Firstime Venture, a Tel Aviv, Israel-based venture capital firm, held the first closing of its second fund, at $40m.
Firstime 2 fund – which has a final target of $60m – will focus on startups in the fields of internet and new media, reflecting the industry’s ongoing shift from communications and software to internet companies, concentrating on early-stage investments, post- seed and Round A rounds.
The firm’s first fund, Firstime 1 invested $60m in internet startups that now have an aggregate value of $360 million and have received follow-on investments totaling more than $100 million.
Its portfolio includes:
– Playbuzz, an open network for brands, publishers and marketers to create and share content;
– Talkspace, whose platform enables online and mobile psychotherapy for all;
– Pixellot, which provides automated sports broadcasting solutions productions;
– Brayola, an E-commerce marketplace for brass;
– Kidbox, whose monthly boxed delivery of selected children’s clothing comes with a matching donation to needy kids; and
– oggii, which monitors a dog’s movements to measure its overall health.
filling a crucial financing gap faced by many promising young startups.
Founded in 2014, Firstime Venture Capital is led by Ilan Shiloah, Nir Tarlovsky, and Jonathan Benartzi. The firm is part of TheTime Group, which also includes an internet and new media incubator that is supported by the Israeli Chief Scientist Office and invests in seed internet and new media companies.