97212 Ventures announces $20 million fund offering Israeli tech founders privileged access to New York’s tech ecosystem

Boutique fund based in New York, backed by an established LP base of experienced investors and successful founders

NEW YORK, May 10, 2024 /PRNewswire/ — 97212 Companiesa new generation venture capitalist in New York and initial partner of Israeli founders, today announced the closing of a $20 million fund aimed at investing in new Israeli pre-seed and seed startups, providing them with instant access to a pool of rich new York has resources to grow its business, including key senior advisors, early customers and channel partners, paving the way for product fit with the US market and rapid growth.

New York has established itself as a hub for Israeli technology, with 30 Israeli unicorns and 450 startups headquartered in the city. 97212 founder Eyal Bino played a key role in creating this hub, having co-founded ICONYC Labs, a go-to-market accelerator focused on investing in pre-seed Israeli startups that have contributed to reduce access times to the American market. ICONYC success stories include Connecteam, Dataloop, Leal Health, Duve, SecuriThings, Copyleaks and many more.

“Israel has unique technological talent and this moment, when it is particularly difficult to obtain venture capital funding for early-stage startups in Israel, provides us with unique opportunities to access the best innovations that have the potential to become unicorns,” said Eyal Bino, founding partner. “This new fund is a comprehensive plug-in for Israeli entrepreneurs looking to build global startups by providing them with capital, advice and instant access to New York’s entire tech ecosystem, including senior advisors , design partners, potential partners and customer presentations.”

97212 Ventures is a premier fund dedicated to providing capital to Israeli startups to establish a presence in New York and requires founders to relocate there within 18 months. The company invests in B2B enterprise technology, digital health and wellness, and industries where digital transformation technology is essential, such as financial technology, accessories technology, and logistics. The fund has already invested in 14 startups including:

• Pioneering hybrid pharmaceutical company Remépy, co-founded by Michal Tsur (former president of Kaltura) and Or Shoval. Former Prime Minister Naftali Bennett, who made his name as a successful tech founder, is a key advisor to the company.
• Betian advanced cloud platform designed to enable construction companies to effectively supervise and coordinate on-site workflows and worker safety
• Ritualproviding digital tools to guide users on their personalized relationship journeys with on-demand therapists.

97212 Ventures is backed by a collection of successful investors, founders and operators, including Modi Rosenco-founder/managing partner, Magma Ventures and early investor in Waze, Appsflyer, Guesty among other Israeli unicorns; Owen Davismanaging partner of Contour Ventures and early investor in successful New York startups Datadog and SeatGeek; Paul Martinomanaging partner of Bullpen Capital and first investor in FanDuel, and Ran Reskefounder and CEO, Resident which recently sold for $1 billion, among others.

About

Based in New York, 97212 Ventures is a seed fund exclusively focused on investing in top early-stage Israeli startups committed to building landmark businesses in New York. Backed by an established base of experienced investors and successful founders, the fund is quickly becoming the “go-to VC” for Israeli founders looking to grow their business in New York and reduce their access to the US market.

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SOURCE 97212 Companies