Access Partners Raises $18 Million for New Venture Capital Fund
Access Partners has raised $18 million in three months, backed by Mor, Profit Finance, and the Shestovitch Group. Founded by FAI executives, the fund invests alongside major VCs in growth tech companies.
A new venture capital fund named Access Partners has raised $18 million in just three months, with prominent financial institutions and private investors backing the initiative.
Strategic Backers and Investments
The fund was established by senior executives from the financial management firm FAI, including Itzik Lev, Aviad Shorok, and Dana Alexandrovich. Mor Investment House and Profit Finance served as the primary investors and strategic partners, contributing $4 million and $2.1 million respectively. In addition, the Shestovitch Group invested $3 million, alongside private investors from the technology sector. Profit Finance manages over 100 billion shekels in client assets, while Mor participated through its investment arm.
According to Itzik Lev, demand from investors exceeded the initial fundraising target, leading the fund to hold a final closing after only three months rather than expanding further. FAI provides outsourced financial management services to startups and growth companies, effectively acting as their internal finance department.
Investment Model and Strategy
Access Partners leverages the existing relationship between FAI and the technology companies it advises. While traditional venture capital funds typically encounter a company during a targeted fundraising process, FAI professionals are often familiar with the enterprise and its financial activities long beforehand. The fund aims to utilize this familiarity to identify sought-after companies and participate in funding rounds led by major venture capital firms.
«We manage the companies' finances, know them inside out, and help them prepare materials and presentations for investors. When major funds are interested in investing and oversubscription occurs, we receive a small allocation and join alongside them», Lev explains.
Access Partners will not lead investment rounds on its own. The fund plans to invest between $500,000 and $1 million per company, operating alongside international funds leading the rounds. It will focus on enterprises managed by serial entrepreneurs with proven track records of prior success. Even prior to completing the fundraising, the fund executed five investments through a temporary mechanism in companies whose rounds were led by firms including Lightspeed and Insight Partners.
Governance and Considerations
While the connection to FAI constitutes the fund's primary advantage, it also necessitates strict governance regarding the use of sensitive financial data, obtaining proper corporate consent, and managing potential conflicts of interest. The fund asserts that prior familiarity allows it to base decisions on long-term financial performance rather than solely on pitch decks and point-in-time due diligence.
The fund's investment committee includes Ofir Ehrlich, founder and CEO of Eon and former Waze executive; Einat Gzez, co-founder and CEO of Papaya Global; Nitzan Shapira, co-founder and CEO of Harmony; Ron Arbel, founder and CEO of Aryon Security; and Amir Elichai, founder of Carbyne, which was acquired by American company Axon.
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