Key Takeaways
- Sector: Aerospace & Defense, Artificial Intelligence (AI), Technology Software & Gaming.
- Geography: Israel, United States.
Analysis
TBD VC, a new early-stage venture capital firm, has announced the launch of a $35 million fund dedicated to supporting Israeli deep tech startups at the pre-seed and seed stages. The firm plans to invest in approximately 20 companies, focusing on sectors including enterprise AI, cloud infrastructure, cybersecurity, and software-enabled defense technology.
The inception of TBD VC was sparked by a chance encounter between co-founders David Citron and Alan Buch at the Zikim crossing near the Gaza Strip in December 2023. Citron, serving as a reserve combat paramedic in the IDF's 401st Armored Brigade, met Buch, a New York-based venture capitalist delivering supplies to soldiers. This unexpected meeting led to the formation of a partnership aimed at fostering innovation within Israel's tech ecosystem.
David Citron brings over a decade of venture capital experience, having invested in numerous Israeli startups across various sectors, including cybersecurity and enterprise software. His notable investments include CyberX (acquired by Microsoft), Voca.ai (acquired by Snap), and Flow Security (acquired by CrowdStrike). Alan Buch complements this with his background in global wealth and alternative investment management.
TBD VC’s investment strategy involves leading pre-seed rounds with approximately $1 million checks and participating in seed rounds alongside other investors. The fund is backed by a mix of institutional investors, family offices, and successful technology entrepreneurs from both Israel and the United States.
In addition to financial backing, TBD VC is committed to social impact. The firm has pledged to donate a portion of its profits to organizations that assist discharged Israeli soldiers in building careers in the tech industry.
The launch of TBD VC's fund comes at a time when Israeli tech companies are achieving significant milestones, such as Wiz’s recent $32 billion acquisition by Google. By focusing on early-stage investments, TBD VC aims to nurture the next generation of Israeli deep tech startups, providing them with the resources and support needed to succeed on a global scale.