Hetz Ventures, a seed-stage VC out of Israel launched in 2018, has closed its third fund at $123 million. The new (described as “over-subscribed”) fund, Hetz III, brings the firm’s total assets under management to nearly $300 million.
Focusing on seed and pre-seed investments, Hetz has previously backed Granulate (acquired by Intel last month), Trigo, Retrain.ai, Blink Ops and Velocity.
In a statement, Judah Taub, managing partner at Hetz Ventures said: “Raising this fund is a testament to our hands-on approach and our ability to provide our portfolio companies with value far beyond financial investment. The Israeli ecosystem is evolving and maturing, with entrepreneurs moving away from quick exits and rising to the challenge of building companies that stand the test of time.”
The Hetz fund focuses on DevOps and dev tools, open source software, enterprise/data software, fintech and cybersecurity.
“With over $5 billion having been already raised by Israeli companies in Q1 of 2022, it is clear that the record-breaking investments of 2021 were not a one-off. Competition to invest in the best companies in the ecosystem — especially at seed stage — has never been greater,” added Pavel Livshiz, general partner at Hetz Ventures.