Israeli-US venture capital fund to invest primarily in early stage startups helping them break into the US market
Great news for Israeli startups: Joint Israeli-US venture capital fund LionBird, led by Isaac Friedman, Ed Michael and Chaim Friedman, announced the closing of capital recruitment for their first fund looking to invest in Israeli and American startups. The new fund termed LionBird I, has a total potential investment base of $20M, which it plans to invest primarily in startups developing Online Tools.
Seeking Series A Companies
The new VC fund will invest in approximately 20-25 startups in their seed and Series A stages, in amounts ranging from between $200K to $750K dollars per company. In an interview with Geektime, fund partner Jonathan Friedman explained that the fund plans to concentrate its investments in early rounds (Series A), but not exclusively. The fund plans to invest in seed rounds that show high growth potential and to continue to invest in subsequent financing rounds of well performing companies.
Portfolio companies of LionBird have thus far included several Israeli startups with 2013 investments in Rami Shalev and David Kahani’s Phisyhome, Eyal Molad and Eyal Yair’s CartCrunch and Rami Cohen’s Telesofia. 2012 fund investments included Marqeta and StreamOnce, acquired by Jive last May.
The Goal: Help startups break get to the US
“We are pleased to announce the initial closing of LionBird I. The fund will enable LionBird to continue to invest in and support promising startup companies in the field of online Tools to significantly improve the offline processes in medicine, commerce and enterprise.” The fund plans to split its investments mainly between Israeli and American startups.
LionBird has two offices; the Israeli offices being located in Ramat HaChayal, Tel Aviv and the US offices sitting in Chicago. The fund offers some of its startups work space that it calls the “Nest” as well as supplying mentors and consultants who seek to help guide the companies on their US market penetration strategies
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