Sumitomo-backed IN Venture raises $70m for 2nd VC fund

• Published date: 03 August 2022
• Publication title: Globes (Rishon LeZion, Israel)

Naor says, "Companies were raising at crazy valuations, and everyone made profits on paper but now everything is going down and this is an opportunity to build companies properly and invest at normal values. We have made almost no investments over the past year because of this. Now that the market has returned to normality, valuations have been restored to a balance. The pricing has become logical, the market is back to normality and the entrepreneurs have also regained sanity."

IN Venture has a commitment from Japanese industrial giant Sumitomo Corp., which was behind the $100 million first fund. Naor and Rosen hope to complete the fund with investments from financial institutions in Japan and southeast Asia as well as institutional investors in Israel.

Naor and Rosen say that there have been good returns from the first fund...