Eyal Bino and partner Sharon Mirsky have launched Accelerant Ventures to invest in Israeli technology startups based in New York City, VentureBeat reported.
Accelerant seeks opportunities in startups that focus on services, mobile, software and security. The microfund intends to invest anywhere from $500,000 to $1million in early to late-stage tech startups, the report said.
Bino, a native of Tel Aviv who formerly served on the secretive signals intelligence Unit 8200 of the Israeli Defense Forces, seems to have found New York City to be the perfect place for Accelerant. There are over 200 Israeli startups that have made the metropolitan area of the Big Apple their home. He told VentureBeat in an interview, "I figured there had to be a way to create an ecosystem here for the best startups with great technologies, to take advantage of the local community of Israeli investors and mentors here in New York and help them incubate the dream."
Accelerant is gearing itself for its fundraising efforts. It is already on the road to raising $5 million by June this year with a $10 million round expected to happen in December. With Israeli startups, venture capitalists and private equity investors heavily immersed in the tech scene, Bino is confident that capital can be found in NYC, the report said.
Although Accelerant marks Bino's first fund, he is apparently making a lot of headway mainly by using his linkages and daring, among others. He said, "We just want to tell the world that we're here and that we want to make a statement."
One of the reasons why Bino will cater only to Israeli startups is because Israeli entrepreneurs strive to really go for what they want and the fact that they want to see their fellow countrymen also make it to the US. Among the startups on Accelerant's radar for a possible backing include Choozer, Bizzabo and Fireblade, the report said.
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