Gett founder Dave Waiser unveils invitation only venture

Last week, Gett founder and former CEO Dave Waiser unveiled a new venture called Accumulator, raising $46 million at an estimated valuation of $140 million.

The company offers an innovative solution to a problem known to startups: how to convert founders’ shares into ready cash? It enables founders to use their shares, which are typically “stranded” until the company is sold or goes public, to invest in a fund that holds shares of other leading technology companies. Thus, instead of relying solely on the success of their own company, founders can create a diversified investment portfolio for themselves.

The company already manages various funds with a total value of $60 million: a fund for the company’s founders; a fund for early-stage investors (“angels”); A fund that invests in a variety of technology companies. Investors in the company include well-known entrepreneurs such as Wix founder and CEO Avishai Abarhami and Zalando co-founder Filip Dames, along with investors such as NFX co-founder Gigi Levy-Weiss and FJ Labs co-founder Fabrice Grinda.

Accumulator is regulated by the US Securities and Exchange Commission, which must ensure that its activity meets all requirements of the law. It works like a closed club: only company founders who are invited to join can do so.

The company recently expanded its activity to include angel investors, who face a similar problem: they invest early in successful companies but have difficulty selling their shares. “Angel investing is the engine of innovation,” says Oscar Hartmann, who runs the fund dedicated to angels. “We help these investors turn an investment in one company into a diversified investment portfolio, while maintaining the potential for significant profits.”

“Our goal is to create a community of successful entrepreneurs,” Weiser said. “There are more than 12,000 entrepreneurs in the world who have founded companies worth more than $100 million. Their companies impact the lives of five billion people and generate $1 trillion in revenue.”

Published by Globes, Israel Business news – en.globes.co.il – On December 8, 2024.