Moneta Venture Capital raises $120 million for new fintech and insurtech fund
Moneta Venture Capital announced on Wednesday that it has completed the first close of its fourth fund dedicated to investing in growth-stage fintech and insurance companies. The new fund will manage approximately $120 million and is expected to announce its first investment soon.
Moneta, managed by its founders, Adoram Gaash and Meirav Har Noy, has invested in over 30 companies to date, many of which have reached revenues in the tens of millions of dollars. Among the prominent companies in Moneta’s portfolio are: Railsbank, Panorays, TipRanks, Insurify, Rewire, Atidot and Human API.
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Adoram Gaash (left) and Meirav Har Noy.
(Karen Weintraub)
Israel’s largest payment company Isracard is an anchor investor in the new fund, and the investment continues the strategic collaboration with Moneta that began three years ago when Isracard invested in Moneta’s Seed fund.
Moneta was established in 2015 as the first fintech-focused venture capital fund in Israel. The fund’s strategy includes investments through two parallel funds: a seed fund and a growth fund. The funds operate independently, while benefiting from synergy and common domain expertise. The fourth fund is intended to operate in early growth stages (entry into rounds A and B), where capital is used to expand scale and increase revenue.
The initial closing of the fourth fund included most of Moneta’s existing investors from previous funds, including strategic partners from Israel and abroad in insurance, payments, wealth management, etc.
“The global crisis in the markets creates an optimal window of opportunity for venture capital investments. Such a period occurs once in a decade and we are pleased that we were able to raise another fund right now,” said Adoram Gaash, Managing Partner at Moneta . “The correction in the markets is manifested not only by a decrease in entry values, but more importantly, by a new mindset that prioritizes creativity and efficiency over the past years’ growth at all costs. We believe that the current period will be considered an excellent vintage year for VC -fund.”
Meirav Har Noy, Managing Partner at Moneta, added: “Our unique operating model, which some call VC 3.0, expresses a very high involvement of the fund’s strategic investors in the portfolio companies. The ability to connect ventures with customers and partners from the very first day , alongside the operation of a growth fund in parallel with the seed fund, are two cornerstones of our strategy and are the basis for the high success rates of the Moneta funds.”
