Team8, a VC firm focused on cybersecurity, said it has launched a new fund to invest in enterprise technology startups that focus on data, artificial intelligence and cybersecurity.
The new Team8 Capital fund will invest at Seed, A and B rounds of funding. According to an April filing with the US Securities and Exchange Commission (SEC), the fund has received investment commitments of $104 million, and according to industry estimates aims to reach up to $150 million.
Tech investor Sarit Firon, who has over 25 years of operational and investment experience in Silicon Valley, New York and Tel Aviv, will join as managing partner of Team8 Capital, and will work with managing partner and Team8 co-founder Liran Grinberg, the statement said.
Nadav Zafrir, a former commander of the Israeli army’s tech and intelligence Unit 8200, founded the Team8 VC fund in 2014 with 8200 veterans Israel Grimberg and Liran Grinberg. Team8’s strategic investors include Walmart, Microsoft, Cisco, Barclays and Moody’s, though the names of the investors in the new fund were undisclosed.