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VC firm YL Ventures launches $400m fund to back Israeli cybersecurity startups

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Israeli-American VC firm YL Ventures announced the launch of a new fund on Tuesday, the company’s fifth, to back Israel’s cybersecurity sector.

The $400 million fund will be used to lead seed rounds into about three startups per year, and invest in follow-on rounds, the firm said.

YL Ventures said the oversubscribed fund was “the largest seed-stage cybersecurity-focused fund ever raised.”

The firm’s portfolio companies include cybersecurity unicorns Axonius and Orca Security, as well as Twistlock (acquired by Palo Alto Networks), Medigate (acquired by Softbank-backed Claroty), Hexadite (acquired by Microsoft) and FireLayers (acquired by Proofpoint).

“For the past 15 years, our primary priority has been providing our portfolio companies with everything they need from the very beginning in order to break into the global market,” said Yoav Leitersdorf, managing partner........

© The Times of Israel

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