Santa Monica, CA and Tel Aviv, Israel-based accelerator program Fusion closed its $20m fund.
The fund is backed by industry leaders, including global software investor Insight Partners, Gigi Levy-Weiss, Liad Agmon and Ofer Ben-Noon, among 70 other serial entrepreneurs and venture capitalists from Israel and the US. The fund’s special advisors include Daniel Shinar, Michael Ronen, Perry Wallack, Hagi Schwartz, Hemi Zucker, Clancey Stahr and Shani Zanescu.
Founded in 2017 by Guy Katsovich and Yair Vardi, Fusion VC invests in pre-seed startups built by Israeli entrepreneurs. The firm invests $150K in startups across verticals that are between the idea stage and the initial product/revenue stage. Its platform supports entrepreneurs targeting the American market- with California offices, as well as direct access and introductions to future investors, mentors, advisors and potential clients.
The fund has already invested in over 30 Israeli startups since its first closing last year. Fusion intends to remain the most active pre-seed platform in Israel targeting 60-80 new investments by 2026.
Twice a year, Fusion holds an intensive bootcamp in Tel Aviv with leading investors and entrepreneurs. After completing a two-month bootcamp, the participating founders fly to a three-week roadshow in Silicon Valley, New York and Los Angeles, where they meet American investors and mentors. Throughout the program, founders meet over 150 mentors from Israel and the US.
After completing the accelerator program, founders join Fusion’s alumni network which provides a broad platform of ongoing workshops and forums covering fundraising, management of a company/board in later stages, hiring, sales and partnerships. The program’s alumni network includes over 200 founders, who use supportive forums to share their dilemmas, lessons, and tools for leading a startup in uncertain times, overcoming obstacles and dealing with stress and anxiety.
Since 2017, Fusion has invested in over 100 startups through 12 cohorts, including Agora, DigitalOwl, Base.ai, Innplay Labs and Hoopo.
FinSMEs
01/06/2023