DLD Ventures Invests in Israeli Start-up Fund lool
Further activities in the start-up hub Israel planned
MUNICH, January 28, 2013 /PRNewswire/ --
DLD Ventures, the investment arm of Burda Digital GmbH, has invested in Israeli venture capital fund lool ventures L.P., and is one of the fund's key investors. Other lool investors include major institutional Israeli and international investors as well as seasoned business angels and entrepreneurs.
Tel Aviv-based lool ventures focuses on investments in early-stage disruptive Israeli digital start-ups serving global markets. The portfolio includes both direct investments in companies as well as the incubation of own ideas and the set-up of start-ups. Among the current investments: Tonara, a tablet App revolutionizing the sheet music industry, the Wibbitz text-to-video service, the Zooz mobile payment service, as well as MyPermissions, a program to administer the access of Apps and services to personal information.
Markus Scheuermann, Managing Director DLD Ventures: "Our investment in the venture capital fund lool enables us to indirectly invest in promising early-stage start-ups with convincing, innovative business models. We are planning to step up our activities in the technology growth market Israel in the future."
lool founders Avichay Nissenbaum and Yaniv Golan have previously established successful companies themselves; they have a proven track record as both serial entrepreneurs and successful angel investors and are well immersed into the Israeli start-up scene with access to numerous, exciting new ventures.
Avichay Nissenbaum, General Partner lool ventures L.P.: "DLD Ventures' decision to invest in lool ventures is another validation to our strategy and model. We are excited with this strategic partnership and are looking forward to leverage DLD Ventures' and Hubert Burda Media's unparalleled expertise in the European and international technology space and their extensive portfolio of online media properties. They are an important international investor with great expertise in technology and in online trends."
At over 4000 startup companies, Israel has a concentration of high-tech enterprises that is only surpassed by Silicon Valley, California. A truly digital nation, Israel ranks third in the number of NASDAQ-registered companies, following the USA and Canada.
About DLD Ventures
DLD Ventures aims to identify and develop new, successful digital business models. It invests in companies in the business-to-consumer market that show synergies with the existing portfolio. DLD Ventures is a holding of Burda Digital, a fully-owned subsidiary of Hubert Burda Media. Managing Directors of DLD Ventures are Dr. Jörg Lübcke and Markus Scheuermann.
For further information please contact:
Hubert Burda Media
81925 Munich, Germany
SOURCE Hubert Burda Media
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