Blockchain
F2 Doubles Down on Israeli Founders with $250m in New Funds and a New Partner
F2 Venture Capital doubles down on Israeli tech founders at their earliest stages, having raised $250 million in new funds and appointed Maor Fridman as a Partner.
Tel Aviv, Israel–(Newsfile Corp. – July 5, 2022) – Today, F2 Venture Capital has announced its third seed fund of $150 million for Israeli founders building moonshot companies as well as its Select Fund to continue backing existing portfolio companies, bringing their new funds to $250M and total funds under management above $400M. F2’s areas of focus include Fintech, AI, Big Data, Cloud Ops, and Cyber, with an emphasis on companies pioneering new categories.
(from right) Noa Matz , Jonathan Saacks, Maor Fridman, and Barak Rabinowitz
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“Over the last 20 years, we have navigated through multiple market conditions, like the world finds itself in today. Some of our best investments emerged from times like this,” said Jonathan Saacks, Managing Partner at F2. “We are excited by the high potential opportunities we see in the Israeli ecosystem.”
To support their growth and focus on founders establishing deep-technology companies, they have promoted Maor Fridman to Partner. Fridman was previously a software engineer at Intel and Amazon Web Services (AWS) where he led cutting-edge projects in technology innovation. At F2, he has been a driving force in investments such as Justt, Parametrix, Astrix, DreamTeam and other companies still in stealth mode.
“Maor is radically founder-focused and has excelled as a VC in record time,” says Barak Rabinowitz, Managing Partner at F2. “Given his deep tech background and passion for business, he is the ideal partner for our new funds and growth.”
F2 Fund III is a step-up from its previous funds of $60 million and $75 million, launched in 2017 and 2019 respectively, as F2 has established itself as one of the most active seed investors in Israel, building on the momentum of category leaders the team previously backed like Monday.com, and eToro.
“Now is the time to double down on bold founders. This not only includes funding but more importantly support with sharpening products and technological moats, building strong leadership, and ultimately finding the product-market fit and go-to-market strategy,” said Maor Fridman, newly appointed Partner at F2.
To support founders on their journey F2 has built several value-add platforms. The Junction is one platform developed by F2 that has become an institution in the local ecosystem. The Junction is F2’s pre-seed investment program that helps founders achieve technological, product, and business milestones in an accelerated time frame. Dating back to 2011 under their previous fund, Genesis Partners, The Junction has launched hundreds of companies including Honeybook, Appsflyer, Coralogix, Databand and CyberX with a community of hundreds of founders who “pay it forward” to the next generation.
Another value add is F2’s emphasis on high performance teams, with a dedicated partner Noa Matz having developed operational playbooks for startup psychology, coaching founders through the pressures and tradeoffs at the initial stages of company building – especially relevant in current market conditions.
F2 is the fund behind category leaders like Explorium, Justt, Parametrix, 4M Analytics and Dataloop, among others, and is now actively investing in a new generation of winners.
About F2:
F2 Venture Capital is a Tel Aviv-based VC firm that invests in early-stage technology companies on the cutting edge. Our team members have been investors, operators, and engineers in startups and multinational giants that changed the game over the last twenty years. With $400 million under management and personalized support, F2 powers visionary founders on their bold missions. F2 also operates The Junction, Israel’s premier pre-seed investment platform, to back founders with guidance, network, and capital from day zero. For more information please visit: https://www.f2vc.com/
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Press Contact:
Yaffa Abadi
Head of Content
F2 Venture Capital
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130001
Blockchain
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Blockchain
Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest
Venture capital funding for cryptocurrency and blockchain projects has seen a notable resurgence in the first quarter of 2024, marking its first quarterly rise since 2021. Crunchbase data released today indicates that Web3 startups secured nearly $1.9 billion in funding across 346 deals during this period. This represents a substantial 58% increase from the previous quarter, offering a glimmer of hope amidst the ongoing downward trend in overall crypto VC interest.
The recent surge in funding can be attributed to investors adopting a more long-term perspective on Web3, as opposed to the hype-driven “tourist investors” predominant in recent years. Chris Metinko, the author of the report, notes that investors are shifting their focus to the AI sector, indicating a change in investment strategy. There is a growing interest in supporting the foundational infrastructure of the decentralized internet, rather than solely concentrating on crypto wallets and lending platforms, which attracted significant investments during the peak period of 2021 to 2022.
