Grove Ventures, an early-stage venture capital firm headquartered in Tel-Aviv, today announced the closing of ‘Grove III’, a $185 million fund that hopes to partner with exceptional Israeli entrepreneurs at an early stage.
VC’s and Israeli technologies…
Venture capital financing is important to promote entrepreneurs, promote products, promote latent talent, and promote technological growth, all of which are pivotal to the Israeli start-up ecosystem. Grove Ventures is one of the many VCs helping Israel to maintain its Start-Up Nation status.
Grove Ventures is an early-stage venture capital investment firm, which partners with first-rate Israeli entrepreneurs who believe that the ‘Deep Future’, the infrastructure that allows the leap forward for tomorrow’s technologies and digitalization processes that will shape the future of the world, is happening now and are ready to build it. Grove invests in leading start-ups developing hard-to-replicate solutions at the intersection of technology, science, and applicable market needs. Its investment thesis is based on the premise that Edge computing, Cloud infrastructure, and AI, create a new set of investment opportunities in multiple sectors, including developer tools and software, data infrastructure, semiconductors, digital health, DevOps, automation, and more. The fund’s core principles are putting people first, close cooperation and value-creation. Grove's team, built of experienced investors, veteran entrepreneurs, and company builders, provides start-ups with the needed support to become exceptional companies.
The fund’s broad team, which includes the entrepreneurs-turned-investors, uses its resources to give its portfolio companies maximum value through access to further funding, and support for HR and management recruitment, marketing, sales, connection to its network of enterprises, and more. The recent closing of the third fund highlights the success of Grove Ventures’ investment team and strategy.
Grove Ventures also announced that they have made some changes to their team— They have promoted Renana Ashkenazi, a graduate of Israeli Intelligence Corps Unit 8200 and Northwestern University who formerly led a product team at Applied Materials, from Principal to General Partner. The other existing partners are Dov Moran, inventor of the USB flash drive who sold M-Systems to SanDisk for more than 1.6 billion dollars; Lotan Levkowitz, who comes from a diverse background as an advisor and investor; and Lior Handelsman, one of the founders of SolarEdge, the only Israeli company listed on the S&P 500 index.
The partners at Grove made a joint statement stating, “We are excited to announce Grove III. We thank our LPs for their trust and for the opportunity to support the next generation of companies that will propel the technological leaps forward and digitalization processes to power the future of the world. We are in a challenging and fascinating period in which the world is becoming more digital than ever. We work to be a home for Israeli founders who build significant technological innovation and infrastructure and create game-changing companies.”
Founded in 2016, Grove Ventures now has close to half a billion dollars under its management. They have investments of over 24 companies including Wiliot, RapidAPI, ActiveFence, Lumigo, Metrolink, Navina, env0 and CommonGround. Grove III will focus its investments in early-stage (Pre-Seed, Seed and Series A) Israeli start-ups.