Handelsman is the second partner in our venture capital fund who had established a multi billion-dollar company in Israel.
Grove Ventures’ investment team, which specializes in deep technology investments and partners with early-stage outstanding Israeli entrepreneurs with innovative technological ideas, is excited to announce that it is adding a new partner: Mr. Lior Handelsman, one of the founders of multi-billion dollar energy company SolarEdge (NASDAQ: SEDG)!
After being established in 2016 by managing partner Dov Moran, an entrepreneur, investor, inventor of the USB flash drive and one of the most prominent high-tech figures in the world, Lior is joining our team of Partners which includes Sigalit Klimovsky, Lotan Levkowitz and Omri Green.
In spite of the COVID-19 pandemic, 2020 marks a record year for the fund’s activities: we have already completed 4 investments in new companies and 6 follow-on rounds in its existing portfolio companies. In February, we announced that we had raised $123 million for our second fund, Grove II. This was followed by announcements on investments in Cloud management startup env0, and follow-on rounds in its existing portfolio companies including: Nucleai, an artificial intelligence cancer pathology and treatment company; Wiliot, a Fabless IoT semiconductor company also backed by Amazon, Samsung, and Qualcomm; RapidAPI, the world’s largest APIs marketplace and Andreessen Horowitz’s first investment ever in an Israeli startup who also received funding from Microsoft’s M12.
Other prominent companies in the our portfolio include Autonomous vehicle SWIR sensing solution company TriEye, which received additional funding from Intel, and collaborates with Porsche and Denso; NeuroBlade, which develops innovative AI chips; and 3DSignals, which helps manufacturers advance towards smart manufacturing through unique monitoring chips.
The fund continues to support and create value to its exciting portfolio companies and actively searches for exciting startup investment opportunities.
Handelsman served for more than a decade in diverse roles in the technological unit of the Israeli Intelligence Corps. Soon after completing his service, he founded SolarEdge together with four other unit members. Handelsman was amongst the leaders of the company’s technology development and led the company’s global sales and marketing operations, managing hundreds of employees. After 14 years at SolarEdge, Handelsman joins Grove Ventures bringing extensive business experience, rich multi-disciplinary technological understanding and product experience in various fields including hardware, chip and software development and cloud infrastructure.
“I am happy and excited to join Grove Ventures’ great team of partners. I have been an entrepreneur myself and had the chance to be part of a management team of a startup from its inception, until reaching IPO. I accompanied Grove Ventures as a Venture Partner for more than a year — and I saw how much it helps its founders and portfolio companies at the forefront of technology in Israel and around the world”
Lior Handelsman, Partner at Grove Ventures