Israel-based investment group Singulariteam launched its second fund yesterday, having secured $102m from backers including internet portal Tencent, social network Renren and businessman Kenges Rakishev, also a managing partner.
Founded in 2012, Singulariteam bills itself as a ‘super angel investor’ and looks to fund advanced technology such as robotics, augmented reality, financial technology, internet and mobile technology.
Singulariteam provided funding to 12 companies from its first fund, and said its second fund has already invested in six.
Moshe Hogeg, managing partner and founder of Singulariteam, said: “We are looking for companies that dream big and will bring significant change to the world. Promising companies with a good idea and great people.
“We want to give these companies the conditions they need: funds, professional service, guidance, and any possible synergy with our existing portfolio – so that they could focus on creating meaningful value, put their hearts into their work and achieve great success. We are not your typical VC – we are also entrepreneurs, and as such, we don’t simply invest, but rather, create ideas and companies.”