J-Ventures plans deep-tech fund linking Silicon Valley, Israel and Korea
Managing partner Oded Hermoni told ZDNet Korea the new fund will target AI infrastructure, semiconductors, robotics, quantum and cybersecurity, and will open to institutions for the first time.
J-Ventures, the Silicon Valley-based early-stage venture capital firm, is building a new deep-tech fund aimed at connecting Israel, Silicon Valley and South Korea, according to co-founder and managing partner Oded Hermoni. Hermoni gave an exclusive interview to ZDNet Korea during a visit to South Korea.
He said the fund will focus on AI infrastructure, semiconductors, robotics, quantum technology and cybersecurity. For the first time, the vehicle will be open to institutional investors and family offices.
Korean venture firm Rabbit Ventures is an LP partner of J-Ventures, and J-Ventures is in turn an LP of Rabbit Ventures. J-Ventures also held a conference in South Korea during Hermoni's visit.
J-Ventures was founded in 2018 and manages about 110 million dollars across four funds. It has made more than 50 investments, and five portfolio companies have reached unicorn status, including DataRobot, valued at 6.3 billion dollars, StoreDot at 3.5 billion dollars, Yotpo at 2 billion dollars, NeuroDerm at 1.3 billion dollars and Outbrain at 1 billion dollars.
Its Fund III closed at 37 million dollars, 48 percent above its target. Portfolio companies have raised about 2.5 billion dollars in follow-on rounds, according to the firm.
Quick answers
What will J-Ventures' new deep-tech fund invest in?
AI infrastructure, semiconductors, robotics, quantum technology and cybersecurity, according to Oded Hermoni.
Who can invest in the new J-Ventures fund?
The fund will for the first time be open to institutional investors and family offices.
How large is J-Ventures today?
It was founded in 2018, manages about 110 million dollars across four funds and has made more than 50 investments.