Magenta Venture Partners, a VC firm with Israeli and Japanese partners, has announced a new fund targeting $100 million. The fund saw an initial closing back in 2018 and is expected to be finalised by the end of this year.
Magenta plans to invest in early-stage startups from Israel or related to the country in a wide range of domains, including automotive, mobility, AI, smart cities, Industry 4.0, enterprise software, and fintech. The firm is an equal partnership between Mitsui & Co. Ltd., a large trading and investment company from Japan, and two Israeli VC veterans Ori Israely and Ran Levitzky.
“Our name Magenta is a blend of blue and red – the colours of the Israeli and Japanese flags,” Israely said. “Our fund is financially focused, but we look to invest in startups that not only look for capital but also seek value driven by the team’s experience in Japan, the EU, and the USA. We also leverage our investors to analyse and validate investments, assist the portfolio, and help all the startups we engage during this process.”