Sababa Ventures, which is looking to bring Israeli funding, innovation and expertise to the American market, is raising $35 million for its debut fund.
According to Sababa co-founder and Managing Partner Jared Kash, the venture capital firm is halfway through the raise, with approximately $17.5 million in commitments to date. Sababa has offices in West Hollywood as well as New York and Tel Aviv.
The firm kicked off the fund in October with a $1 million investment in New York-based IMGN Media, a social media content and marketing company. The deal was made outside of any formal funding round by IMGN.
Kash said the move reflected Sababa’s strategy of investing in companies where his firm can add value regardless of the company’s fundraising status.
Sababa aims to bridge the gap between the Israeli startup community and the American media, entertainment and sports industries. It will focus on Israel-based companies and U.S. companies with operations in Israel.
Kash said the firm’s name, which means “great” or “cool” in Hebrew, embodies Sababa’s brand positioning.
“It’s attractive to the Israeli entrepreneurs because it’s slang, and they feel like it’s more approachable,” Kash said. He added that L.A. companies he has met with have understood his firm’s value proposition.
One of Sababa’s core selling points is its relationships with leaders in its target industries, which Kash said will allow the VC to drive targets through each investment stage, from due diligence to exit.
Kash said he anticipates closing Sababa Ventures I by the first or second quarter of 2020.
Sababa’s L.A.-based advisers include David Bishop, the former president of MGM Home Entertainment and Sony Pictures Home Entertainment, and sports business veteran David Meltzer.
Other notable members of the firm include general partner Randi Zuckerberg, sister of Facebook Inc. founder Mark Zuckerberg, and Sababa co-founder and Israeli tech entrepreneur Yaron Kniajer.
Entrepreneur Jacqueline Lowy is a principal at Sababa. The founder of Santa Monica- based private intelligence and consulting firm Sourced Intelligence was featured in the Los Angeles Business Journal’s 20 in their 20s in 2018.
Prior to co-founding Sababa, Kash led the venture arm of El Segundo-based digital production studio Big Block Media Holdings, which later became Sababa’s first investor.
