Israeli venture capital firm StageOne Ventures today announced that it has completed raising $235 million towards its fourth fund. The new fund will operate based on a dual model: a primary fund of $150 million to focus on seed investments for early-stage startups, and in parallel, an additional $85 million will be used for follow-on investments in the new fund's leading portfolio companies. This brings StageOne's assets under management to $500 million.
This new fund will invest in the earliest-stage Israeli companies with a technological edge, and which are developing groundbreaking products for the enterprise market. Most of the investors in the new fund are repeat investors from previous StageOne funds, including institutional and private investors from the US, Israel, Europe, and Japan.
In the past 20 years, StageOne has invested in over 50 companies, including some of Israel's most prominent tech companies. Some of StageOne's recent exits include Epsagon, acquired by Cisco (Nasdaq: CSCO), Avanan, acquired by CheckPoint (Nasdaq: CHKP), Otonomo, which was listed on Nasdaq (Nasdaq: OTMO), and Apolicy, acquired by Sysdig. StageOne was the first investor in all four companies and was a significant shareholder at the time of exit.
StageOne is led by founder and managing partner Yuval Cohen, managing partner Tal Slobodkin, partner and CFO Tal Jacobi (Partner and CFO), and Nate Meir, who has been promoted to partner.
Cohen said, "Given the massive Israeli technology companies' successes we saw in the past years, we believe that Israel will produce more global, category-leading technology companies over the next years, and we are preparing accordingly. The new fund will allow us to continue leading early-stage investments and provide entrepreneurs with their initial funding as well as any follow-on investment rounds necessary to build leading companies."
Slobodkin added, "The launch of our latest fund will help us build on the great momentum we experienced in past years and to continue investing in exceptional entrepreneurs. The expansion of StageOne's investment team will allow us to provide better support to our existing portfolio companies and strengthen our ability to lead new investments."