While large funding rounds were relatively uncommon in Q1, several notable investments stood out. Exohood Labs, a company integrating AI, quantum computing, and blockchain, secured a remarkable $112 million seed round at a valuation of $1.4 billion. EigenLabs, an Ether token “restaking” platform, raised $100 million in a Series B round led by a16z crypto. Additionally, Freechat, a decentralized social network leveraging blockchain technology, secured $80 million in a Series A round. These investments, among others, contributed to the increase in valuations and the emergence of four new Web3 unicorns in Q1.
Despite the recent progress, the future trajectory of Web3 remains uncertain. Metinko suggests that the next few quarters will be pivotal in determining the industry’s direction. While investors anticipate a rebound in investment as the decentralized internet evolves, it may take another year for venture capital activity to stabilize after the exuberance of 2021. Factors such as the approval of U.S. spot Bitcoin exchange-traded funds and the upcoming Bitcoin halving could also influence the market, given the rising prices of Bitcoin and Ether.
A noteworthy example of significant funding in the Web3 space is Monad Labs’ recent successful funding round, which secured $225 million led by Paradigm. Monad Labs is a layer-1 blockchain compatible with Ethereum, offering faster transaction processing. This funding round harkens back to the golden era of crypto funding in 2021-2022, when L1 solutions attracted substantial investments.
Earlier this year, Balance, a digital asset custodian based in Canada, announced that it had once again reached $2 billion in assets under custody (AUC) amidst the recent market recovery. Similarly, Korea Digital Asset (KODA), the largest institutional crypto custody service in South Korea, has experienced remarkable growth in crypto assets under its custody, expanding by nearly 248% in the second half of 2023.
Analysts at Bernstein Research project that crypto funds could reach an impressive $500 billion to $650 billion within the next five years, representing a significant leap from the current valuation of approximately $50 billion. This forecast underscores the growing optimism and potential for substantial growth within the crypto industry in the coming years.
Source: cryptonews.com
The post Web3 Startups Raise Nearly $1.9B in Q1 2024 Despite Overall Downtrend in Crypto VC Interest appeared first on HIPTHER Alerts.
Blockchain
ASIC cracks down on blockchain mining firms
Three blockchain mining companies – NGS Crypto, NGS Digital, and NGS Group – along with their directors, Brett Mendham, Ryan Brown, and Mark Ten Caten, are facing legal action from the Australian Securities and Investments Commission (ASIC) for allegedly operating without a license, in violation of Australia’s Corporations Act. ASIC initiated legal proceedings against these entities on April 9, citing concerns about their non-compliance with financial regulations and their solicitation of Australian investors.
According to ASIC, the NGS companies promoted blockchain mining packages with fixed-rate returns to Australian investors, encouraging the transfer of funds from regulated superannuation funds to self-managed superannuation funds (SMSFs) for conversion into cryptocurrency. Approximately 450 Australians invested a total of around USD 41 million in these packages, raising concerns about potential financial losses.
The legal action filed by ASIC alleges that the companies violated section 911A of the Corporations Act, which prohibits companies from providing financial services without a valid Australian Financial Services Licence (AFSL). ASIC is seeking interim and final court orders to prohibit the NGS companies from offering financial services in Australia without an AFSL.
ASIC Chair Joe Longo emphasized the importance of investors carefully considering the risks before investing in crypto-related products through their SMSFs. Longo stated that ASIC’s actions send a message to the crypto industry about the regulator’s commitment to ensuring compliance with regulations and protecting consumers.
In a separate development, the Federal Court appointed receivers for the digital currency assets associated with the NGS companies and their directors to safeguard these assets amid concerns about the risk of dissipation. Mendham was also issued a travel restriction order, preventing him from leaving Australia.
While a court date for the proceedings has not been set, ASIC’s investigation is ongoing, with the regulator continuing to gather evidence and build its case. It is worth noting that the investigated companies share a similar name with NGS Super, a legitimate Australian pensions provider, leading to potential confusion among investors. NGS Super clarified that it is not involved in selling cryptocurrency or related products and has taken legal action to protect its trademark and members’ interests.
Source: iclg.com
The post ASIC cracks down on blockchain mining firms appeared first on HIPTHER Alerts.
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