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Venture Capital
morevc.com

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Investments

59

Portfolio Exits

9

Funds

1

Partners & Customers

1

About MoreVC

MoreVC was established in 2006 to provide value-added growth capital to entrepreneurs building Israel's energy, water, and environmental technology. The fund has $75M under management and has completed investments in several cleantech sectors, including water, solar, biogas, energy storage, energy efficiency, transportation and green materials.

MoreVC Headquarter Location

34 Derech Jerusalem Gamla House, Bld B, 7th Fl.

Ra'anana, 4350108,

Israel

+972-3-644-6611

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Latest MoreVC News

Can ~100% More Ventures In Majority Black Areas Lead To Faster Economic Development?

Aug 8, 2022

Finance Secrets of Billion-Dollar Entre's (https://www.dileeprao.com/) New!Follow this author to stay notified about their latest stories. Got it! Got it! getty The good news: More entrepreneurs are starting ventures in majority black areas, according to a study by the Alliance for Entrepreneurial Equity . The study found a marked surge in entrepreneurial activity in areas with a majority of black residents. New business applications in majority black areas increased by 103% from 2019 to 2021 compared to 54% nationally, and were about 3.5 times higher in 2005. The study gives a number of reasons for this trend, including: · More government financing · More remote work potential, and · Higher local and regional support Is this good news? Some key questions include: MORE FOR YOU · Are these ventures being started out of need for more income during tough times or are they potential growth ventures? · If they are started out of need and do not lead to growth, will they be abandoned when the entrepreneurs find better options? · Can these ventures be the foundation for the development of growth ventures? · If they can be the foundation for growth ventures, what can be done to help them grow stronger and faster · And most importantly, can the long-term benefits of the growth accrue not only to the black entrepreneurs and their venture financiers but also to the majority black areas? If the increased number of entrepreneurs leads to higher income levels, increased net worth, and acts as a stepping stone to more growth ventures and more unicorns in majority black areas, this could be one of the most important trends in recent economic development, and perhaps one of the positive aspects of the misery of the last two years. But will it? And can it? Emil Ekiyor is one of the community developers who has grabbed this phenomenon and is working at developing ventures to accelerate economic productivity in black communities in Indiana . Ekiyor moved to the U.S. from Nigeria and became an NFL player. In the last few years, he has started the Innopower project in Indianapolis where he has organized programs that have helped 150 entrepreneurs in the U.S. and 350 in Nigeria. He has brought expertise, role models, and funding through a strategic alliance with the Minority Enterprise Institute led by current NFL athlete Jaylon Smith . He has found that in black communities, entrepreneurs are starting out of necessity to feed their families both in the U.S. and in Nigeria. It is not necessarily to build a unicorn and create wealth. Now he is focused on developing more unicorn entrepreneurs with a goal to generate wealth in black communities – not just to get out of poverty. The goal is to create an environment to create high-growth, scalable ventures and import wealth into black communities in the U.S. and in Sub-Saharan Africa by increasing the number of ventures that sell regionally, nationally, and globally. Here’s why. There are three principal business strategies to create jobs in an area and impact wealth creation. But only one makes a community richer : · Job Catalysts-Wealth Importers: These are mainly midsized to large businesses that sell to regional, national, and global markets, and import wealth into an area. But they often do not create many jobs because they need to be highly productive and labor-efficient if they are to be competitive on a global basis. · Job Creators-Wealth Circulators: These are mainly small businesses, often retail or service, which cater to local consumers who circulate the wealth generated by the Job Catalysts. They need the wealth importers and are usually more labor-intensive than capital-intensive. · Job Destroyers-Wealth Exporters: These are mainly product or service importers who may create jobs, but export area wealth generated by the Job Catalysts. These businesses need the Job Catalysts to generate wealth. By developing more Wealth Importers, economic developers in majority black areas can build on this growth of entrepreneurial activity and make it into the foundation for the creation of unicorns. To do so, they need to: · To develop unicorn-entrepreneurs, areas need to teach local entrepreneurs the skills that were used by unicorn-entrepreneurs to start and launch unicorns · To help launch unicorns, develop reverse-VC financing because VCs wait for Aha. Before Aha, VCs can point out the weaknesses and reasons why the venture may fail. After Aha, they show interest · Welcome VC funds as they follow the unicorn-entrepreneurs into majority black areas. VCs follow unicorn-entrepreneurs and finance after Aha! - entrepreneurs build the venture from idea to Aha! But the danger to attracting VC is this – if VC exits are via strategic sales of the ventures to larger corporations outside the majority black areas, these ventures may leave the area and future benefits accrue to the VCs and the entrepreneurs – but not to area residents? VC needs to be brought in where the black entrepreneurs stay in control of the venture and hopefully keep the venture in the area. To do this, we may need a new kind of VC fund that helps the venture grow but keeps local control . MY TAKE: The Alliance for Entrepreneurial Equity article notes that “it will be critical to address the structural inequities that hold people of color back from growing and scaling their ventures.” Absolutely. The mistake that people have made is to introduce VC without teaching skills. That would be a huge mistake. Hopefully, this time will be different.

