97212 Ventures

What an insightful panel discussion on how enterprises are using and buying Gen AI. Some of my takeaways from the evening:  The upcoming Nvidia earnings report is expected to shed light on the current state of #AI. #Startups are still struggling with the challenge of developing compelling use cases for AI. The focus should be on identifying and addressing the immediate pain points of customers… and in particular, Vertical AI. Industry-specific solutions seem to have an edge over horizontal AI platforms at this point in time. Privacy and data security are still big concerns for enterprises when it comes to AI. Startups need to pay close attention to data flows and the security of data, but unfortunately, many AI startups fail to launch due to these challenges. It's also important for startups to have a champion within the organization who can educate others about the benefits of their solution. While AI promised to lower costs through automation, the actual revenue savings from the use of OpenAI and Anthropic have been limited so far. What this means for startups is the need for them to focus on the customer's pain point and provide solutions that offer tangible benefits. As the AI landscape continues to change, startups which can effectively address these pain points could be well-positioned to succeed. I’m grateful to all the founders, investors, and ecosystem partners from NYC and Israel who joined us in person (and online) for an evening of learning and networking. Thank you to our speakers Daniel Chesley at Work-Bench, Tzveta Raynova, Enterprise Executive and former Director of Business Development at Comcast, Jordan Elkind from Blue Seedling.... and Tiernan Ray for moderating. A shout out to Netta Kivilis from Blue Seedling for collaborating with me, Anat Katz from the Israel Economic Mission to the USA - East Coast for attending, and Eyal Peled from Greenberg Traurig, LLP, for hosting this event. Looking forward to seeing what Israeli startups have in store once fall arrives in a weeks’ time! 97212 Ventures #venturecapital #nyctech #artificialintelligence

Today! Excited to co-host a panel discussion on how enterprises are buying and using Gen AI with my good friends Netta Kivilis and Eyal Peled. The event is SOLD OUT! We’re fortunate to have an amazing panel share their perspectives on the topic, and the panel includes Daniel Chesley at Work-Bench, Tzveta Raynova, an Enterprise Executive and former Director of Business Development at Comcast, and Jordan Elkind at Blue Seedling. The event will be moderated by Tiernan Ray, a tech reporter for ZDNET, and I expect a lively discussion on the evolution of Gen AI and the role it plays with enterprises. For those who cannot attend in person, you can join this important conversation via Zoom by clicking below, starting at 6:45pm ET. See you soon! 97212 Ventures #generativeai #nyctech #startupnation

Excited to partner with my good friend Netta Kivilis and Blue Seedling for an exclusive event at the iconic One Vanderbilt building in NYC. Blue Seedling + 97212 Ventures present: How enterprises are buying and using Gen AI As Gen AI is getting adopted more by larger enterprises, there are definitely some questions on how to sell to larger customers, what value they are looking for, and whether being a small startup is an advantage or disadvantage. We’re fortunate to have an amazing panel of #investors, executives, and domain experts share their take on the topic. Join us for thought-provoking conversations with like-minded #founders and professionals from the New York and Israeli tech communities. Make sure to register today as we have limited seats available. Daniel Chesley Tzveta Raynova Jordan Elkind #nyctech #venturecapital #generativeai

Creating new networks in a meaningful way, which provide value to everyone in the network, and yet still keep people engaged… is so hard to do these days. Which is why I’m so excited to be a part of the Israeli Tech Mission group, created by the amazing David Siegel, former CEO of MeetUp, and a person who takes the term “community” to a whole new level. Ever since we went on the mission to #Israel during December of last year, I’ve created very meaningful connections with like-minded professionals, who have become lifetime friends. We came together to show support for Israel, but at this point it’s so much bigger than that. Yesterday, we gathered at David’s lake house for some fun, relaxation, and meaningful conversations. Jumping in the lake was the highlight of the day. Just check out the smiles… If you’re interested in joining one of David’s #tech missions to Israel, just know that you’ll join an amazing community which I’m so proud and honored to be a part of. 97212 Ventures #communitybuilding #startupnation #nyctech

Last week I wrote about the $23 billion acquisition of Wiz by Google, and the massive impact it’ll have on Israeli tech. Just like the Waze acquisition by Google was a game changer a bit over a decade ago… But... a decade can make a big difference. While this is a very flattering offer, the founders and board decided to turn it down and literally hit it all the way out of the park… drive revenue to $1 billion in ARR and go for a massive IPO. So now... what does it mean for Israeli tech? Well, cyber will continue to be hot, and will drive more investments by local and foreign funds (which is not always the best thing as it drives valuations up unproportionally). In addition, this is an inspiring story for Israeli #founders looking to build big companies. Seeing fellow founders going all in, and knowing that the sky is truly the limit. As I mentioned in my previous post, this is a good time to be an Israeli founder. Keep innovating, and hustling… and good things will come your way. 97212 Ventures #foundersjourney #venturecapital #cybersecurity

