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VC Fund Investing In Israeli Startups Raises $120 Million 

An Israeli-European venture capital firm that supports early-stage Israeli deep tech startups (based on scientific or engineering innovation) has raised $120 million for its second fund. Cardumen Capital, which invests in software and hardware companies, has doubled the amount raised for its first fund created in 2019. 

The company, which was founded in 2017 and has offices in Tel Aviv and Madrid, has to date invested in 32 Israeli startups specializing in fields such as AI, cybersecurity and big data. 

“We see a huge opportunity in the current market. We are actively deploying in what will probably be one of the best vintages of our generation,” said Nimrod Brandt, an investment expert and Cardumen Capital’s appointed partner in Israel. 

“Israeli entrepreneurs rise to the occasion under adversity,” said Cardumen Capital co-founder and general partner, Gonzalo Martínez de Azagra. 

“It’s in tough times when great companies are built. Our commitment to Israeli tech is stronger than ever. This commitment is reflected in our local team expansion,” he said. 

“As a team of Israelis and Europeans, heavily connected with the US and Asian markets, we are well-positioned to give our startups access to worldwide markets. We look forward to partnering with entrepreneurs and our fellow investors in 2024 and beyond.”