European venture capital fund ROCH Ventures has announced the launch of a €100 million fund for travel and tourism start-ups, of which €20 million will be invested in Israeli companies. The fund is headed by French entrepreneur Bobby Demri, founder of the GOV app and former director of software innovation at the Boston Consulting Group, and Ludger Kuebel-Sorger, senior partner emeritus at the Boston Consulting Group.
The fund aims to invest the sum over the next four years, focusing on sustainable travel, digital nomadism and the future of business travel.
The fund’s objective is 15 placements, in the seed phase and Series A, investing up to 10 million euros per company.
“ROCH Ventures sees Israel as a very strategic country. Both in terms of innovation and the very high quality of its entrepreneurs,” said Demri, Managing Partner of ROCH Ventures. “Israel will be a key element of our investment strategy.”
“We are already talking to a significant number of companies in Israel and I am very impressed with all the great technologies I have seen so far. In terms of technology, part of the future of the travel industry is being written in this country,” added Ludger Kuebel-Sorger, Managing Partner of ROCH Ventures.