Google’s record-breaking $23 billion acquisition of Wiz is a game changer for Israeli tech. This is not just a landmark deal for Israel, but a powerful statement by Google in supporting the Israeli tech ecosystem. This is huge news during regular times… not to mention during a time of war where many VCs and corporates are shying away from investing in Israel. It is the largest acquisition in Israeli history, and Google’s largest acquisition ever. Yes... EVER! Wiz was swinging for the fences from day one. The team scaled the business to $100 million in ARR within 18 months, becoming the fastest-growing software company ever. And yet… selling it for $23 billion at this point in time? This is a game changer.   I believe this acquisition signals a turning point for Israeli tech, and that this deal will undoubtedly have a ripple effect, encouraging more investment in Israeli startups. In a way, it reminds me of the acquisition of Waze by Google (do you see a pattern here?🙂) Outside of this being great news for Israeli #founders, it’s some good news for the people of #Israel, who after close to 10 months of war, get validation that the world appreciates Israeli innovation, and provides a sense of hope… We’re going to see tremendous momentum in the Israeli tech ecosystem going into the fall. It’s an exciting time to be an Israeli founder. 97212 Ventures #startupnation #venturecapital #israelinnovation

The conventional wisdom of avoiding #fundraising during the summer months is something that many Israeli founders grapple with. No doubt, summer is a slower time for many of us. But #VC is changing, and so are the norms around fundraising. While it's true that many #investors may be less active during the summer… it doesn't mean that all activity comes to a halt. I’d say that we’re as active as we’ve ever been, and I know that many other seed investors have the same mindset. We’re in the business of backing amazing founders year-round, and that includes the summer. That being said, for Series A or later rounds, it might be a good time to have your ducks in a row, so when you go for a full swing come September, you’re in a great position to close a round of funding. In the end, the “right” time to raise capital can vary greatly depending on the specific circumstances of each startup. Founders should focus on their company's needs, growth plans, and the readiness of their business to take on additional capital. Bottom line, the hustle never stops 😉 My friend Hadley Harris sums it up perfectly in his recent tweet here: https://lnkd.in/eJZGzbNX 97212 Ventures #venturecapital #mondaymotivation #foundersjourney

Let’s talk about intro calls over video (Zoom, Teams, etc.). I feel like these calls are becoming more difficult to handle for both #investors and founders. They lack the personal connection, and many times I come out of these calls feeling less excited about a company then when I was reading their deck… Stories, narratives, and personal connections matter a lot in today’s busy world! Here are some tips for #founders looking to truly ace an intro call with an investor (or a customer) via video: ⏰ Make the first few minutes personal. Be interesting, but more importantly, be interested... it’s about 2-way communication, not a monologue. Make the investor or customer interested in getting to know you, your product, and your company. 🎧 Listen! It’s easy to get lost on a video call… especially when you want to achieve so much in a short amount of time. Is there any feedback on the other side? Are there specific topics they are more interested in covering? Make it about the person on the other side. Not you.   ⁠ 👩🔬 Do your research. What were the last few investments of the investor you’re meeting with? Is there a particular technology your potential customer is interested in? Anything you can find on their website, social media, and the like, will help you come up with some points of interest and engagement. 👫 If you’re coming to the call with another colleague (co-founder, partner, etc.), make sure to be aligned on who is taking what parts. Make it collaborative. ⏭ Finish with action items. Questions like “what would be a good next step”, or "is there anything in particular you’re interested in that we can shed more light on” … something that helps move the conversation forward. If at all possible, try to move it to a face-to-face meeting. That is what I’d consider a win. Anything I missed? Happy to incorporate more suggestions as we’re all still trying to figure out the post-pandemic world. Let me know in the Comments section below! #venturecapital #foundersjourney #fundraising

There is no sugarcoating it. The last couple of years have been hard on Israeli tech, and both founders and investors are trying to sort out a very complicated reality. I’ve shared my take on the current situation with Sophie Shulman at CTech by Calcalist, alongside other top #founders and #investors. We share a similar passion for the continued success of Israeli startups, but also a real concern for how things are evolving, and the impact of the war on everything Israeli tech. Like many, I believed the war would end within a couple of months, but it is far from being over. This has clear implications on how VCs in the US look at investing in Israeli companies. It adds a new layer of uncertainty and risk. Hard to blame investors shying away from making bets on Israel now. But not all is gloomy. I truly believe that we’re seeing a new wave of #innovation that will ultimately create the next unicorns. And yes, Israeli founders are resilient and will get through this difficult stage. They have no other choice. To read the full article click here: https://lnkd.in/eg4Vwief Calcalist כלכליסט #israelunderfire #venturecapital #startupnation

LPs have lots of investment options these days. With the growing number of emerging funds, and high interest rates, LPs can sort through a variety of #investment opportunities. That means it’s all about making it easier for them to say yes, and be a real part of the fund. When speaking with LPs during the process of raising #capital, many mentioned that they don’t want to be an afterthought once the capital is committed. They want to be real partners.  For me, it’s not just about offering LPs favorable terms, but rather hooking them into the fund so that they feel they are more than just a “check”. As my friend Rosie Bradbury mentioned in her insightful PitchBook story… within the venture world, co-investing has taken off full steam. And for LPs flooded with the decks of emerging and established managers, “fee-free, carry-free co-investing” can get LPs over the finish line.   Co-investing has been an integral part of our model at 97212 Ventures. Our unique approach of offering co-investing rights on a no-fee, no-carry basis to our LPs has been well-received, with many of our LPs investing directly into some of our portfolio companies. It’s truly a win-win. A huge thank you to Rosie Bradbury for including my thoughts in this piece. #venturecaptial #investing #nyctech https://lnkd.in/eSRgA2mX