Founder-first VC Meron Capital on Monday announced the close of its $50 million second fund Meron II. The second fund will invest in 18-20 early-stage deep-technology software startups led by Israeli entrepreneurs.
According to a note from the company, the fund will focus on startups that are building software-based solutions for enterprise, cybersecurity, digital health, Fintech, and DevOps amongst others.
Liron Azrielant, Managing Partner at Meron said in a press statement:
“We see ourselves as a startup investing in startups – we are creative, scrappy and move fast. We share the same spirit as our founders and that’s why we founded our own firm and chose to face the challenges of being emergent in a market of incumbents.”
Meron Capital team works with talented founders, helping them ideate their early conceptions and build out their teams.
Meron Capital had launched its first fund in 2017 and has so far invested in 16 startups with four successful exits –AIOps startup Loom Systems was acquired by ServiceNow, API integration platform Reshuffle was acquired by Twitter, digital health company Clear Genetics was purchased by Invitae and IoT startup Axonize was acquired by Planon. About 10 have raised bigger up rounds.
Meron II has already invested in four companies; LendAI, operating in the market of mortgage lending, where Meron was joined by Israel’s third-largest bank, Sorbet, the first PTO clearinghouse, in a deal they closed together with Viola, Firmbase, a Fintech startup in which top angels have invested, and Laminar, the first Data Protection platform for cloud-native applications, where they invested alongside TLV Partners and Insight Partners.