97212 Ventures

Sharing some thoughts from my visit to Miami for the recent Tech & Invest conference hosted by Calcalist ???????. 2024 has been an interesting year for the venture scene in both the US and Israel. There’s still a lot of capital looking for great companies. This is good news for Israeli founders, and we’ve seen more #founders leave their “comfortable” job/life and go back to following their entrepreneurial dreams. I couldn't be more excited about that. Maybe… just maybe… 2025 is the year of back to normal for us all. 97212 Ventures CTech by Calcalist #startupnation #venturecapital #2025goals https://lnkd.in/gxecqU3m

Recently I spoke with my friend Jonathan 'Yoni' Frenkel about the current landscape of the Israeli tech scene as we’re headed towards the end of 2024. ? What’s been clear is that Israeli founders know how to make lemonade out of lemons. We know that resilience and adaptability define Israeli founders. Whether it's adjusting team dynamics, pivoting product strategies, or rethinking business models, they've continued executing at a high level. I know this is true because I’ve seen firsthand the progress that many of our companies at 97212 Ventures have made this past year. Not all has been perfect, but progress has been made. As we look towards 2025 post-US elections, other questions are coming up. Will the IPO market be more active? Will M&A deals go back to normal? Is funding for both VCs and startups going to get a bit easier to close? We will know in the coming months. Yet, some aspects of startup life will remain the same - being resilient, adaptable and scrappy. As we continue to build our portfolio at 97212 Ventures, we are eager to connect with more like-minded founders. If you’re working on something new, reach out to me directly! #startupnation #2024goals #venturecapital

The sunshine state is a second home for many New Yorkers ?? Excited to be participating in the Calcalist Tech and Invest Miami conference next week, alongside some of the brightest founders and investors from Israel and the US. With the pandemic being a pivotal moment, Miami's tech scene is tremendously growing, with the city's ecosystem offering a number of opportunities for Israeli startups and investors. Calcalist ??????? led by my friend Noa Tamir has done an incredible job in promoting the Israeli ecosystem on a global scale, with a particular focus on being a bridge for Israeli startups to the US market, and I'm excited to support their work. If you’re a local Israeli founder based in Miami, reach out to me directly, I’d love to connect with you during my time at the conference. I also have a few extra tickets for #founders, in case you’re around ?? See you in Miami! CTech by Calcalist 97212 Ventures #startupnation #venturecapital #miamitech

The Israeli tech sector accounts for 20% of the country's economic output, and continues to attract #VC investment… despite the war, the Israeli tech train keeps moving. But... is it sustainable? From the outside looking in, many saw #Israel as the golden child over the past 10 years… but now, there’s doubt it’ll continue. Yes, cyber and AI continue to attract capital, including foreign money, but it comes at a cost. Many VCs are asking founders to move to the US quicker, hire more in the US vs. in Israel, and to do whatever it takes to lower the risk. Early-stage startups are finding it harder to secure investments, and the war has disrupted operational continuity for many companies. Yet, hard times create big companies, and the challenges Israeli founders are faced with today will pave the way for a new wave of successful companies in the future. Where do we go from here? Israeli founders have demonstrated extraordinary resilience, but the path forward is uncertain… 97212 Ventures PitchBook #startupnation #israelunderfire #venturecapital

Rebranding is always a difficult task for a startup. It’s also a sign of maturity, fast growth, and recognition. Our portfolio company Beti has gone through this process over the past few months, as they scale the business in the US and globally. They are now BiltOn. Congrats to the team! Alongside this rebranding, the team has successfully secured $15 million in Series B funding to help enhance construction operations & risk management software, and reduce insurance claims. The round was led by PSG Equity, with participation from Titan Capital Partners and 97212 Ventures. 97212 was the first investor in the company, and we’re so proud to be a part of the company’s journey as they develop into a market leader in the general construction industry. Omer Slavin Shir Mautner Dekel Schwarzmann Asaf Guter Ronen Nir Lior Barak Daniel Ben-Amram Ben Topor Calcalist ??????? CTech by Calcalist #venturecapital #nyctech #foundersjourney https://lnkd.in/eJrBHWM3

