# Firstime
Firstime is an Israeli venture capital firm based in [Tel Aviv](https://www.edgepedia.org/tel-aviv) that invests in early-stage climate technology and digital health companies, managing roughly NIS 1 billion across three funds. It traces its roots to a government-backed incubator founded in 2010, launched its first venture fund in 2014, and is led by co-founders and managing partners Jonathan Benartzi (also spelled Ben-Artzi) and Nir Tarlovsky.
| Key facts | |
|---|---|
| Type | Venture capital firm (climate tech and digital health) |
| Headquarters | Tel Aviv, Israel |
| Founded | 2010 as a government-backed incubator; first VC fund launched 2014[1](https://startupnationcentral.org/hub/blog/meet-the-israeli-vc-going-all-in-on-the-climate-revolution/) |
| Founders / partners | Jonathan Benartzi and Nir Tarlovsky (co-founders, managing partners); Keren Kopilov; Itamar Weizman (joined 2021); Ilan Shiloah (advisory board chair)[2](https://www.calcalistech.com/ctech/articles/0,7340,L-3921400,00.html) |
| Funds | Fund I $60M (2014); Fund II $60M (2017); Fund III targeting $100M+ announced November 2021[2](https://www.calcalistech.com/ctech/articles/0,7340,L-3921400,00.html) • [1](https://startupnationcentral.org/hub/blog/meet-the-israeli-vc-going-all-in-on-the-climate-revolution/) |
| Assets managed | Approximately NIS 1 billion across three funds[3](https://www.calcalistech.com/ctechnews/article/rkffpyh9yx) |
| Notable portfolio | Talkspace (went public), Redis (cloud-infrastructure unicorn), BeeHero, Pixellot[3](https://www.calcalistech.com/ctechnews/article/rkffpyh9yx) |
| Related arm | Firstime Credit, a non-bank venture-debt operation launched with CEO Yoni Ophir[3](https://www.calcalistech.com/ctechnews/article/rkffpyh9yx) |
## History and founding
The firm began in 2010 as a government-backed incubator. In 2014 it launched its first venture fund of $60 million, followed by a second $60 million fund in 2017, according to partner Itamar Weizman.[1](https://startupnationcentral.org/hub/blog/meet-the-israeli-vc-going-all-in-on-the-climate-revolution/) CTech dates the firm's establishment to 2014, when the first fund launched; the incubator origins come from the firm's own account via Weizman, and both dates describe the same organization rather than a genuine conflict.[2](https://www.calcalistech.com/ctech/articles/0,7340,L-3921400,00.html)
Before its climate pivot, Firstime was a generalist web-technology investor: its first two funds invested $120 million in more than 30 web-based technology companies.[2](https://www.calcalistech.com/ctech/articles/0,7340,L-3921400,00.html) The 30-company portfolio that resulted includes Talkspace, which went public on [Wall Street](https://www.edgepedia.org/wall-street), and Redis, a unicorn in cloud infrastructure.[3](https://www.calcalistech.com/ctechnews/article/rkffpyh9yx)
## Strategy and people
With its third fund, announced in November 2021, Firstime moved decisively into sustainability investing. The fund allocates roughly two-thirds to climate tech, spanning agriculture, energy, the circular economy, and carbon reduction, and one-third to digital health. It targets companies advancing at least one of the United Nations' 17 [Sustainable Development Goals](https://www.edgepedia.org/sustainable-development-goals).[1](https://startupnationcentral.org/hub/blog/meet-the-israeli-vc-going-all-in-on-the-climate-revolution/) • [4](https://archive.israel21c.org/israeli-vc-launches-100-million-sustainability-fund/)
Israeli capital for Israeli founders remains a stated constraint: the firm has continued its practice of investing Israeli funds in Israeli entrepreneurs only, though the companies themselves may be based abroad, as the California-registered STAX deal shows.[1](https://startupnationcentral.org/hub/blog/meet-the-israeli-vc-going-all-in-on-the-climate-revolution/) • [3](https://www.calcalistech.com/ctechnews/article/rkffpyh9yx) Check sizes grew with the pivot, from the earlier funds' approach to $2-8 million checks at post-seed and Series A stages.[1](https://startupnationcentral.org/hub/blog/meet-the-israeli-vc-going-all-in-on-the-climate-revolution/)
The partnership comprises co-founders and managing partners Jonathan Benartzi and Nir Tarlovsky, Keren Kopilov, and Itamar Weizman, who joined with the third fund's launch; Ilan Shiloah chairs the advisory board.[2](https://www.calcalistech.com/ctech/articles/0,7340,L-3921400,00.html) The third fund is backed by Jonathan Kolber, an investor and partner in Viola Investment Group whose investments include Fiverr, eToro, and the ION SPAC.[2](https://www.calcalistech.com/ctech/articles/0,7340,L-3921400,00.html)
## Funds, by the numbers
- **Fund I:** $60 million, launched 2014.[1](https://startupnationcentral.org/hub/blog/meet-the-israeli-vc-going-all-in-on-the-climate-revolution/)
- **Fund II:** $60 million, launched 2017.[1](https://startupnationcentral.org/hub/blog/meet-the-israeli-vc-going-all-in-on-the-climate-revolution/)
- **Fund III (Sustainable Tech Fund):** announced on the opening day of COP26 in Glasgow in November 2021, targeting over $100 million, with $50 million raised to date at announcement and Kolber as a backer.[2](https://www.calcalistech.com/ctech/articles/0,7340,L-3921400,00.html) • [4](https://archive.israel21c.org/israeli-vc-launches-100-million-sustainability-fund/) Weizman described a cap of $125 million, expected to close by the end of 2022, with at least fifteen companies planned and over $20 million already deployed at that point.[1](https://startupnationcentral.org/hub/blog/meet-the-israeli-vc-going-all-in-on-the-climate-revolution/) IVC records the fund as a 2021-vintage vehicle with eight active portfolio companies.[5](https://www.ivc-online.com/Google-Card?id=303215D6-E51C-EB11-810B-0050569A1018&type=1)
Reporting confirmed $50 million raised at announcement and the stated $125 million cap, but no closing was found.
