Gili Raanan

And as you know, in our business, if you invest early on in terrific companies, if you invest early on in DoorDash or Airbnb, you'll do disgustingly well.

And as you know, in our business, if you invest early on in terrific companies, if you invest early on in DoorDash or Airbnb, you'll do disgustingly well.

But a hit rate of four or five Unicorn, including one DecaCorn and a few other companies that each of them got acquired for hundreds of millions of dollars each, that hit rate was a proof point that there's something right about the model, about the thesis.

But a hit rate of four or five Unicorn, including one DecaCorn and a few other companies that each of them got acquired for hundreds of millions of dollars each, that hit rate was a proof point that there's something right about the model, about the thesis.

But on top of luck, I think Warren Buffett once said, as he works harder and harder, he becomes luckier and luckier. So definitely luck is important. But I think the major factors here are a clear thesis. Cyber start is one simple thesis, one sector and a commitment to deliver real value to the founders we partner with.

But on top of luck, I think Warren Buffett once said, as he works harder and harder, he becomes luckier and luckier. So definitely luck is important. But I think the major factors here are a clear thesis. Cyber start is one simple thesis, one sector and a commitment to deliver real value to the founders we partner with.

the clarity of that thesis and the fact we focus just on a single sector and we own it the founder selection criteria and i would love to share some example later on and the fact that we made our decision making process super simple by completely eliminating considerations like market, technology product, competition, business plan, pricing, whatever it is.

the clarity of that thesis and the fact we focus just on a single sector and we own it the founder selection criteria and i would love to share some example later on and the fact that we made our decision making process super simple by completely eliminating considerations like market, technology product, competition, business plan, pricing, whatever it is.

So we do not waste time on those things initially. We spend our time making sure that we bet on the right outlets. So luck, thesis, founder selection criteria, and then I would add two other factors. One is the commitment we have to get the product market fit as fast and as efficient as you could. And that's the whole story of our Sunrise Day program.

So we do not waste time on those things initially. We spend our time making sure that we bet on the right outlets. So luck, thesis, founder selection criteria, and then I would add two other factors. One is the commitment we have to get the product market fit as fast and as efficient as you could. And that's the whole story of our Sunrise Day program.

The service program means that you do not develop technology or solutions in a vacuum, that you build software, that you build software solutions that people really need and can use on a daily basis. And I would say the last element is that I'm surrounded by four amazing partners. Each of them is adding tons of experience and value and knowledge and coming from different backgrounds.

The service program means that you do not develop technology or solutions in a vacuum, that you build software, that you build software solutions that people really need and can use on a daily basis. And I would say the last element is that I'm surrounded by four amazing partners. Each of them is adding tons of experience and value and knowledge and coming from different backgrounds.

I think all those five elements, like CyberStarts, what it is today, and just to continue the story of CyberStarts, today, with all the humble beginning we had, we manage more than $700 million under management across five funds, four seed funds and one continuation fund.

I think all those five elements, like CyberStarts, what it is today, and just to continue the story of CyberStarts, today, with all the humble beginning we had, we manage more than $700 million under management across five funds, four seed funds and one continuation fund.

The portfolio value today, cumulatively, is around $45 billion, which is 50% of the worldwide market cap of private cybersecurity companies. 50%. That means that we seeded 50% of the worldwide market cap for private companies in cybersecurity. And that's under seven years.

The portfolio value today, cumulatively, is around $45 billion, which is 50% of the worldwide market cap of private cybersecurity companies. 50%. That means that we seeded 50% of the worldwide market cap for private companies in cybersecurity. And that's under seven years.

Yes. We believe in cybersecurity. Give us another seven years and let's see where we can go from here. Each of the four active funds delivered over 100% IRR to investors. So this is not just a case of one successful first fund and then living on the success of that fund. I think that we deliver value to founders and to limited partners across all the funds systematically.

Yes. We believe in cybersecurity. Give us another seven years and let's see where we can go from here. Each of the four active funds delivered over 100% IRR to investors. So this is not just a case of one successful first fund and then living on the success of that fund. I think that we deliver value to founders and to limited partners across all the funds systematically.

My personal experience as founder and builder taught me that startup is an insanely painful journey. It's super hard. And like it or not, you're going to face a lot of challenges. And that made me believe I shouldn't simply look for the smartest person in the room. High IQ helps. It's not a bad thing, but it's not the most important thing.

My personal experience as founder and builder taught me that startup is an insanely painful journey. It's super hard. And like it or not, you're going to face a lot of challenges. And that made me believe I shouldn't simply look for the smartest person in the room. High IQ helps. It's not a bad thing, but it's not the most important thing.