Crescendo Venture Partners seeks $100m for Israel-focused early-stage fund

Tel Aviv-based Crescendo Venture Partners has reached a first close for its debut early-stage VC fund, which aims to raise about $80-100 million.

The new fund expects to reach its final close in the first half of 2020, the firm said in a statement.

The fund will invest in Israeli software startups in fields such as big data, AI and machine learning with a focus on the theme of transforming traditional sectors such as agriculture, education, construction, healthcare and industry.

The fund began operations this year and has made its maiden investment in Lightico, an Israeli startup developing an automation solution for the last mile of the customer journey in contact centers.

Crescendo Venture Partners was founded in partnership with Switzerland-based Crescendo Group, which manages client assets in excess of $3 billion from offices in Europe, the US and Asia.

The firm is led by Zvi Schechter, Yuval Avni and Tal Mizrahi, formerly partners at Giza Venture Capital, together with Mark Kavelaars, managing partner and co-founder of 60-million-euro Spanish VC Swanlaab Venture Factory.

The partners together have over 75 years of experience in the industry, having invested in and supported companies such as Telegate, Cyota, Soluto, Beta-O2 and Israeli unicorn WalkMe.

“Despite the huge potential of startups in early stages, there is a gap between the financing needs of these companies and the amounts investors actually invest in this stage,” said Yuval Avni, managing general partner at Crescendo Venture Partners.

Zvi Schechter, another general partner, added: “We are currently riding on the positive momentum of the cycle for Israeli startups. We are constantly meeting with exceptional entrepreneurs with great ideas who can create a real transformation in a wide range of sectors of traditional industries in various sectors.”

Crescendo joins a number of new VC funds dedicated to the Israeli market in 2019, including Magenta Venture Partners’s $100-million vehicle launched in January and another $100-million fund focusing on food tech with participation from Finistere Ventures, OurCrowd, Tnuva and Tempo Beverages.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.