Former Blumberg Capital Director Raises New Fund

Israeli-born venture capitalist Alon Lifshitz is raising a $120 million fund, to be called Hanaco Venture Capital, according to a person familiar with the matter. The fund already raised $80 million out of its $120 million goal, primarily from family offices, this person added. Mr. Lifshitz is a former managing director of San Francisco-headquartered venture capital firm Blumberg Capital, where he headed the firm’s Tel Aviv office.

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Hanaco Ventures will invest in early-stage startups operating in Israel and New York, the person said. The venture capital firm will focus on artificial intelligence technologies, cybersecurity, fintech, augmented reality, robotics, and autonomous vehicles.

Mr. Lifshitz served as board member at marketing startup at Yotpo Ltd., at e-commerce payment startup Zooz Inc., and at content creation startup Apester Ltd. He oversaw investments in data-based credit startup Fundbox Inc., in behavioral fraud detection startup BioCatch Ltd., and in cybersecurity company Fortscale Security Ltd.

Update: this article was revised. A previous version stated the Mr. Lifshitz was a partner at Blumberg Capital.