YL Ventures, the Silicon Valley venture capital firm specializing in seed-stage investing in Israeli cybersecurity startups, recently announced it has closed its fourth fund with $120 million of committed capital. The latest fund brings YL’s total capital under management to $260 million, the company said.
Generally investing in only two to three startups each year, the new fund will target a total of 10 companies. YL Ventures invests in seed-stage startups, often further investing in its portfolio companies at later stages. Co-investors include leading US venture capital firms such as Bessemer Venture Partners, US Venture Partners, ICONIQ Capital, and TenEleven Ventures.
The fund is headed by Silicon Valley-based Managing Partner Yoav Leitersdorf. “As with previous funding efforts, the YLV IV fund will be extremely selective, investing in only the most promising Israeli startups tackling the biggest cybersecurity challenges facing the industry,” said Leitersdorf. “We then go the extra mile to make our portfolio companies successful, nurturing nascent technologies and products, and leveraging our hard-won network of CISOs and C-suite executives in the US.”
YLV has invested in 16 companies to date, eight of which have been successfully acquired. Prominent exits include Twistlock (acquired by Palo Alto Networks), Hexadite (acquired by Microsoft), BlazeMeter (acquired by CA), and FireLayers (acquired by Proofpoint).
The current YLV portfolio includes Karamba Security (embedded security for connected systems); Axonius (cybersecurity asset management); Medigate (cybersecurity for medical devices); Vulcan Cyber (continuous vulnerability remediation); Hunters.ai (AI-powered autonomous threat hunting) and the most recent one, Orca Security (full-stack cloud security visibility), founded by the former CTO of Check Point Software.