YL Ventures, the Silicon Valley-based venture capital firm focused on the Israeli market, closing its second fund, at $27.5m.
YLV II, L.P., originally targeted at $25m, was subscribed by individuals and families with expertise in and around the Internet space.
The fund will invest in core technology Internet start-up companies. Key areas of focus will include SaaS, cloud computing, big data, cyber security, DevOps, e-commerce infrastructure and mobile technologies. It will provide them with seed capital, direct relationships in Silicon Valley and Software-as-a-Service (SaaS) business building expertise. YLV II’s initial investments – often made as lead investor – will typically range from $1m to $2m. Follow-on rounds will be done in syndication with other investors. The firm can also consider companies outside Israel.
Led by Yoav Andrew Leitersdorf, Co-Founder and Managing Partner, YL Ventures has invested in ClickTale, Seculert, Upstream Commerce and BlazeMeter, among others (red our YL Ventures’ Tag). Ofer Schreiber, who has been with the firm for over three years (read our recent interview with Ofer here), has been promoted to Partner.