Grove Ventures, an early-stage venture capital firm headquartered in Tel Aviv, announced on Thursday it has closed 'Grove III,' a $185 million fund that will partner at with "exceptional" Israeli entrepreneurs at an early stage.
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Grove Ventures says the fund focuses on partnerships with founders who are building the Deep Future – with an emphasis on tech and science innovations in areas like edge computing; cloud infrastructure; data infrastructure and management; developers' tools and software; DevOps; AI and automation.
With the announcement, Grove Ventures will have close to half a billion dollars under management. So far, its thesis has been enacted in the investments of over 24 companies including Wiliot, RapidAPI, ActiveFence, Lumigo, Metrolink, Navina, env0 and CommonGround. Grove III will also invest in early-stage (Pre-Seed, Seed and Series A) Israeli startups.
Grove Ventures' partners published a joint statement, saying: "We are excited to announce Grove III. We thank our LPs on their trust and for the opportunity to support the next generation of companies that will propel the technological leaps forward and digitalization processes to power the future of the world … We work to be a home for Israeli founders who build significant technological innovation and infrastructure and create game-changing companies."
