Magenta Venture Partners Launches New $100M Fund For Early Stage Startups In Israel

Israeli venture capital firm Magenta Venture Partners announced the launch of a new $100 million fund destined for early-stage startups. The fund’s first closing was made in October 2018, while the second one is scheduled for 2019.

The fund specializes in early-stage investments in Israeli and Israeli-related technology startups in sectors such as automotive, mobility, AI, smart cities, and fintech. The fund was launched by Hiroshi Takeuchi of Japanese trading and investment company Mitsui & Co. Ltd., and venture capital professionals Ori Israely and Ran Levitzky.

Magenta Venture Partners is an equal partnership between Israely, Levitzky, and Mitsui & Co.

“Our name Magenta, is a blend of blue and red – the colors of the Israeli and Japanese flags” and “it signifies the strengths of Israel and Japan,” Israely said in a statement

Regarding the new fund, he stresses that this is “financially focused, but we look to invest in startups that not only look for capital but also seek value driven by the team’s experience in Japan, EU, and the US. We also leverage our investors to analyze and validate investments, assist the portfolio, and help all the startups we engage during this process.”

Hiroshi Takeuchi, Managing General Partner of the fund, said: “Investors in Magenta Venture Partners include Mitsui & Co. Ltd. and Koito Manufacturing Co. Ltd. who are looking to work with the fund to identify innovative technologies in Israel.”

“Magenta will also work on introducing benefits of cooperation with such LPs to maximize return on investments, expose LPs to innovation generated by our portfolio companies and also from our deal flow,” he added.

Levitzky said “Magenta offers unique added value in Israel’s venture capital scene. Israeli entrepreneurs have a clear understanding that building a significant company requires a variety of products that are marketed not only in the west but globally including the east and Japan in particular.”

The new fund is adding Ron Shvili, former head of the technology center for the IDF’s 8200 unit, to its advisory board. Shvili is currently the CTO & VP of Technology and Information Systems of Cellcom.