SeedIL raises $18 million for new early-stage fund
Founded by entrepreneurs Cynthia Phitoussi and Audrey Chocron, SeedIL has achieved four exits to date from its first fund, including BreezoMeter, which was acquired by Google for over $200 million.
Venture capital fund SeedIL, founded by entrepreneurs Cynthia Phitoussi and Audrey Chocron, has raised a new micro fund to invest in Israeli Seed-stage companies. The new fund raised approximately $18 million for investment, compared to about $10 million raised by the previous fund. To date, the fund has achieved four exits, including BreezoMeter, which was acquired by Google for over $200 million.
The entrepreneurs told Calcalist that despite strong interest from investors to establish a larger fund, they chose to continue with a micro fund, albeit one larger than the previous one. Despite the challenging situation in Israel, the fund managed to attract new investors from Europe and the United States who have not previously invested in Israel. Since its inception in 2014, the fund has invested in 33 Israeli start-up companies at the Seed stage.
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"The future looks bright; we will emerge stronger," said Phitoussi. "Excellence must be maintained, and the world will continue to seek out our technologies—we have no other option."
