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June 4, 2020 10:38 am

Israel’s Team8 Launches VC Fund to Invest in AI, Cybersecurity

avatar by Reuters and Algemeiner Staff

Derek Vadala, the chief executive of a joint venture between Moody’s Corp and Israeli cyber group Team8, and Nadav Zafrir, CEO of Team8, smile during an interview with Reuters at a cyber conference at Tel Aviv University, June 25, 2019. Photo: Reuters / Corinna Kern.

Israeli cyber group Team8 said on Wednesday it launched Team8 Capital, a new venture capital fund that will focus on technology investments in data, artificial intelligence (AI) and cybersecurity.

Team8 Capital will invest at the seed and other early rounds of funding, expanding on its model that builds new companies from scratch, it said.

A creator of cyber defense startups, Team8 is backed financially by Moody’s Investors Service and other companies like Microsoft, Airbus, Qualcomm, Walmart, Cisco and Barclays.

Team8 has received commitments of $104 million for the fund, according to a US Securities and Exchange Commission filing.

Sarit Firon will be managing partner of Team8 Capital.

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