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Laxman Pai, Opalesque Asia: Fort Ross Ventures, a California-based investment firm focused on startups in the U.S., Israel and Eastern Europe, said it has closed a $235m second fund, $35m above the original target.
Demand for Fund II was fueled by the firm's recent exits, including Dynamic Yield (acquired by McDonald's for $327M), CoverWallet (acquired by Aon), and the IPOs of Uber and Tufin, said a press release. Fort Ross's two funds combined have a total of $345 million assets under management (AUM).
"In these volatile financial times, we're pleased that our second fund has garnered so much attention. This allows us to continue to bridge the U.S. and Israeli startup ecosystems with Eastern European markets," said Victor Orlovski, Founder and Managing Partner at Fort Ross Ventures.
Fort Ross's Fund II focuses on startups specializing in cloud, fintech, cybersecurity, artificial intelligence, machine learning, and marketplaces. It recently participated in Roofstock's Series D, Fetch Robotics Series C and FireFly's Series A2.
The company also announced that Ms. Sharin Fisher, a former officer of Israel's elite cyber-intelligence agency, Unit 8200, has joined the firm as a partner to help identify cybersecurity, SaaS, big data, artificial intelligence, and fintech startups.
Fisher will join the Israel office based in Tel Aviv. She brings 14 years of technology-focused experience from serving nine years at Unit 8200's Cyber-Intelligence Agency and leading th...................... To view our full article Click here
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