SYN Ventures raises new $75 million fund to double down on Israeli cyber
SYN Ventures raises new $75 million fund to double down on Israeli cyber
“In all our conversations with both existing and new investors, we have made it clear that a substantial portion of the new fund will be invested in Israel. No one has indicated any intention of withdrawing or giving up on their investments,” said Marcio Lempert, SYN Ventures’ Israeli partner
SYN Ventures has launched a fund for investments in Seed companies in cyber, and has so far raised more than $75 million. The final closing of the fund is expected by the end of the year. The first fund was established in 2021 by Jay Leek and Patrick Heim, who were later joined by Marcio Lempert as a local partner in Tel Aviv, Israel. The fund previously raised two funds for investments in stage A companies, the first in the amount of $200 million and the second in the amount of $300 million.
"Since the beginning of the war, investors from both the new fund and previous funds have been in touch with questions, but importantly, no one has asked us to alter our strategy or to refrain from investing in Israeli ventures,” Marcio Lampert, the fund's Israeli partner, told Calcalist. “Only a few inquired about the potential impact on existing companies. We have invested in six companies in Israel, and everyone who inquired expressed a keen interest in how they could offer assistance.
"It's essential to highlight that, in all our conversations with both existing and new investors, we have made it clear that a substantial portion of the new fund will be invested in Israel. No one has indicated any intention of withdrawing or giving up on their investments. From our perspective, it's business as usual, and we remain, as previously mentioned, solely focused on the field of cybersecurity. This situation has not led us to think differently. The significant change is that we are now investing at a very early stage. In the past, we focused on later-stage companies, whereas now we are concentrating on companies in their conceptual stages. Just last week, I met with three groups of entrepreneurs with new ideas, which gives us reasons for optimism."
Lampert continued, "Unless there is a major global development, we do not anticipate a significant change in the trends within Israel regarding the establishment of new companies and ventures. We see a great deal of activity from entities interested in investing in Israel during this period. While we should remain cautious about extreme scenarios, we do not expect that previously signed transactions will be canceled. Although the current situation is undoubtedly a significant challenge, it is not without precedent. International companies have experienced similar situations in Israel before. We believe Israel’s uniqueness, coupled with the presence of talented entrepreneurs and a technological advantage, will enable Israel’s continued success."
SYN Ventures managing partners have cumulatively invested in more than 65 cyber companies, some through their previous fund - ClearSky. Ten of the investments were made in Israeli companies, including: Mitiga, BigID, Talon Cyber Security, RevealSecurity, Transmit Security and Refine Intelligence. Four of its companies - Solebit, Demisto Preempt and Intsights - have already been sold for a total amount of about $1.2 billion.
