September 25, 2019 / 10:47 AM / a month ago

Israel's PICO Ventures closes $80 mln fund

JERUSALEM, Sept 25 (Reuters) - Israel’s PICO Venture Partners said on Wednesday it closed its second fund with $80 million in capital commitments.

Founded in 2015, PICO invests in early stage startups, managing $130 million in two funds.

It has already invested in 15 companies, including Vroom, an online platform for buying and selling refurbished pre-owned cars.

PICO also led an initial funding round in cloud automation firm Spotinst while also investing in Ravin.AI, which uses computer vision to detect and analyse vehicle damage via standard cameras. (Reporting by Steven Scheer; Editing by Tova Cohen)

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