State of Mind Ventures

State of Mind Ventures (SOMV) is a prominent Israeli venture capital firm based in Tel Aviv, specializing in early-stage investments within the deep tech sector. Founded by experienced professionals like Yuval Baharav, Pinhas Buchris, and Nimrod Kozlovski, SOMV primarily targets Seed and Series A rounds for B2B enterprise software companies. Their investment thesis centers on disruptive technologies across various domains, including cybersecurity, artificial intelligence, fintech, and cloud infrastructure, aiming to back companies with strong technological foundations and significant market potential.

Since its inception, SOMV has demonstrated a consistent growth trajectory in its fund sizes, reflecting increasing investor confidence and an expanding investment capacity. The firm successfully closed its first fund, State of Mind Ventures Fund I, at $75 million in 2017. This was followed by State of Mind Ventures Fund II, which secured $100 million in 2021, further solidifying their position in the Israeli tech ecosystem. Most recently, in February 2024, SOMV announced the closing of its third fund, State of Mind Ventures Fund III, raising an impressive $150 million. This brings their total assets under management to approximately $325 million across three funds.

SOMV's investment strategy focuses on providing substantial initial capital to promising startups, coupled with strategic guidance and network access. For their latest fund, State of Mind Ventures Fund III, the firm typically deploys initial investments ranging from $3 million to $7 million. This approach allows them to secure meaningful equity stakes and actively support their portfolio companies through critical early growth phases. The fund aims to invest in approximately 15 to 20 startups, indicating a selective yet impactful investment approach. Their commitment extends beyond initial funding, often participating in follow-on rounds to support the long-term success and scaling of their portfolio companies.