Sienna VC raising $250 million to invest in Israeli startups
The European fund plans to invest between $5-15 million in each funding round, with varied areas of focus including AI, cybersecurity, fintech, digital health, foodtech, agritech, and more
The European venture capital fund, Sienna VC, is raising $250 million to invest in Israeli technology companies. Headed by Isabelle Amiel Azoulai, the fund will focus on early-stage startup companies. Unlike other European funds, Sienna VC will utilize the new fund to exclusively invest in Israeli companies.
To date, the fund has reached an initial closing of $100 million and has already made three significant investments. It is in advanced negotiations to finalize the raising of additional funds in the coming months. Partners in the fund include Thomas Visan and Mikaël Pereira.
Belgian holding company Groupe Bruxelles Lambert (GBL), one of Europe's largest and leading companies in its field, is the main investor in the fund. The fund plans to invest between $5-15 million in each funding round. The areas of focus for investment include AI, cybersecurity, fintech, digital health, foodtech, agritech, and more.
In a conversation with Calcalist, Amiel Azoulai, the founder of the fund, explained why Sienna has chosen to exclusively invest in Israeli companies: "This is actually our third fund and our first independent one. Our experience with Israeli companies has been very positive, with investments in companies like Taboola. We believe that the best way to access leading technology companies is not only through Silicon Valley or the United States in general, where American funds dominate, but also through Israel, which is the second-largest technological hub in the world.
"Israel holds a special status in the United States, and many American funds have a presence in Israel. Our presence here is also important to us. We frequently visit Israel, meeting with dozens of companies and other investors with whom we often co-invest in various opportunities," noted Amiel Azoulai.
One of the significant challenges for Israeli companies is penetrating the European market. Most Israeli companies tend to prioritize the U.S., with Europe often becoming an afterthought at a later stage.
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According to Amiel Azoulai, Sienna VC aims to be the bridge that opens doors for Israeli companies on the European continent. "We want to bring to Israel what is lacking here, which is a connection to Europe. As a European fund, we have strong ties with many leading corporations in Europe and can provide significant value to these companies. Israeli companies should not overlook Europe, which is geographically close to Israel and hungry for technological innovations in numerous fields, particularly climate, agriculture, food, and more."
Amiel Azoulai also emphasized that Sienna is focused on investments that generate significant social value, stating that they will not invest in companies that do not align with their values. The fund considers Environmental, Social, and Governance (ESG) factors a necessary component of their investments.
Sienna has already closed three investments in Israel (Hourly.io, DouxMatok, and SupPlant), and is working on two new investment opportunities.
VC La Maison, co-founded by Amiel Azoulai, invested in more than 40 Israeli companies such as Via, AppsFlyer, Dynamic Yield, Guardicore, Minute Media, and Healthy.io among others.
