Firstime VC News
6 articles
Non-dilutive credit solution targets deep-tech and sustainability companies.
Firstime Credit, a new non-bank credit operation launched by Firstime Ventures, aims to provide non-dilutive financing to high-tech companies in the energy, environment, and sustainability sectors. The initiative, led by Yoni Ophir, offers a project financing model based on projected revenue streams rather than equity rounds. This approach targets startups with technological maturity and significant revenue potential, providing loans ranging from $10 million to $100 million. Firstime Credits first deal involves a $60 million financing for STAX, a California-based company developing emission capture technology. This initiative fills a critical funding gap for startups requiring substantial infrastructure investment, offering an alternative to traditional venture lending. The firm collaborates with banks, institutional investors, and private backers, acting as a technology and credit evaluator.
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VCs Talk: An interview with Itamar Weizman Partner & Head of Climate Tech at Firstime Ventures
Firstime Ventures, led by Itamar Weizman, is focusing on climate tech investments, having shifted from general VC investing to a thematic approach. The firm has invested over $50 million in the past three years, targeting technologies that address climate change and offer profitable business opportunities. Notable portfolio companies include BeeHero, which enhances global pollination, and Triple W, which converts food waste into lactic acid. Firstime collaborates with other VCs and investors to enhance investment outcomes. Despite challenges in Israel, the firm remains optimistic about future opportunities in the climate tech sector.
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https://readtheimpact.com/the-fund-investing-in-israeli-founders-fighting-climate-change/
Firstime announces $100 million climate-tech fund, backed by Jonathan Kolber
Firstime, an investment fund, has launched a new fund focused on climate tech and has already made two investments in BeeHero and Hygieia. The fund aims to raise over $100 million and has raised $50 million to date. The funds investment strategy aligns with the United Nations sustainable development goals (SDGs). Firstime plans to invest $100 million to support Israeli tech entrepreneurs in addressing the climate crisis. The new fund will invest in companies that advance the UNs SDGs and focus on developing trailblazing technologies in healthcare, education, and work. Investor Jonathan Kolber has joined the fund. The launch of the fund is seen as a growth-positive move for Firstime.
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Harness Israeli tech to meet climate crisis
Firstime Venture Capital founder Jonathan Benartzi argues that tech investment has a large role to play in combating climate change. The article discusses the growing importance of addressing the climate crisis and the need for venture capital funds to modify their investment strategies to align with the current challenges. It emphasizes the potential for the climate technology domain to make a breakthrough and create a carbon net-zero world. The article also highlights the lack of meaningful tools and support from the Israeli government to encourage technological development for dealing with the climate crisis. Firstime Venture Capital has established a $100 million fund focused on the Sustainable Development Goals set by the United Nations.
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"The Israeli tech sector mobilized to battle Covid-19, but the government failed to enlist it"
Firstime, a VC firm, is raising its third fund with a strategic focus on advancing entrepreneurs and enterprises that offer solutions to climate change and digital healthcare, work, and education. The firm has accompanied Talkspace, an online therapy services company, through all its stages and expects significant returns from its upcoming Nasdaq IPO. The article discusses the decline in investments in Israeli early-stage companies and the need for more capital and government assistance. It also highlights the disparities between the tech sector and other sectors of the economy. The founding partner of Firstime, Jonathan Benartzi, expresses concern about the future of early-stage companies and emphasizes the importance of professional leadership and political involvement in addressing these issues.
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