Meron Capital has closed a $70m third fund, expanding its capacity for pre-seed and seed investments across AI, cybersecurity, fintech, digital health, climate tech, and robotics. The fund brings Meron’s total capital raised to $170m. The firm is also adding Gil Shai, co-founder of CloudEndure, to its leadership team.
Meron’s first two funds deployed $100m and built a portfolio now valued at more than $8bn, including unicorns EON, Immunai, and Solugen. The firm has seen seven exits to date, including Laminar (acquired by Rubrik), Testim (acquired by Tricentis), Loom Systems (acquired by ServiceNow), Reshuffle (acquired by Twitter), and Clear Genetics (acquired by Invitae).
To support the new fund, Meron is adding Gil Shai as Managing Partner. Shai brings more than two decades of operating and commercial experience, including as co-founder of CloudEndure, where he served as chief revenue officer until its acquisition by Amazon Web Services for a reported $300m.
Shai continued to serve as head of business development and was responsible for CloudEndure’s product at AWS, which by the time he left was generating roughly $1bn in revenue.
