In addition to these tech giants, Moody’s Corp. and Temasek Holdings Pte also contributed to the three new funds and follow-on funding. This has increased Team8's assets under management to over $1 billion, according to a statement released by the investment firm on Tuesday.
Key takeaways:
- Israel-based venture capital firm Team8 raised $500 million from investors including Microsoft Corp., Walmart Inc., and Cisco Systems Inc.
- The funds will be focused on local startups.
- Moody’s Corp. and Temasek Holdings Pte also backed the three new funds and follow-on funding.
- This funding brings Team8’s assets under management to more than $1 billion.