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IN Venture company logo
Corporate Venture
FINANCE | Investment Firms & Funds
in-venture.com

Investments

10

Funds

1

About IN Venture

IN Venture is Israel's focused corporate venture capital arm of Sumitomo Corporation. Led by a team of Israeli and Japanese professionals, IN Venture invests in deep early-stage technology startups that have the potential to make a global impact while helping to transform Sumitomo Corporation’s diverse business activities.

Headquarters Location

Tel Aviv,

Israel

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Latest IN Venture News

Dear SaaStr: Can Founders Still Sell Some of Their Shares in Venture Rounds in 2023?

Jan 26, 2023

It’s a lot harder than it was 12 months ago. “Secondary liquidity” for founders is a fluid question and process. Up until say 2017–2018 or so, in SaaS, there was a rough rule: a relatively small amount of secondary liquidity ($1m-$2m) would be offered by growth investors in top VC rounds once a startup crossed $10m ARR or so. Generally, less than 10% of the total round might go to secondary liquidity. Get to say $15m ARR, growing quickly, raise a round at a $120m valuation, and founders might each take $1m as secondary liquidity. This all changed as venture markets for SaaS exploded from 2019-early 2022. Secondary liquidity creeped into every hot round as a way for even Series A investors to win deals. It became common at the peak of venture craziness in 2021 for even $1m ARR rounds to have some significant founder secondary if the deal was way oversubscribed. And we saw a series of $100m+ deals for founder secondary in hot decacorns. I'm all for founders selling in secondary to de-risk a little and make their lives easier…but ~$140MM?? 17%?? Realizing nine figures before profitability (and presumably long before employees can de-risk) feels very strange. pic.twitter.com/KAtZyyiGOP For now, the pendulum has swung back in tougher times. Founder secondary seems to have almost disappeared, as early-stage investors have backed away, and growth rounds are rare. The demand to buy founders’ shares at all but a handful of super-hot startups has waned. Growth investors are doing far fewer rounds, and are OK with secondary shares, but are demanding larger discounts with smaller sales. Having said all that, this is pretty different from PE-style buy-outs of profitable SaaS companies. This is what Atlassian and Qualtrics did, for example. They bootstrapped themselves to tens of millions in profitable revenue, and then sold a big chunk of founder secondary. You can see in our convo with Accel Growth (which led the investments in Atlassian and Qualtrics) saying they’d love to do more of these deals right now, they just can’t find them: A related post here :

IN Venture Investments

10 Investments

IN Venture has made 10 investments. Their latest investment was in Ottopia as part of their Series A - II on January 1, 2023.

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IN Venture Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/10/2023

Series A - II

Ottopia

$14.5M

No

4

10/25/2022

Seed VC

Bria

$10.5M

Yes

Entree Capital, IN Venture, and Undisclosed Angel Investors

1

8/10/2022

Series C

Detectify

$6.69M

Yes

2

2/17/2022

Series B

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$99M

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10

6/3/2021

Series C

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$99M

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10

Date

1/10/2023

10/25/2022

8/10/2022

2/17/2022

6/3/2021

Round

Series A - II

Seed VC

Series C

Series B

Series C

Company

Ottopia

Bria

Detectify

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Amount

$14.5M

$10.5M

$6.69M

$99M

$99M

New?

No

Yes

Yes

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Co-Investors

Entree Capital, IN Venture, and Undisclosed Angel Investors

Sources

4

1

2

10

10

IN Venture Fund History

1 Fund History

IN Venture has 1 fund, including IN Venture II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

8/1/2022

IN Venture II

$150M

1

Closing Date

8/1/2022

Fund

IN Venture II

Fund Type

Status

Amount

$150M

Sources

1

IN Venture Team

2 Team Members

IN Venture has 2 team members, including current Founder, Managing Partner, Eitan Naor.

Name

Work History

Title

Status

Eitan Naor

TEOCO, Magic Software Enterprises, YPO, Ectel, Amdocs, and Oracle

Founder, Managing Partner

Current

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Name

Eitan Naor

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Work History

TEOCO, Magic Software Enterprises, YPO, Ectel, Amdocs, and Oracle

Title

Founder, Managing Partner

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Status

Current

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