Israel's Team8 launches VC fund to invest in AI, cybersecurity

JERUSALEM (Reuters) - Israeli cyber group Team8 said on Wednesday it launched Team8 Capital, a new venture capital fund that will focus on technology investments in data, artificial intelligence (AI) and cybersecurity.

Team8 Capital will invest at the seed and other early rounds of funding, expanding on its model that builds new companies from scratch, it said.

A creator of cyber defense startups, Team8 is backed financially by Moody’s Investors Service and other companies like Microsoft, Airbus and Qualcomm, Walmart, Cisco and Barclays.

Team8 has received commitments of $104 million for the fund, according to a U.S. Securities and Exchange Commission filing.

Sarit Firon will be managing partner of Team8 Capital.

Reporting by Steven Scheer; Editing by Tova Cohen

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