Kumra Capital has raised the largest fund in its history and manages more than half a billion dollars with the completion of the Qumra III fundraiser. One of the partners in the fund tells what their conditions for investment are and what they are looking for from startups
The Israeli venture capital fund Qumra Capital (Kumra Capital) announced today (Wednesday) that it has completed the raising of a third fund, which will be called Qumra III in a very original way, in the amount of $ 260 million. The fund will be used for further investment in companies in growth stages.
“Looking for entrepreneurs who we believe have the potential to lead huge companies”
Erez Shachar, a partner in the Kumara Foundation says In conversation with Giktiim Because most fund investors are investors from Comrades 1 and 2 funds. In addition, several top institutional investors from the United States, Europe and Japan joined. The third fund was joined as investors by a large number of successful Israeli CEOs and entrepreneurs, some of them from Kumara’s current and past portfolio companies. With the completion of the third fundraiser, Kumara’s assets under management stand at more than half a billion dollars.
Shahar said the new fund, like its older sisters, is designed to invest in accelerated growth stages. According to him, among the conditions that will put you on Comra’s sights in terms of investment are: minimum sales of about $ 10 million a year, accelerated growth rates, and management and an entrepreneurial team that is interested in and able to build large and independent companies.
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“We see ourselves as the natural partners of teams in their journey from $ 10 million in sales to over $ 100 million. About half of our existing portfolio companies have already passed the $ 100 million mark, and the others are on their way there, “Shahar added. He added that all the fund’s portfolio companies are managed by the entrepreneurs and this is something that the fund strongly believes in: “Naturally we are looking for entrepreneurs that we believe have the potential to build and lead huge companies.”
What are the goals of the fund?
“Since the establishment of Kumara, we have set ourselves the goal of helping to build large and independent companies in Israel, which are leading the global market in their field. We have always believed that there are the capabilities here, but the ecosystem required for this was not developed. Today, seven years after the foundation was established, we see the vision coming true before our eyes. “
And how does the foundation work in the days of Corona? According to Shahar, this is one of the busiest periods they have experienced. “Our portfolio companies, for the most part, grew at an accelerated pace during this period, and we invested a lot of time in working with the companies. At the same time, we enlisted Comra III, the largest foundation in our history during the Corona period. “All fund raising is done without zoom in on face-to-face meetings with investors,” he said.
The Kumara Foundation was established in 2014 and is led by Boaz Dinti, Erez Shachar, Sivan Shimri Dahan and Daniel Slutsky. To date, Kumara has invested in 15 Israeli growth companies, including Fiverr and JFrog, which are listed on the American Stock Exchange; And at Riskified, AppsFlyer, JoyTunes, IntSights, Minute Media, Guardicore talkspace and more.