NY-based boutique fund backed by established
LP base of experienced investors and successful founders
NEW
YORK, May 10, 2024 /PRNewswire/ -- 97212
Ventures, a NY next-generation VC and day-one partner for Israeli
founders, today announced the closing of a 20-million dollar fund aimed at investing in new
Israeli pre-seed and seed startups, providing them instant access
to a pool of rich New York
resources to grow their businesses including key senior advisors,
early customers and channel partners, paving the way to US
product-market fit and early growth.
New York has established itself
as a hub for Israeli tech, with 30 Israeli unicorns and 450
startups headquartered in the city. 97212 founder Eyal Bino has played a key role in the creation
of this hub, having previously co-founded ICONYC labs, a
go-to-market accelerator focused on investing in pre-seed Israeli
startups that helped reduce time to access the US market. ICONYC
success stories include Connecteam, Dataloop, Leal Health, Duve,
SecuriThings, Copyleaks and many more.
"Israel has unique tech talent
and this moment, when securing venture capital funding is
particularly tough for early stage startups in Israel, offers unique opportunities for us to
access top innovations that have the potential to become unicorns,"
said Eyal Bino, Founding Partner.
"This new fund serves as a complete plug-in for Israeli
entrepreneurs looking to build global startups by giving them
capital, guidance and instant access to the entire NYC tech
ecosystem including senior advisors, design partners, potential
partners, and customer introductions."
97212 Ventures is a first-time fund dedicated to providing
capital for Israeli startups to establish a presence in
New York City and requires
founders to move there within 18 months. The firm invests in B2B
enterprise technologies, digital health and wellness, plus sectors
where digital transformation tech is critical such as fintech, prop
tech and logistics. The fund has already invested in 14 startups
including:
- Pioneering hybrid drug company Remepy, co-founded by
Michal Tsur, (former President of
Kaltura) and Or Shoval. Former Prime Minister Naftali Bennett, who made his name as a hugely
successful tech founder, is a key advisor to the
company.
- Beti, an advanced, cloud-based platform designed to
allow construction companies to efficiently supervise and
coordinate workflows and worker safety on site
- Ritual, providing digital tools to guide users through
their personalized relationship journeys with on-demand
therapists.
97212 Ventures is backed by a collection of successful
investors, founders and operators including Modi
Rosen, Co-founder / Managing Partner, Magma Ventures and first
investor in Waze, Appsflyer, Guesty amongst other Israeli
unicorns; Owen Davis,
Managing Partner, Contour Ventures and first investor in successful
NYC startups Datadog and SeatGeek; Paul
Martino, Managing Partner, Bullpen Capital, and first
investor in FanDuel, and Ran Reske, Founder and CEO,
Resident which recently sold for $1B,
among others.
About
Based in New-York, 97212
Ventures is a seed fund exclusively focused on investing in top
early-stage Israeli startups committed to building category
defining companies in NYC. Backed by an established LP base of
experienced investors and successful founders, the fund is fast
becoming the "go-to VC" for Israeli founders looking to expand
their companies to NYC and cut time to the US market.
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SOURCE 97212 Ventures