Greenfield Partners Announces Close of $350m in New Investment Funds
With the new funds, total Assets Under Management of Greenfield Partners now exceed $500m
Greenfield Partners has announced the final close of new investment funds totaling $350m. The new capital includes Greenfield Partners Fund II, which is intended to invest across 15 startups at the early growth stages (rounds B and C), and several additional investment vehicles that will jointly enable investments of a larger quantum, as well as support Greenfield’s existing portfolio companies at later stages and for the long term. The new funds raised bring the total assets under management of Greenfield Partners to over $500m.
Greenfield Partners was initially established in 2016 by TPG Growth. In 2020, the fund’s partners spun out into an independent fund, backed by new investors including leading institutional investors, entrepreneurs, and investors from Israel and across the globe. Leading up to the spinout, Avery Schwartz, a long-time investment banker at Goldman Sachs, and Raz Mangel, previously with Barclays, joined Greenfield as Partner and Principal, respectively. The Fund now employs 7 investment professionals across offices in New York and Israel.
Previous Greenfield Partners investments include Guardicore, which was sold to Akamai last year; Avanan, which was sold to Check Point last year; and unicorns VAST Data, recently valued at $3.7bn, and BigPanda, recently valued at $1.2bn. Greenfield Partners Fund II has already invested in notable companies, including: Capitolis, Coralogix, Cynet, Silverfort, Panorays, EquityBee, Mixtiles, DustPhotonics, Planck, and Quali.
The fund places a heavy focus on enterprise software and invests also in fintech and consumer/internet, while focusing on companies at the early growth stage. Greenfield’s unique value comes from supporting founders and their companies in their transition from being primarily R&D focused, to ones where international expansion and building out go-to-market functions become core tenets of their operations. Greenfield’s team, and its global network of advisors, is comprised of a diverse set of former founders, senior management in leading technology companies, and financial experts with experience in banking and investments.
“We are at a period when the market is placing greater emphasis on healthy unit economics, which is where our expertise lies, after several years where we saw investors rewarding growth at all costs,” says Shay Grinfeld, Managing Partner at Greenfield. “We invest in companies after years in which the companies’ management was focused on R&D, product-market-fit, and initial build-out of its sales function. At the early-growth stages where we enter, new challenges emerge and we have the expertise and the tools to work with founders to ensure they manage them in the optimal way.”
“In this period of market volatility, we are grateful for our ability to continue to support Israeli entrepreneurs and promote innovation through our new funds,” says Yuda Doron, Managing Partner at Greenfield. “We see where the company needs to be a few years down the road and work closely with them on building their sales organizations, recruiting executives, opening international offices, improving KPIs, and developing scalable internal processes, which together set up our portfolio companies up for long-term success. We have been active in the Israeli technology ecosystem for many years and thank some of the world’s leading investment managers who have chosen to partner with us and believe in the Israeli technology market.”