Israeli-European venture capital firm Cardumen Capital has raised $120 million for its second deep tech fund to invest in early-stage startups in Israel. Part of the fund was raised in response to the outbreak of war with Hamas on October 7th.
Cardumen invests in pre-seed and seed stage companies in areas such as AI, cybersecurity, big data and information technology. To date, it has invested in 32 Israeli companies, and the new funding brings its assets under management to $225 million.
Cardumen, which has offices in Tel Aviv and Madrid, is chaired by Gil Guidron, who founded it in 2018 with Gonzalo Martínez de Azagra and Igor de la Sota. The fund has previously invested in SaaS cybersecurity platform DoControl (backed by Insight Partners and Crowdstrike), big data B2G platform IVIX (backed by Insight Partners and Citi Ventures), and NeuReality (backed by Samsung and SK Hynix). ing.
“Israeli entrepreneurs rise up in the face of adversity,” said Gonzalo Martínez de Azagra, co-founder and general partner of Cardumen Capital. “These are tough times in which great companies are founded. Our commitment to Israeli technology is stronger than ever. This commitment is reflected in the expansion of our local team. Israelis and Europeans As a team of people and with close ties to the US and Asian markets, we are well-positioned to provide startups with access to global markets. We look forward to partnering with fellow entrepreneurs and investors in 2024 and beyond. looking forward to it.”
“We see a huge opportunity in the current market. We are actively developing what will probably be one of the best vintages of our generation,” says Cardumen. – Nimrod Brandt, an investment expert who has been appointed Capital's partner in Israel and has held a number of executive positions at Hutchison, Gagit Globe, and Credit Suisse, said: .
Cardumen Capital has also expanded its team over the past year, adding Nadav Charnilas (Principal), a product and marketing veteran with more than 10 years of experience as a leader and operator at tech giants Microsoft, Vimeo, and Wix, and Dana Kleiman (Principal). We welcomed (Associate). , former lawyer at Israel's elite boutique Yigal Arnon & Co. The three join Noa Shamay (Principal), who has been with the firm for four years.