Boston-based Flint Capital has announced that it has closed its third venture capital fund for early-stage startups and a later-stage fund totaling $160 million. The funds were raised from IT entrepreneurs, including former portfolio founders, and are designed to help Israeli and European early-stage startups in cybersecurity, fintech, digital health, enterprise SaaS and B2C enter the American market.
“In our work with nearly 70 portfolio companies, we have seen an increasing demand for longer investment cycles and have launched an ‘Opportunity’ fund for late-stage companies in which Flint Capital had previously successfully invested,” said Sergey Gribov, Partner at Flint Capital. “This allows us to actively support our portfolio companies throughout their startup lifecycle.”
Flint Capital has previously launched two funds, the first of which has an IRR of around 25% and has three unicorns in its portfolio: Israeli company WalkMe (acquired by SAP), Socure and Flo Health. The firm has also invested in Israeli companies CyberX (acquired by Microsoft) and Voca.ai (acquired by Snap). The third fund will continue its strategy and invest in early-stage startups with experienced founders as well as Israeli pre-seed VC funds.
“Israeli entrepreneurs are some of the most resilient people in the world. Now more than ever, Flint Capital is committed to investing in the next generation of Israeli founders. Especially in these difficult times, we are committed to supporting Israel’s prosperity,” added David Feldman, Principal at Flint Capital and representative of the firm’s Tel Aviv office.
