|By PR Newswire||
|November 12, 2012 07:06 AM EST||
TEL AVIV, Israel, November 12, 2012 /PRNewswire/ --
Glilot Capital Partners, an Israeli-based fund focused on early-stage companies in the security, Internet and mobile markets, today announced the successful closing of a $30 million fund. The capital was raised from leading institutional and private investors in the United States, Europe and Israel. The Fund began operations in early 2011 after an initial closing.
Glilot expects to invest its fund in approximately a dozen early-stage Israeli startups. The fund was founded by Kobi Samboursky, Arik Kleinstein, Sallai Meridor, Aaron Abramovitch and former US Deputy Secretary of Defense Gordon England. Samboursky and Kleinstein, who serve as the fund's managing partners, have vast entrepreneurial experience in founding, managing and successfully exiting startups, prior to which they both served as officers in the R&D unit of the IDF Intelligence Corps. Glilot is committed to assisting its portfolio companies get to market quickly and achieve revenues and profitability in a short time frame, according to Kleinstein.
"We are pleased to have met our higher fundraising target for Glilot's first fund," said Samboursky. "We are now focused on recruiting the best early-stage companies in Israel, as well as assisting our current portfolio companies to grow and achieve market leadership. Our investment philosophy is to seek out brilliant entrepreneurs with breakthrough technology, who are committed to finding the quickest time to market." The fund will only invest in companies to which it believes its partners can bring clear and immediate added value, he added.
"In these days of global uncertainty, we're very glad that we managed to fully raise the amount we aimed to raise at the outset. We are excited to work with entrepreneurs that demonstrate both a deep understanding of technology as well as strong business capabilities. Over the past year, we've met hundreds of entrepreneurs and we have been impressed with their professionalism and caliber," said Kleinstein.
Glilot provides its portfolio companies with seed and early-stage capital, as well as business support to accelerate their success. The partners chose to focus on the fields of software, cyber-security and Internet, areas in which Israel has shown technological leadership and business acumen. Israel is well-positioned to become a global leader in the field of cyber-security, in particular, Samboursky added.
To date, Glilot has invested in three Israeli startups:
- LightCyber, a developer of solutions to identify and prevent cyber-attacks and advanced persistent threats. For more information: http://lightcyber.com/
- Porticor, a developer of cloud security and encryption solutions. For more information: http://www.porticor.com/
- Insightera, a developer of real-time B2B marketing software and technology tools to optimize website performance. For more information: http://www.insightera.com/
About Glilot Capital Partners
Glilot Capital Partners offers seed and early stage investments as well as the support, guidance and network of contacts of its experienced principals; accelerating the success of promising Israeli startups in the areas of software, cyber and IT security, Internet, and mobile applications. For more information, please visit http://www.glilotcapital.com or visit Glilot on Facebook: http://www.facebook.com/glilot.
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SOURCE Glilot Capital Partners
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