MoreVC Investments

59 Investments

MoreVC has made 59 investments. Their latest investment was in Vayyar as part of their Series E on June 6, 2022.

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MoreVC Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/6/2022

Series E

Vayyar

$108M

No

4

5/11/2022

Seed VC

Sunday Security

$4M

Yes

3

1/27/2022

Series A

Vanti Analytics

$16M

No

8

11/17/2021

Seed VC - II

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$99M

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10

11/2/2021

Seed VC

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$99M

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10

Date

6/6/2022

5/11/2022

1/27/2022

11/17/2021

11/2/2021

Round

Series E

Seed VC

Series A

Seed VC - II

Seed VC

Company

Vayyar

Sunday Security

Vanti Analytics

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Amount

$108M

$4M

$16M

$99M

$99M

New?

No

Yes

No

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Co-Investors

Sources

4

3

8

10

10

MoreVC Portfolio Exits

9 Portfolio Exits

MoreVC has 9 portfolio exits. Their latest portfolio exit was Freightos on May 31, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/31/2022

Acq - Pending

$99M

6

2/28/2022

Acquired

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$99M

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10

5/5/2021

Acquired

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$99M

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10

1/17/2019

Asset Sale

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$99M

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10

1/26/2018

Acquired

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$99M

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10

Date

5/31/2022

2/28/2022

5/5/2021

1/17/2019

1/26/2018

Exit

Acq - Pending

Acquired

Acquired

Asset Sale

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

6

10

10

10

10

MoreVC Fund History

1 Fund History

MoreVC has 1 fund, including ICV III Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

ICV III Fund

$20M

3

Closing Date

Fund

ICV III Fund

Fund Type

Status

Amount

$20M

Sources

3

MoreVC Partners & Customers

1 Partners and customers

MoreVC has 1 strategic partners and customers. MoreVC recently partnered with Google on October 10, 2015.

Date

Type

Business Partner

Country

News Snippet

Sources

10/25/2015

Partner

United States

Israel-Calif Green-Tech Partnership launches at Google – Israel Cleantech Ventures

In addition to Donig and Talberth , the partnership 's steering committee includes David Arfin , CEO of First Energy Finance ; Jonathan Axelrad , partner in the global law firm DLA Piper ; Gil Abrams and Harold Wienerof Terra Venture Partners ; Avi Feldman , CEO of renewable energy investment firm Capital Nature ; Google design and construction integrator Andreas Gyr ; Jack Levy , Israel Cleantech Ventures partner and founder ; Aaron Tartakovsky , cofounder of Epic CleanTec ; Roy Wiesner , CEO of Hutchison Kinrot ; Lyuba Wolf of ChargePoint ; and Glenn Yago , senior director of the Milken Innovation Center at the Jerusalem Institute for Israel Studies .

1

Date

10/25/2015

Type

Partner

Business Partner

Country

United States

News Snippet

Israel-Calif Green-Tech Partnership launches at Google – Israel Cleantech Ventures

In addition to Donig and Talberth , the partnership 's steering committee includes David Arfin , CEO of First Energy Finance ; Jonathan Axelrad , partner in the global law firm DLA Piper ; Gil Abrams and Harold Wienerof Terra Venture Partners ; Avi Feldman , CEO of renewable energy investment firm Capital Nature ; Google design and construction integrator Andreas Gyr ; Jack Levy , Israel Cleantech Ventures partner and founder ; Aaron Tartakovsky , cofounder of Epic CleanTec ; Roy Wiesner , CEO of Hutchison Kinrot ; Lyuba Wolf of ChargePoint ; and Glenn Yago , senior director of the Milken Innovation Center at the Jerusalem Institute for Israel Studies .

Sources

1

MoreVC Team

4 Team Members

MoreVC has 4 team members, including current Founder, Founding Partner, Glen Schwaber.

Name

Work History

Title

Status

Jack S Levy

Founder

Current

Glen Schwaber

Jerusalem Venture Partners, and Jerusalem Global Ventures

Founder, Founding Partner

Current

Meir Ukeles

Founder

Current

Lila Frenkel

Chief Financial Officer

Current

Name

Jack S Levy

Glen Schwaber

Meir Ukeles

Lila Frenkel

Work History

Jerusalem Venture Partners, and Jerusalem Global Ventures

Title

Founder

Founder, Founding Partner

Founder

Chief Financial Officer

Status

Current

Current

Current

Current

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