VC arm of Israeli startup foundry Team8 raises $104M
Team8 company announced the launching of venture capital arm. The new fund, called Team8 Capital, will focus on investing in startups working in the fields of data, artificial intelligence, and cybersecurity.
Team8 Capital will support companies at the seed, series A and B rounds of funding. As reported by the U.S. Securities and Exchange Commission’s data, it has already received commitments of $104 million, reports CTech.
Team8 is company-building venture group. It was founded in 2014 by Nadav Zafrir, Israel Grimberg, and Liran Grinberg. According to the information from the company’s webpage, it focuses on building and investing in technology companies, as well as supporting entrepreneurs with experts and community of enterprise c-level executives and opinion leaders. Previously, Team8 was already financially supported by Microsoft, Walmart, AT&T, Cisco, Airbus and Barclays.
Team8 Capital will be managed by Grinberg and Israeli leading angel investor Sarit Firon. The raised funds will be used for the further financing of companies that were established by the startup foundry.