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97212 Ventures Closes $20M Fund Giving Israeli Founders Access to NYC Tech Ecosystem

97212 Ventures

97212 Ventures, a NYC-based venture capital firm focused on Israeli founders, closed a $20m fund.

97212 Ventures was backed by successful investors including Modi Rosen, Co-founder / Managing Partner, Magma Ventures and first investor in Waze, Appsflyer, Guesty amongst other Israeli unicorns;  Owen Davis, Managing Partner, Contour Ventures and first investor in NYC startups Datadog and SeatGeek; Paul Martino, Managing Partner, Bullpen Capital, and first investor in FanDuel, and Ran Reske, Founder and CEO, Resident which recently sold for $1B, among others. 

Founded by Eyal Bino, 97212 Ventures is dedicated to providing capital to Israeli pre-seed and seed startups to establish a presence in New York City, as well as to a pool of resources to grow their businesses including key senior advisors, early customers and channel partners to enable US product-market fit and early growth. 

The fund, which requires founders to move there within 18 months, has already invested in 14 startups including:

  • hybrid drug company Remepy, co-founded by Michal Tsur, (former President of Kaltura) and Or Shoval,
  • Beti, an advanced, cloud-based platform designed to allow construction companies to supervise and coordinate workflows and worker safety on site, and
  • Ritual, a provider of digital tools to guide users through their personalized relationship journeys with on-demand therapists.

New York has established itself as a hub for Israeli tech, with 30 Israeli unicorns and 450 startups headquartered in the city. Bino had previously co-founded ICONYC labs, a go-to-market accelerator focused on investing in pre-seed Israeli startups that helped reduce time to access the US market. ICONYC success stories included Connecteam, Dataloop, Leal Health, Duve, SecuriThings, Copyleaks and more.

VCWire

09/05/2024