## Portfolio and exits
The third fund's inaugural investments were BeeHero, a precision agriculture and pollination company whose in-hive sensors predict bee disorders, and Hygieia, which developed an insulin management program for people with diabetes.[2](https://www.calcalistech.com/ctech/articles/0,7340,L-3921400,00.html) • [4](https://archive.israel21c.org/israeli-vc-launches-100-million-sustainability-fund/) Firstime's own site says the fund invested in BeeHero's $15 million round and led a Series B in Hygieia (self-reported).[6](https://www.firstime.vc/team/) IVC lists further Fund III portfolio companies including Nostromo Energy, Baibys, Remepy, and TripleW.[5](https://www.ivc-online.com/Google-Card?id=303215D6-E51C-EB11-810B-0050569A1018&type=1)
On outcomes, the only source is PitchBook, an aggregator whose data is unverified here: it lists 20 exits, including Growin going out of business on 21 May 2026, Emaze on 1 September 2025, Manage Your Trip on 1 February 2025, and D-Nav on 4 November 2024.[7](https://pitchbook.com/profiles/investor/154035-46)
## Firstime Credit and recent developments
In February 2025, Firstime launched Firstime Credit, a non-bank credit operation for high-tech companies, in partnership with Yoni Ophir, former EVP and Head of Credit at Altshuler Shaham, who serves as CEO. The arm targets Series B-stage startups in energy, environment, and sustainability in Israel and abroad, with individual deals of $10-100 million, loan terms of two to six years, double-digit interest rates, equity participation, and revenue share.[3](https://www.calcalistech.com/ctechnews/article/rkffpyh9yx)
Its first deal, closed on 27 February 2025, provided $60 million to STAX Engineering, a California-based company co-founded by actor [Edward Norton](https://www.edgepedia.org/edward-norton).[3](https://www.calcalistech.com/ctechnews/article/rkffpyh9yx) The firm frames the credit arm as a commitment to sustaining innovation in climate technology (self-reported).[8](https://www.firstime.vc/introducing-firstime-credit/) IVC records Firstime III deals through 2025, including a $30 million third round announced in December 2024 and an $11 million first round announced in July 2025, and the firm's own site remains active.[5](https://www.ivc-online.com/Google-Card?id=303215D6-E51C-EB11-810B-0050569A1018&type=1) • [6](https://www.firstime.vc/team/)
## References
1. [Meet the Israeli VC going all-in on the climate revolution - Startup Nation Central](https://startupnationcentral.org/hub/blog/meet-the-israeli-vc-going-all-in-on-the-climate-revolution/)
2. [Firstime announces $100 million climate-tech fund, backed by Jonathan Kolber - CTech](https://www.calcalistech.com/ctech/articles/0,7340,L-3921400,00.html)
3. [Firstime unveils project financing for startups, closing first $60M deal - CTech](https://www.calcalistech.com/ctechnews/article/rkffpyh9yx)
4. [Israeli VC launches $100 million sustainability fund - ISRAEL21c](https://archive.israel21c.org/israeli-vc-launches-100-million-sustainability-fund/)
5. [Firstime Venture Capital III - IVC Data & Insights](https://www.ivc-online.com/Google-Card?id=303215D6-E51C-EB11-810B-0050569A1018&type=1)
6. [Team - Firstime](https://www.firstime.vc/team/)
7. [Firstime investment portfolio - PitchBook](https://pitchbook.com/profiles/investor/154035-46)
8. [Introducing Firstime Credit - Firstime](https://www.firstime.vc/introducing-firstime-credit/)
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*Topic: Encyclopedia › Society and history › Economics and business › Finance › Venture capital and private equity › Venture capital firms of Europe, the Middle East, and Africa › Venture capital firms of Israel and the Middle East*
*Initially written Sep 17, 2026 · Edited: Oct 11, 2026; Oct 15, 2026; Oct 25, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license