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FinTLV Ventures, managed by Gil Arazi, Avishai Silvershatz, Gilbert Ohana, and Mark Chess, has started a second investment fund for startups in the fintech and insurtech sectors, and is currently raising $120 million, half of which from Israeli institutions and the other half from overseas investors. Clal Insurance Enterprises Holdings Ltd. has invested $35 million in the new fund and led the round alongside Psagot Investment House and Poalim Capital Markets, who together raised $20 million, where Psagot is expected to increase its investment.
In doing so, Clal is doubling down on its investment in FinTLV, having only seven months ago invested $30 million as part of a $150 million funding round for digital insurtech Israeli startup Hippo - a round that led Hippo to a valuation of $1.5 billion. Psagot and Poalim also participated in that round, and together raised $30 million, alongside Clal.