New York-based venture capital firm Vine Ventures announced the final closing of its second fund, amassing $140 million, around half of which will be invested in several Israeli early-stage technology investments.
Vine Ventures, founded by two Jewish men, has invested in several Israeli firms before, such as Israeli DevOps firm Komodor. Now, with the assets under management valued at $243 million, the company will invest further in the Jewish state and will open a new office in Tel Aviv's Sarona Market.
“Our mission is to identify founders and markets poised for massive outcomes, drive these leaders to success, and deliver top-tier returns to our investors. Vine’s team is composed of investors trained at some of the most successful firms including Insight Partners, TA Associates and Blackstone,” Vine managing partner Eric Reiner said in a statement.
“We have adapted these firms’ best practices to bring unparalleled horsepower to early stage investing, so that the world’s best company builders can begin their journey with the right resources.”
“We have adapted these firms’ best practices to bring unparalleled horsepower to early stage investing, so that the world’s best company builders can begin their journey with the right resources.”
Eric Reiner
“With Fund II, we continue the important work of delivering the world’s best user experience to founders,” said Vine co-founder Dan Povitsky.
“Our team’s age and track-record of refining business models sets us apart from the typical seed venture capital firm. We approach founders from a place of mutuality and seek to build a shared understanding through rapid and comprehensive work. This has enabled us to take big bets on generational companies long before other investors arrive.”
Previous work
Vine Ventures has also worked to provide hundreds of mattresses, pillows, blankets and towels, as well as food and funding for transportation for the thousands of Ukrainian refugees entering Moldova in collaboration with the Moldovan Jewish community.
Povitsky is the son of immigrants who fled to Israel from the USSR and has expressed his sympathies with the plight of Ukrainian refugees.
"I have a deep gratitude for countries, communities and organizations welcoming those in need with open hearts and minds," he has said.
Previously, Reiner confirmed that Vine specifically targets Israeli companies for investment. Before founding Vine, he had worked at a number of other venture capital firmssuch as Pitango, Insight and Sinai Ventures.
Zvika Klein and Zachy Hennessy contributed to this report.