Team8, an Israeli venture business, announced that it has raised $500 million to invest in cyber, data infrastructure, fintech, digital health, and artificial intelligence (AI) startups, bringing the total funds under management to well over $1 billion.
On Tuesday, Israeli venture company Team8 said that it had collected $500 million to invest in cyber, data infrastructure, fintech, digital health, and artificial intelligence (AI) startups, increasing the total funds under management to well over $1 billion.
Over the last decade, Team8 has founded 20 companies and invested in 21 more, typically investing $5–10 million in each one. So far, it has made eight departures.
“This (new) capital will allow us to build and invest in another 30 companies or so,” Yuval Shachar, Team8’s managing partner, stated. “Our model has proven to be very attractive, definitely for second- and third-time entrepreneurs.”
While Team8’s roots are in the Israeli military’s 8200 intelligence unit for cyber security, it has broadened its focus to include data infrastructure, financial technology, artificial intelligence, and digital health.
The fresh money will be allocated to three new funds, including $235 million for its second venture capital fund. Another $110 million will be allocated to Team8’s third venture creation enterprise fund, through which the company will develop two enterprises every year.
It also established a new digital health fund worth $70 million.
Shachar stated that during the fundraising process, it already invested in two cyber startups, two more in digital health, and numerous others from its venture capital fund, opting not to wait and “wanting to keep the momentum going.”
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