Grove Ventures raises $30 mln toward $100 mln venture fund

Grove Ventures has raised $30 million toward a $100 million first venture fund, according to a filing with the SEC.

The Israeli firm is run by Managing Partner Dov Moran, credited with inventing the USB memory stick. Formed last year (according to CrunchBase), its partners include Guy Resheff, formerly at Tallwood Venture Capital, Sigalit Klimovsky and Lotan Levkowitz.

Its focus is cloud, big data and the Internet of Things, according to the firm’s website.