Globus has learned that US venture capital Merlin Ventures has set up a dedicated Merlin TLV fund to invest in Israel. The new fund will invest $ 50 million in Israeli cybersecurity startups over the next three to four years. Merlin Ventures is the venture capital arm of Merlin Cyber, which specializes in electronic solutions for US government agencies. Merlin Ventures in the past invested in three Israeli companies – Sepio, Cynet and Cyber Observer – but is now in the process of forming a special fund for Israel to be managed by Shai Michels and an Israeli venture capital fund to Die Ventures, which Michaels had founded. . Related Israeli cybersecurity company Cynet raised $ 18 million from Israeli cybersecurity firm Sepio Systems Cyber Observer raised $ 6.5 million Cyber Observer raised a record $ 2.8 billion in March to That Day Ventures made 10 initial and earlier interim investments in Israeli companies in the past three years. Michels told Globes that the new fund, Merlin TLV, will invest in rounds A and B with an average investment per company of $ 1-5 million. The goal is to invest in 10-15 companies over a period of 3-4 years. The fund is ready to lead investment rounds as well as to participate in others led rounds. Michels says the biggest advantage of Merlin TLV is its ability to help Israeli electronics companies sell to US government agencies. “Merlin was founded by David Phelps, who served in the US Navy and has a great deal of experience working with the US government and military agencies and in linking civilian technology to the federal administration,” he says. “Phelps is one of our investors in toDay Ventures, and this is how our relationship with him was born.” Merlin TLV announces that it will help Israeli startups negotiate the mandate for the Federal Risk Management and Authorization Program (FedRAMP), thus gaining access to public sector projects and clients in the United States. “Israeli companies tend to focus on the commercial market and basically seek to work with Fortune 500 companies. The public market in the United States is just the same size, and there are $ 200 billion in budgets on the table,” Michels adds. “Until now, Israeli startups have been afraid. Enter this world, but we can really take it out of our hands and help it. The way for Israeli electronic companies to achieve their sales goals is by working with the public sector in the United States. ” Posted by Globes, Israel business news – en.globes.co.il – April 1, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021
US VC Merlin Ventures forms an Israeli e-fund
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