#Fundlaunch is your quick dose of notable startup fund launches. Investors covered in this segment include Dav Moran and Eduardo Saverin
Dav Moran Sets up $100M VC Firm To Invest in IOT, AI and Cloud Computing Startups
Jerusalem: Dav Moran, one of the Israel’s successful pioneers has cofounded a $100 million VC fund to invest in local startups working in the field of cloud computing, the internet of things and artificial intelligence.
Dov Moran’s company M-Systems invented the USB stick and expanded the use of flash memory that today drives most electronic devices, is the managing partner of Grove Ventures, which on Thursday announced an initial closing of $30 million.
The fund quoted that it is backed by global investor base from Japan, China, Taiwan, Europe , Israel and the United States , including strategic entities and financial investors.
“Our experience enables US to support entrepreneurs and early stage startups during their inception period and guide them through their growth to become global market leaders,” said Moran. Read More
Facebook Co-founder Eduardo Saverin Starts B-Capital to Invest in Asia Startups
Singapore City: The Facebook co-founder Eduardo Saverin has already been a prominent investor in Asia but his spending is about to increase significantly after a new fund he is heading up made its first close. Saverin has started B Capital, which in-turn has closed an initial $143.6 million according to media reports.
In a letter to “friends of B Capital”, Saverin and Raj Ganguly ( prominent investor who worked with Saverin on his previous Velos fund) wrote that the first close has seen the fund pull in nearly 60 percent of its target money — that means it is likely to close out just shy of $250 million once fully stocked. Read More