After posting our Early Stage Deal Term Report we decided to dive deeper into one of the companies that caught our attention. Beepi is the first and only 100% online peer-to-peer marketplace to buy or sell a car. According to their website they “…take up to 9% of all transactions. To put that number in perspective: dealers mark cars up to 54%. [They] are able to offer low prices because [they] connect buyers and sellers directly and don’t have overhead like salespeople or physical lots…”. Beepi has raised north of $57M based on regulatory filings and we valued them at $166 M post-money after their Series B round. You can see the investment profile below.
Guest Post by Marianna Shapira, Research Manager, IVC Research Center
2014 VC fund raising reaches $914m – most in 6 years
- Four VC funds raised more than $100 million each, accounting for 64% of total
- Average fund size of $76 million is up 55% from previous year
- Only 3 micro-VCs established, compared with 7 in 2013
Tel Aviv, January 14, 2015. In 2014, 12 Israeli venture capital funds raised $914 million, the most raised by Israeli venture capital funds in six years. The year’s fund raising was up 68 percent from the $544 million raised by 11 VC funds in 2013, and was 18 percent above the 10-year average of $777 million.
Four veteran Israeli VC funds managed to raise more than $100 million each and accounted for 64 percent of total capital raised in 2014. Carmel Ventures’ fourth fund attracted the largest amount – $194 million, while Magma raised $150 million for its fourth fund, less than two years after closing its previous $110 million fund. JVP made a first closing of $160 million of a targeted $180 million for its seventh fund. In addition, Vintage’s seventh fund, a fund of funds, attracted $144 million, 50 percent of which is being allocated to Israeli investments.
The average fund size in 2014 reached $76 million, 55 percent above 2013’s $49 million average, and up 46 percent from the $52 million of 2012. The increase reflects the raising of more medium sized funds and fewer micro VC funds than in each of the previous two years.