The Israeli cyber think tank Team8 recently announced the launch of a new venture capital arm, Team8 Capital. The fund is led by Sarit Firon and Liran Grinberg, who is one of Team8’s original founders.
$104 million (and maybe more) for investment in Israeli startups
The new venture arm will lead investments in companies during their Seed, A, and B rounds. Its main investment focus will be companies from data, AI, cybersecurity, and organizational technology industries. Team8 Capital has so far raised $104 million in commitments based on reports filed with the U.S.Securities and Exchange Commission (SEC). Though based on estimates, that number could easily grow to $150 million.
At the head of the fund sits investor Sarit Firon, who had scored big with prior exits and IPOs valued at more than $4 billion from various involvement with Datorama, Armis, Demisto, Dynamic Yield, and Fiver’s IPO. If that wasn’t impressive enough, then Firon’s more than 25 years sitting on director boards and management positions in leading tech companies surely ought to do it.
Team8 Capital is expected to expand and elevate the group’s reach, with the purpose of creating an investment strategy, as well as collecting critical data during the investment stage. Under the umbrella of the new VC fund, companies will receive guidance and help from the group’s founders, in recruiting R&D personnel. In response to the launch of Team8 Capital, Firon noted: “Now more than ever, connectivity and reliable digital infrastructure are top priority for organizations, particularly in order to thrive during these unprecedented times we are in. Team8 Capital is uniquely positioned to collaborate with top entrepreneurs while elevating our own abilities to donate from our rich company-building experience, deep domain expertise, and guidance with go-to-market strategies, as well as talent recruiting.”
Team8 Capital has the advantage of being a unique entity in the startup and VC industry in Israel. The fund identifies needs, builds companies to provide solutions, commits initial investments, and then connects them with strategic clients. The startup foundry and think tank has raised $175 million since it was founded in 2014 by former IDF intelligence team leaders for the elite 8200 unit. Team8 employs a strong team of 40 R&D, marketing, business development, and HR experts based out of offices in New York and Tel Aviv. Among the group’s success stories we can find Claroty, Illusive Networks, Hysolate, Curv, and Sygnia - who acquired by Temasek for $250 million.