Flint Capital raises $160 million to continue investment in Israeli entrepreneurs
Flint Capital raises $160 million to continue investment in Israeli entrepreneurs
The new fund will invest in roughly 25 companies with Israeli founders as well as Israeli pre-seed VC funds and European startups.
Boston-based firm Flint Capital has announced it has closed its third VC fund for early-stage startups and a later-stage fund, totaling $160 million. Funds were raised from IT entrepreneurs including ex-portfolio founders and will be used to help early-stage Israeli and European startups in sectors relating to cybersecurity, fintech, digital health, enterprise SaaS, and B2C entering the American market.
“Working with almost 70 portfolio companies, we noticed an increasing demand for a longer investment cycle and created a late-stage ‘Opportunity’ fund for companies in which Flint Capital had successfully invested earlier,” said Sergey Gribov, Partner at Flint Capital. “This will allow us to actively support our portfolio companies throughout their full startup life cycle.”
Flint Capital has previously raised two funds, the first showing IRR with approximately 25% and three unicorns in its portfolio: Israel’s WalkMe (acquired by SAP), Socure, and Flo Health. It has also invested in Israeli companies CyberX (acquired by Microsoft) and Voca.ai (acquired by Snap). The third fund will continue its thesis in investing in early-stage startups with experienced founders as well as in Israeli pre-seed VC funds.
“Israeli entrepreneurs are some of the most resilient people in the world. Now more than ever, Flint Capital is committed to investing in the next generation of Israeli founders. Especially during these difficult times, we’re dedicated to supporting the prosperity of Israel,” added David Feldman, Principal at Flint Capital and representative of the firm’s Tel Aviv office.
Flint Capital was raised in 2013 and is headquartered in Boston, Massachusetts. Its managing partners are Dmitry Smirnov, Sergey Gribov, and Andrew Gershfeld. Recent follow-on investments include Sensi.ai which raised a $31 million Series B led by Insight Partners and Oren Zeev, and Cynomi which raised a $20 million Series A led by Canaan Partners. It is understood the new fund will invest in roughly 25 companies.
