State of Mind Ventures announces two new funds totaling $200 million
The Israeli VC also named two new partners in Merav Rotem Naaman and Andy Bellass
CTech | 12:29 13.10.2021
Israeli venture capital fund SOMV (State of Mind Ventures) announced on Wednesday the launching of two new funds, SOMV 3, their third early stage fund, and Momentum for early growth. The new funds are valued at approximately $200 million, which will bring the total capital under management of SOMV to approximately $400 million. The VC also announced the joining of two new partners, Merav Rotem Naaman and Andy Bellass. Merav Rotem Naaman, a HBS graduate, joins SOMV from her role as Managing Director at Verizon Ventures (Israel and Europe), the American telecom and media giant, where she sat on numerous Boards such as Optibus. Prior to Verizon, Merav headed the AOL Venture Seed Fund in Israel. She also held various managerial roles at Better Place, Cellcom and Bain & Co in San Francisco.