStep, Obligo and Seebo which was acquired earlier this year by Augury.
The $60 million opportunity fund will invest in the most promising companies in the 10D early-stage portfolio as well as opportunities that the 10D partners have backed in their previous activity. The opportunity fund recently announced its first investment in Weka, the global data platform provider for next-generation workloads, as part of its latest round.
10D general partner Itay Rand said, “For early-stage investors in deep technologies, we believe that this is the best time to invest and build disruptive, category-leading companies. The recently raised fund will enable us to back new ventures that are tackling meaningful global challenges.”
10D founder and managing partner Yahal Zilka added, “Despite the current pressure of interest rates on the public markets, we believe that digital transformation is progressing at a rapid pace. The Israel investment opportunity is only growing stronger while aiming for higher outcomes.”
10D founder and managing partner Rotem Eldar said, “In parallel to raising the new investment vehicles, we have been broadening the infrastructure and team. This expansion will enable us to build a solid foundation which can add and provide significant value to the portfolio companies and further scale the investment reach.”
Published by Globes, Israel business news – en.globes.co.il – on December 20, 2022.
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