Paul Sawers was a reporter with The Next Web in various roles from May 2011 to November 2014. Follow Paul on Twitter: @psawers or check h Paul Sawers was a reporter with The Next Web in various roles from May 2011 to November 2014. Follow Paul on Twitter: @psawers or check him out on Google+.
18 months after Magma Venture Partners raised a new $100 million fund aimed at early stage startups, the Israeli VC firm has announced its follow-up fund, this time weighing in at a chunky $150 million.
Magma has previously backed the now Google-owned Waze, as well as Onavo, Magisto, DesignArt, Provigent, Hola and others. Magma says its latest fund has received “strong interest”, and was oversubscribed within weeks.
Magma plans to invest “exclusively with Israeli entrepreneurs,” most of whom will be based in Israel. It expects to begin investing in early 2015, once its previous fund hits capacity. It will mainly cover seed and series A rounds, with typical investments of between $500,000 and $6 million.
Thumbnail Image Credit – Arif Ali/AFP/Getty Images
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