Venture Capital: 10D, An Israeli Venture Fund, Raises $110M
The fund invests in early-stage, disruptive startups.
10D, the Israeli venture capital firm previously known as Ofek Ventures, led by Itay Rand, Rotem Eldar, and Yahal Zilka (pictured above L-R), announced Wednesday its raise of over $ 110 million. The fund intends to invest the money in start-ups that are a disruptive force through the use of deep technologies, new business models, or exceptional entrepreneurial capabilities. (GLOBES)
Investment size will range from $ 1 million-$ 5 million initially. Thereafter as follow-on investments of up to $ 10 million, according to Eldar, who was speaking to Crunch Base.
Partners have deep VC experience
Yahal Zilka (Managing Partner, 10D) has over 20 years of experience in the VC industry. During the period he has served as an investor, consultant, and director in companies such as Waze, Argus, and Onavo.
Rotem Eldar (Managing Partner) was a partner at Gemini Israel Ventures.
Itay Rand (Partner) is an investor at 83North and Founders Group. He worked as a consultant with the Boston Consulting Group and as the CEO of a technology company.
“Innovation in the technology world is continuously changing and evolving,” says Zilka. “Therefore we chose not to define a rigid set of areas of investment focus for the fund. We understand that we must listen to the ideas entrepreneurs bring to us and recognize trends early so we can learn about them in-depth and develop the necessary strategic relationships to support us in making informed investment decisions and more importantly – help our portfolio companies succeed.”
Eldar said that the 10D team shared the belief that entrepreneurs, not investors, were the most important factor in the success of companies.
“In our work culture, in each of the investments we review, the entire investment team spends a lot of time with the entrepreneurs,” said Rand. “So in practice, the entrepreneurs get a whole fund that works with them and for them.”
According to Zilka, one of the key challenges facing the fund is to identify what could be the next big transformations during the coming three to five years.
The fund’s favorite beat is sectors such as digital health, insurance and fintech, computer vision, and manufacturing-related artificial intelligence.
The fund’s name, 10D, symbolizes the dimensions of reality – the four revealed dimensions of space and time, and six additional concealed dimensions, representing the challenges and opportunities faced while building a successful venture. The 10th Dimension, 10D, is where everything possible and imaginable exists.
The fund has already invested in six companies. These include Seebo, StuffThatWorks, and DayTwo.
Related Story: VCs Close $715M In Funds For B2Bs In Europe/Japan/US
Image credit: 10d.vc
Latest Alternative Investment News
Accelerate Financial Technologies launched its OneChoice Alternative Model Portfolio in September. Aimed at hard-pressed advisors and portfolio managers, the strategy offered a quick and easy way to put together a…
SBI Group (TYO: 8473) is launching a crypto lending service through SBI VC Trade, its crypto-focused exchange subsidiary. SBI said it will initially allow customers to tender only bitcoin (BTC),…
Hippo, the home insurance unicorn, announced Tuesday an investment of $350 million from Mitsui Sumitomo Insurance Company, Limited, a subsidiary of MS&AD Insurance Group Holdings, Inc. In July, Hippo raised…
Based in Luxembourg, Astanor Ventures combines capital, technology, and sector expertise to invest in businesses that build regenerative, scalable, and nourishing food solutions. Using this philosophy, Astanor has invested in…