An Israel focused startup investor, YL Ventures said it has raised USD75 million. The new raise is its third fund, called the YLV III.
The company said the new fund builds on the success of its two prior funds, both of which generated returns in the top quartile of all North American Venture Capital funds, according to Preqin.
The company said the YLV III was significantly over-subscribed with nearly 100 percent of existing YLV II investors participating, and closed on $75 million, 25 percent above its target of $60 million. The fund will invest in seed-stage Israeli companies in high-growth sectors including cybersecurity, enterprise software, autonomous vehicles, drone technologies and VR/AR. YLV III aims to invest in two to three companies per year. Initial seed investments will be $2-3 million, with YL Ventures leading the rounds. A large portion of the fund is reserved to participate in U.S. VC-led follow-on rounds of its portfolio companies.
The third round will be used to fund two to three companies per year. Initial seed investments will be $2-3 million, with YL Ventures leading the rounds. A large portion of the fund is reserved to participate in U.S. VC-led follow-on rounds of its portfolio companies. YL Ventures is currently recruiting additional investment professionals to join its Silicon Valley and Tel Aviv offices.
YL Ventures said it is currently recruiting additional investment professionals to join its Silicon Valley and Tel Aviv offices.
Managing Partner Yoav Andrew Leitersdorf said “Israel is a well-known powerhouse for cybersecurity and related technological innovation. We are able to harness that expertise to expand into new sectors that leverage artificial intelligence, machine learning, computer vision, big data and robotics, all of which are highly relevant to our new fund. While remaining extremely selective, we can vet ideas fast, devote substantial attention to helping our companies scale, and provide a lot of value post-investment.”
