Angular Ventures, a VC firm that’s been silently operating across Tel Aviv, London, and New York, has announced the closing of its debut fund, $41 million for early-stage deep tech enterprise companies growing from Europe or Israel. The firm reports its first-ever fund was oversubscribed by 64 percent, exclusively from commercial LPs who are interested in sector-specific investments.
Angular was founded in May 2018 and, during its period of “stealth mode," has built a portfolio of 12 companies from Israel, the UK, Finland, Romania, and other countries. Its founder and managing partner, Gil Dibner, wanted to create a firm that focuses on a single sector, rather than any geographic boundaries, and grows startups through rapid US expansion. The firm invests early, anywhere from day one to Series A, with cheques ranging from $250,000 to $1.5 million.
Dibner commented: “Our LPs have given Angular the green light to invest anywhere in Europe and Israel. This broad geographic mandate coupled with our specific industry focus and long track record in enterprise tech investing provides Angular Ventures with a distinct sourcing advantage: for example, we recently backed Valohai, a Finnish company building a version control platform for AI/ML. As part of our due diligence process, our network of domain experts also assessed eight competing companies spread across Israel, UK, Poland, and the Nordics - something no other VC was able to do. We selected Valohai’s Finnish team for their team, product offering, revenue, and clear roadmap towards global category leadership.”
Of the $41 million in the new fund, over 50 percent comes from the US, and 74 percent of the capital base is institutional, including two US-based endowments, several leading fund-of-funds, and sophisticated family offices from around the world.