Wadi Ventures, a Tel Aviv-based early stage venture fund, received an investment from BlueNext, an Italian holding company.
In conjunction with the transaction, whose amount was not disclosed, Mr. Giacomo Mariotti, a serial entrepreneur in the IT industry and President of Assosoftware, the Italian Software Association joined Wadi’s Supervisory Board.
Founded in August 2012 by Jonathan Pacifici and Reuven Ulmansky, Wadi Ventures backs early stage internet and new media startups in Israel providing financial resources (generally up to $30-50k in return for 7-10% equity), mentorship from business experts, lawyers, accountants, IP experts, and exposure to the European market
It has 9 startups in portfolio: SeatID, Folloyu, Winkapp, Bablic, Talking Layers, Clctin, PicBadges, Shoptagr, and Zikk Software and plans to accept around 60 new startups by the end of 2014.
18/12/2012: Wadi Ventures, Interview With General Partner Jonathan Pacifici