Meron Capital today announced today the closing of Meron II, its second $50 million fund to invest in early-stage deep-technology software startups led by Israeli entrepreneurs. The new fund will target 18-20 pre-seed and seed investments in startups that are building software-based solutions for enterprise, cybersecurity, digital health, fintech, DevOps and more.
Meron Capital closed its first fund in 2017 and has since invested in 16 startups, four of which have already made successful exits; AIOps startup Loom Systems was acquired by ServiceNow, API integration platform Reshuffle was acquired by Twitter, digital health company Clear Genetics was purchased by Invitae and IoT startup Axonize was acquired by Planon. 10 more have so far raised further financing with startups Immunai, Solugen and Armory alone disclosing combined investments in excess of $300 million to date.
Meron co-managing partner Liron Azrielant said, “We see ourselves as a startup investing in startups – we are creative, scrappy and move fast. We share the same spirit as our founders and that’s why we founded our own firm and chose to face the challenges of being an emergent in a market of incumbents.”
Meron’s other co-managing partner is Daniel Roditi, 29, the youngest VC in Israel to found a fund.
Meron II has already invested in four companies; LendAI, operating in the market of mortgage lending, where Meron was joined by Israel’s third-largest bank, Sorbet, the first PTO clearinghouse, in a deal they closed together with Viola, Firmbase, a Fintech startup in which top angels have invested, and Laminar, the first data protection platform for cloud-native applications, where they invested alongside TLV Partners and Insight Partners.
Published by Globes, Israel business news – en.globes.co.il – on June 14, 2021
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