BRM Group to invest $30 million in Leumi’s Garage fund
The new fund, led by entrepreneurs Omer Nagar, Eyal Redler, and Shay Dan, is targeting a total of $160 million and will invest in startups in the fields of fintech, cybersecurity, data and AI
Meir Orbach | 10:41 27.01.2022
Bank Leumi has announced that the BRM Group will be joining as an anchor investor in “The Garage”, which invests, establishes and accompanies startup companies in the fields of fintech, cybersecurity, data and AI. The amount of the investment wasn’t published, but is estimated to be in the region of $30 million. BRM joins Leumi, which through Leumi Partners – the bank’s investment arm, holds 20% of The Garage. At the same time, advanced negotiations are underway with another strategic investor from abroad regarding joining the venture. The fund’s partners are set to invest between $110-120 million, with the fund expected to raise additional investments up to a total of $160 million.