New Venture Capital Fund Access Partners Raises $18 Million in Record Time

Access Partners, a new venture capital fund established by senior executives from FAI, has successfully closed its fundraising round at $18 million, achieving this in under three months. This rapid fundraising pace, without a preliminary 'First Closing' stage, significantly surpasses the typical 15 to 18 months required for establishing an investment fund in the local market. The fund's investors include the Profit Finances group, which manages over 100 billion shekels and is a partner in the fund's establishment, the Mor Investment House, and private investors.

Access Partners' unique model leverages FAI's existing operations, which provides CFO as a Service to approximately 250 startups. This integration grants the fund's managers access to real-time financial data of companies before investment decisions are made. Instead of relying solely on presentations and periodic financial checks, the fund can continuously monitor key metrics such as growth rate, cash burn, fund utilization, and operational structure. The fund also emphasizes early familiarity with entrepreneurs, existing investors, and the companies' business conduct.

Itzik Lev, co-CEO and founder of FAI and Access Partners, highlighted the advantage of this model, stating that the fund invests with full knowledge of the companies it supports financially through FAI. This internal financial insight allows for a deeper understanding of growth, cash burn, and fund allocation. Access Partners' investment strategy will focus on serial entrepreneurs and companies with proven viability, aiming to invest alongside larger venture capital funds that will lead the investment rounds.

The fund also integrates with Owlytic, an AI-based technological hub launched by FAI, designed to consolidate financial systems and data. This synergy between technology and the fund's operations is expected to enhance company and performance analysis. Key figures behind the fund include Itzik Lev, Aviad Shurak (formerly of The Founders and FAI), and Dana Alexandrovich (formerly of Swish Ventures and Microsoft). The investment committee features prominent industry names such as Ofir Erlich (Waze, EON), Einat Gaze (Papaya Global), and Nitzan Shapira (Harmony).

Completing this fundraising in a challenging investment market underscores the fund's achievement. Access Partners aims to differentiate itself from traditional venture capital funds through its combination of real-time financial data, AI technology, industry experience, and institutional backing.