Israeli late stage venture capital firm Qumra Capital has announced the first closing of Qumra Capital II. With commitments of $115 million, mainly from existing investors in Qumra I, Qumra intends to cap the fund at $150 million.
Qumra Capital was founded in 2014 by Erez Shachar, Boaz Dinte and Sivan Shamri Dahan who worked together at Evergreen Venture Partners, one of Israel’s veteran venture capital funds. Shachar and Dinte were managing partners at Evergreen. The partners were joined by Daniel Slutzky who serves as the fund’s CFO and was previously Benchmark Israel’s operating partner and CFO.
With this new late stage fund, Qumra will continue to provide growth capital to promising late stage companies that have moved beyond their R&D efforts, product development and market validation, and are looking to boost sales and marketing activities of their products and services. The Qumra I portfolio includes successful market leading companies such as Fiverr, JFrog, Appsflyer, Riskified, Signals Analytics, Minute Media Eyeview and Sweet Inn.
Qumra managing partner Erez Shachar said, “The Israeli high-tech market is characterized by a new generation of founders that are visionaries and passionate about building large, global, market leading companies. They are talented, experienced and are in for the long run. We partner with them after they have a proven product with a market fit and our investment of growth capital can provide a platform for scaling the company and allowing it to become a global leader in its field.”
He added “Three years ago when we founded Qumra, we were the pioneers in late stage funding in the Israeli market. Today we are proud to lead this segment and even prouder to back such fine entrepreneurs that are building an industry based on innovation that sets global industry standards and is the pillar of Israel’s economy.”
Published by Globes [online], Israel business news - www.globes-online.com - on July 19, 2017
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