Forestay Capital raises $220 million to invest in AI and SaaS startups in Israel and Europe
The European-based VC typically invests $10-15 million as a lead investor in early growth rounds. The new fund, Forestay II, has already partnered with enterprise AI startups such as Israeli cybersecurity solution Veriti
Forestay Capital announced on Wednesday that it has closed its second fund, Forestay II, at $220 million. Forestay II will focus on investments in Enterprise AI and Software as a Service (SaaS) companies at early growth stages, primarily across Europe and Israel.
Forestay typically invests $10-15 million as a lead investor in early growth rounds. Forestay I’s portfolio includes the likes of Wasabi, Nexthink, Scandit, and K2View of which three reached unicorn status and two were acquired at an average gross IRR exceeding 50%.
Forestay II has already partnered with enterprise AI startups such as Israeli cybersecurity solution, Veriti, and engineering intelligence company, Neural Concept.
Forestay was founded as an enterprise technology fund of B-FLEXION, the private entrepreneurial investment firm established by the Bertarelli family, known for building Serono into the third-largest biotech business globally before its merger with Merck KGaA.
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In its second fund, Forestay has received backing from some of the largest family offices in Europe including a partnership with Anaïs Ventures, the investment vehicle for certain members of the Firmenich family.
