"I'm calling this a micro-angel. I won't have an active role in it, but it will make investments based on my recommendations."
Jeff Pulver will today launch an eponymous micro-venture capital fund, Jeff Pulver Fund, at his annual summer party in Israel.
Notwithstanding the name, Pulver is neither the owner of, or an investor in, the Jeff Pulver Fund. The fund will invest in very early-stage Israeli start-ups, and it will be managed by Adv. Oded Caspi.
Pulver said, "I am calling this a micro-angel. I won't have an active role in it, but it will make investments based on my recommendations. The fund's founders share my agenda, and their focus is my focus: Internet, applications, and services companies. They have more time than I do to meet and get to know young entrepreneurs."
Pulver has invested several million dollars over the years in Israeli start-ups, including SeamantiNet Ltd., Innovid Ltd., and Sense of Fashion Ltd. "I estimate that the fund will have a total of $2-3 million, and investments will begin at around $40,000 per company," he said.
Pulver, an early investor in Twitter and Facebook, does not see a rosy future for Google Inc's (Nasdaq: GOOG) new social network, Google Plus.
Published by Globes [online], Israel business news - www.globes-online.com - on June 30, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011
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