Arizona-based VC fund to increase Israel investments

(December 29, 2022 / JNS) Despite the tech slowdown, Arizona-based venture capital fund Singularity Capital will increase its investments in Israel. According to Globes, this new development was revealed during a recent visit to the Jewish state by Singularity’s managing partner Sudeep Mishra.

“The visit to Israel has been enlightening for me and the fund,” said Mishra. “We had the opportunity not only to meet inspiring entrepreneurs, but also to meet senior leaders of the Israeli ecosystem.”

Singularity’s tech fund totals $25 million, and launched activities in Israel in 2019 through focusing on early-stage startups. The fund has usually invested up to $500,000 in software solutions that have already proven their effectiveness. Its current aim is to invest up to $10 million in Israel.

Mishra’s visit was arranged through Singularity’s connection with the BDO accounting firm. The visit’s aim was to expose Singularity’s tech fund to dozens of Israeli startups that work with BDO in various stages. The visit itself was organized and led by the head of BDO’s U.S.-Israel desk Tomer Nitzan, BDO business development manager Noya Rozenberg, and Singularity Capital chief investment officer Nitsan Naidorf.

“Volatility in the markets and the tech market in particular have caused a fall in value of existing companies and have affected the valuation process for early stage companies,” said Nitzan. “In other words, early stage companies trying to raise funds must raise according to lower values than they are used to.” Nitzan went on to say that investors who “sit on the fence” will miss out on opportunities.

Singularity Capital currently has $2 billion in assets under management.