StartUp Nation Ventures (SUNV), a Florida-based crowd-backed investment firm that specializes in early-stage startups, announced the launch of a new $25 million fund (SUNV Fund) focused on disruptive Israeli technology startups ready to break into US and Latin American markets.
The fund is part of a collaboration between StartUp Nation Ventures and the Israel Innovation Authority (IIA), which established the Israel-Florida Innovation Alliance, an initiative launched in 2017 to support Israeli innovation companies in the discovery and selection of Florida as their destination to establish US headquarters.
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The SUNV Fund was launched in partnership with private equity firm Merging Traffic and will focus on “investment in Israeli technology startups aligned with Florida’s high-tech clusters like cybersecurity, tourism, blockchain, medical technologies, financial technologies, smart cities, eSports, and gaming,” StartUp Nation Ventures said in a statement.
The selected companies will have a minimal viable product or working prototype and may be approved for a grant by the Israel Innovation Authority of up to 50 percent to support R&D and market validation costs to expanding their solutions into the US and Latin America.
“The partnership with the Israel Innovation Authority will foster greater collaboration and synergies between Florida’s burgeoning innovation ecosystem and Israeli innovative companies by aligning these companies to grow and integrate across Florida’s high technology clusters,” said StartUp Nation Ventures founder and CEO, Dr. Vicki Rabenou. “The SUNV Fund will provide investors with unique access to a diverse portfolio of hi-tech Israeli companies backed by Israeli Innovation [Authority] grants.”