The first fund specialized in SaaS startups, the second fund in cyber security while the third fund will invest in other tech fields.
YL Ventures has raised a $75 million third venture capital fund, according to a filing with the US Securities and Exchange Commission (SEC). The venture capital firm, founded by Yoav Leitersdorf, manages $60 million in its previous two funds ($32 million and $28 milion). Both funds focus on seed funding - $2-3 million per investment on average - in Israeli startup companies.
The first fund specialized in SaaS startups, the second fund seeks cyber security ventures and the third fund will also invest in cyber security as well as other tech fields to provide diversity for YL.
The newly raised YLV III received commitments from 45 LPs, the filing said. YL Ventures is incorporated in the Cayman Islands and has offices in California to help portfolio companies reach the US market, while investment operations are based in Tel Aviv.
Portfolio companies include vehicle cyber security developer Karamba Security, and cloud security solutions company Twistlock. The company has enjoyed exits such as Proofpoint's $55 million acquisition of cloud security company Firelayers last October and CA Technologies $100 million of acquisition of app performance testing company Blazemeter last September.