Serial technology investor Josh Liberman, who has previously backed local star performers including Seek and Canva, is turning up his focus on the vibrant Israeli tech scene with a new $US100 million ($140 million) venture capital firm, he says will give Australian investors access to its cutting-edge tech companies.
Mr Liberman, a member of Melbourne’s wealthy Liberman family – which also includes his cousin, Square Peg Capital co-founder Justin Liberman – is forming Lumir Ventures, as a partnership between his eponymous Josh Liberman Investment Group and Tel Aviv-based venture capital firm 10D.
The new Israel Tech Fund 1 currently stands at about $US80 million, with a significant personal investment from Mr Liberman, money from Spotlight Group Investments and a mix of unnamed large Australian family offices and high-net worth investors.
Mr Liberman told The Australian Financial Review he had kicked off the capital raising process in October 2021 and had raised more than $100 million by the end of the year. It is aiming to close the fund at $US100 million ($140 million) in the next few months.
He said Lumir’s strategy would be to focus exclusively on Israeli start-ups due to his own past success in investing in the market and the resulting network of local investors and entrepreneurs he had developed.