Menlo Park, California-based Fort Ross Ventures announced it has raised $235 million for an oversubscribed second fund. The fund is twice the size of its $110 million debut fund.
The firm said Fund II was finalized prior to the covid-19 pandemic. Fort Ross, which invests in start-ups in US, Europe and Israel, also announced it added as a partner Sharin Fisher, a former officer of Israel’s elite cyber-intelligence agency Unit 8200. Fisher will look at cybersecurity, SaaS, big data, artificial intelligence, and fintech start-ups and work out of the Tel Aviv office.
The firm said Fund II, which came $35 million over target, was fueled by its s recent exits, including Dynamic Yield (acquired by McDonald’s for $327 million), CoverWallet (acquired by Aon), and the IPOs of Uber and Tufin.
Source: Firm announcement