Israeli maritime-focused VC theDOCK’s new fund hits first close, makes debut bet
The leadership team of theDOCK
Israeli venture capital firm theDOCK, which focuses on maritime technology companies, has made a first close of its second fund at $10 million and disclosed its first investment from the new vehicle.
The Navigator II fund will focus on early-stage startups developing technologies in sectors like ports, shipping, supply chain, and offshore sectors and targeting both Israeli and international companies, theDock said.
The VC firm said that it will aim to reach the final close of $30 million by the end of 2022.
The fund attracted both strategic and financial Limited Partners. These include global terminal operators, Greek ship owners and managers, Israeli maritime services and logistics operators, a UK-based fund of funds, and high-profile individuals from the maritime sector. The VC firm didn’t reveal the names of any LPs.
theDOCK was founded in 2017 by Hannan Carmeli and Nir Gartzman. The VC firm says it works with a global network of accelerators, tech hubs, the Israeli Innovation Authority to promote innovation in the maritime sector.
The second fund announced its first investment, in ASIO Advanced Control Solutions. ASIO is an early-stage startup specialising in visual data analysis systems using a proprietary artificial intuition technology that can be applied in ports in place of standard camera systems.
The VC firm had raised its first pre-seed fund in 2018. It has already deployed the fund to back eight startups such as Orca AI, WAVE BL, DockTech, AiDock and ArcusTeam.
In its second fund, theDOCK will scout for investments in seed to Series A rounds.
“The importance of maintaining a smooth and nimble, yet resilient, supply chain is clear today more than ever,” said Hannan Carmeli, theDOCK’s co-founder and managing partner.
“This makes the fund attractive to strategic investors who are determined to up their game by introducing digital innovation to their business, as well as to financial investors who seek returns in an emerging sector,” he added.
