from the December 2013 issue

Blumberg Capital closes $150m fund, to include Israel-focus

Blumberg Capital has closed Blumberg Capital III, a $150 million venture capital fund dedicated to seed and early stage investing in disruptive technology start-ups, which will include a focus on Israel. Blumberg Capital is headquartered in San Francisco with an office in Tel Aviv.

Blumberg Capital managing partner David Blumberg said, "We specialize in leading seed-stage financing rounds with a motto of ‘Go early, go big'."

Blumberg Capital managing director Bruce Taragin said, "We're appreciative that Blumberg Capital is being recognized by entrepreneurs as a premier seed venture capital firm. By actively supporting our portfolio companies, we have built meaningful relationships with founders and management teams, which drive our proprietary deal flow."

Uri Levine, founder and chairman of FeeX, a Blumberg Capital portfolio company, and who was previously a founder of Waze, said "Blumberg Capital was our first choice to lead our Series A financing. The Blumberg Capital team was engaged and helpful throughout the due diligence process and has proven to be a great partner with strategic introductions to help us scale in Israel and the US."

Other recent Blumberg Capital investments in Israeli start-ups include payment processing company Credorax, and to do list app Any.DO.

Blumberg Capital specializes in leading Seed and Series A rounds in syndication with angels, venture capital firms and strategic investors. Typical investments range from $500,000 to $3 million with additional amounts reserved for follow-on investments.

Blumberg Capital said that the Blumberg Capital III fund was overscribed.

Reprinted from the Israel High-Tech & Investment Report December 2013

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