JERUSALEM, Sept. 12 (Reuters) – Stardom Ventures VC Fund announced on Sunday that it has closed a $ 65 million fund intended to invest in media-focused Israeli tech startups.
Stardom was initially launched in 2016 as a corporate VC within the Keshet Group, one of Israel’s largest media companies, with Dick Clark Productions with the aim of expanding further into the US market. It became an independent fund last year.
Danny Peled, managing partner of Stardom, said that as a member of Keshet – whose Channel 12 is Israel’s largest commercial channel – the fund previously invested in nine startups, three of which have already seen exits.
The remaining six companies have moved from Keshet to Stardom and Peled said the fund recently made three more investments and two more termsheets have already been signed. In total, Stardom has so far invested around $ 10 million.
“The plan was to have 16 additional companies, which means four new investments each year for the next four years,” Peled told Reuters. “Right now we are running at a faster pace than we expected.”
The fund targets startups that deal with video, ad technology, content such as games and social platforms, marketing and data and commerce, he said.
Keshet created the Prisoners of War show in 2010, which was later sold to Showtime in the US and became the Homeland show, with Keshet as executive producer.
Reporting by Steven Scheer
Our Standards: Thomson Reuters Trust Principles.
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