The Sarona Ventures Fund, under the Sarona Partners Group, has announced a new $20 million fund that only includes investments from private investors and wealthy families. The fund’s focus is on early-stage investments in Israeli entrepreneurs and startups in the Seed and Series A stages.
Several major investors have joined the fund, including several unicorn co-founders including TripActions, Verbit, Deel, ContentSquare, and SumUP. Other investors include founders and managers of the world’s most prominent funds, including Spark Capital, which has invested in Twitter and Slack, and Green Bay Ventures, which has invested in Lime, Dropbox, DocSign, Spotify and MoonPay. Anish Acharya, a general partner at Andreessen Horowitz, who led the firm’s investments in Deel and Titan, among others, also personally invested.
The fund will focus primarily on companies that have completed Sarona Partners’ 365x scaling programs, as well as companies that have graduated from the leading US accelerator, Y-Combinator, and recently launched fund-owned accelerators.
“We are lucky and proud to have so many amazing people join our vision,” said Toot Shani, Founding Partner and CEO of Sarona Partners. “We are honored to have our expansion strategy validated by the best people in the industry. With the help and advice of such incredible investors, our startups will fly.”
Additional investors joining Sarona include global law firm Orrick’s partner fund, and other entrepreneurs such as the Afflelou family, owners of the French optics consortium, Austria’s largest angel investor, Johann ‘Hansi’ Hansmann, Justin Mateen, co-founder of Tinder, Dr. Ravi Dattatreya, and Olivier Elbaz, former CEO of Salesforce.
The new fund recently participated in a Series A investment in TINT, a company that enables technology platforms around the world to integrate insurance and regulations into products, which graduated from the Y-Combinator program. Israeli companies the fund has invested in include: ByondXR, a 3D and augmented reality company backed by OurCrowd and Union Group; Salvador Tech, a software and hardware cyber-attack and recovery company, backed by Chemi Peres’ Pitango Fund; Agora, an investment management software that recently announced a fundraising round led by Aleph Venture Capital; Depoint, whose solution helps retail organizations keep track of their inner workings and is backed by early monday.com angel investors; and Medcase, a company that provides medical data to giants like Google.
Sarona Ventures was founded in 2017 as an arm of the Sarona Partners Group, by Philip Bouaziz (Chairman) and Toot Shani (CEO), on the grounds of the Bouaziz family office investment house. With aggregate investments in more than 300 startups, to date the Group’s portfolio includes seven unicorn companies.