Israeli venture capitalist firm Hetz Ventures announced the closing of a $77 million fund, becoming the VC’s second fund, managing a total of upwards of $130 million. After scoring initial funding in April, July came with the ticket being over subscribed, showing that the COVID crisis wasn’t as much of an obstacle for the VC.
The fund already has 2 investments in the bag
Founded in 2018, Hetz Ventures targets early-stage Deep-tech startups, with a focus in organizational technologies, DevOps, cyber, cloud computing, and fintech. According to Hetz almost 90% of the second fund’s subscribers are experienced investors from around the world. The firm reports that some of the founders from the first fund’s portfolio companies returned with investments in the second fund, and that has already made two investments.
In response to closing the fund, Managing Partner Judah Taub explained that “we established Hetz Ventures almost three years ago with an aim of investing in startups developing Deep-tech, and leverages its creative business models to change market perspective. The business world is operating on COVID reality capacity, therefore making these technologies one of the highest priorities. We are building partnerships with companies that close market gaps.”
Taub added: “Our extensive international network accelerates the succes if our global portfolio. To-date, every company that we invested in profited from this growing network, most notably for finding strategic partnerships from a global community. We are excited about the new fund’s investment oportunities. In, addition, the fact that most of the investors from the first returned for a piece of the second only shows the trust they have in our approach, as well as the desire of former supported entrepreneurs to become our investors.”
The VC praises its quick decision making, which according to the fund takes up to four weeks from first meet until investment. The four week process includes presenting a market opportunity and pain, leading to analysis of competition, potential customers, and solution through a visible and thorough process.
Hetz’s first fund invested in 10 companies, such as Trigo, providing register-free shopping; Granulate, which optimizes cloud infrastructure and workloads for real-time improved performance; Codota, developer of autocomplete system for writing code in different languages like HTML, C, Python, Java, JavaScript, Anima, and more, while enabling design automation based XD, Sketch or Figma. Furthermore, Hetz Ventures’s portfolio also includes Infinipoint, DeepChecks, MarketBeyond, Jones, and Acumen.