My daughter just started high-school this year, so it’s inevitable that we’re starting to think about college. Many of our friends are going through the college application process with their kids now, and they can’t complain enough about the high tuition, and other costs related to sending their kids to college (average is around $80K-$100K per year). Check out this stat about unicorns founded by founders receiving their undergraduate degree outside of the US. Not surprisingly, the top 3 non-US schools are all from Israel: 1?? Tel Aviv University: 28 founders 2?? Technion - Israel Institute of Technology: 26 founders 3?? The Hebrew University of Jerusalem: 21 founders The cost for an Israeli citizen to attend these schools is about $4K-$5K per year. That’s around 5% the cost of going to school in the US! Even if you joined one of the international programs at these schools, you’d pay a fraction of the cost compared to the US. So... if it gives you the same shot of building a unicorn, why don’t more kids go to college internationally? After all, the world is global and many value the experience of being away from home. One thing is for sure, the drive of Israeli #founders, combined with their high level of education will continue to drive success and create more Israeli unicorns. Mark my words :-) (A big thank you to Rubén D. for sharing this information, and to Ilya Strebulaev for compiling this data.) #startupnation #mondaymotivation #venturecapital

Shameless self-promotion alert ?? It’s quite hard for fund managers to talk about their fund, but in today’s busy market it’s part of the game... For me, it’s always about letting #founders talk about our work rather than us praising ourselves. Recently, I got the chance to chat with Pulse 2.0, where I had the opportunity to discuss 97212 Ventures, our mission, and our commitment to investing in top early-stage Israeli startups with a New York state of mind. At 97212, we’re all about moving early-stage Israeli #startups from zero to one, while working hard with Israeli founders on building their businesses in the US and unlocking their full potential. It’s a long journey, and we love being there at the earliest stages to help founders crawl, walk, and run. More about the evolution of our fund, and what makes us tick below. #foundersjourney #venture capital #nyctech

OpenAI, fresh off a $6.6B funding round, is expanding its footprint with a new outpost in NYC. This move signifies the growing potential for #AI startups in the city. For Israeli #startups looking to land in New York, this is an opportunity to be aware of. Attracting a global giant like OpenAI reinforces New York’s status as a leading hub for prime tech talent. This is yet another big moment for NYC tech. It almost reminds me of the time Google expanded to the city back in the day. A real game changer - more great talent flocking to the city, more (empty) offices being filled, more events, happy hours, etc. New York offers a diverse talent pool, proximity to customers, and a thriving tech ecosystem. This is a real opportunity for Israeli startups to leverage those opportunities in order to drive growth and make their mark on the global tech scene. 97212 Ventures #venturecapital #generativeai #nyctech

October 7, 2024. A year full of pain... of courage... of sorrow... and of hope. Still, it's so hard to believe that it's been a year since the unbelievable and unbearable attack by Hamas on Israel, and on humanity. October 7th is Israel's September 11th. But with one very big difference... it feels like that many in the world are supporting the wrong side. The side of the terrorists. For me, that's one of the most devastating results of this terrible war. Israel is not free of mistakes. Our government is not helping our cause given how radical many of its members are. It should be replaced ASAP. And yet... if you believe in democracy, kindness, freedom, innovation... if you believe in peace... come and help us build a better world. Because if we learned anything from the terrible events of October 7th, it's that we can't take anything for granted anymore. #october7th #israelunderattack #israelunderfire

I had a totally different post for Rosh Hashanah ready to go yesterday… and then, it became completely irrelevant... Thanks to Iran and its vicious missile attack on Israel. As we head to our dinner table this evening to celebrate Rosh Hashanah and the Jewish new year, many thoughts are crossing my mind... I think about the wide-reaching impact of October 7th on the world we live in, and how devastating it is for so many people in Israel and the entire Middle East. I think about the hostages and their families. The young people losing their lives at the Nova music festival… and our brave soldiers protecting our country. And yes…. the suffering on the other side as well. The saying “we live in an imperfect world”, couldn’t be truer now. But I’m also optimistic about the future, and grateful for the unconditional trust and support I’m getting from the 97212 family - our amazing LPs, our resilient founders, my phenomenal partners who I learn from every day, and our entire tech ecosystem. If we needed any more proof that Israelis, and Israeli founders in particular are made differently, we saw it in full display over these past 12 months. The future is bright, and there is no doubt in my mind that we’re going to see a lot of new innovation and a ton of success stories forming over the coming years. Technology will keep moving forward... But it’s the level of execution that separates Israeli startups from the rest of their peers. They excel at that. With the Jewish new year upon us, I wish everyone a year of peace, a year of health, success, creativity and new beginnings. I can’t wait to back more Israeli founders as we continue to build 97212 Ventures from the ground up, and hope for better days for all of us. Shana Tova. #newyear #israelunderfire #venturecapital