Cactus Capital

שעתיים של ערך , זכינו להזדמנות מדהימה! Yazamut 360°Ben-Gurion University of the NegevDana Gavish

Yazamut 360° Ben-Gurion University of the Negev

It takes three calls to see the full picture At Cactus Academy, we had the pleasure of hosting Tal Abuloff, Principal at Grove Ventures, for a deep dive into how investors approach due diligence and evaluate founders beyond the pitch. Tal opened the session by explaining that not every deal includes a formal due diligence process, especially in fast-moving, competitive situations or when the VC has deep domain knowledge in the startup’s vertical. Still, in most cases, the real work happens behind the scenes. Diving into the market, the competition and of course the team. One of the key takeaways was Tal’s structured approach to reference checks. She emphasized the value of talking to three types of people that are connected to the entrepreneur: A former manager A peer or colleague And someone who worked under you This triangle, she explained, helps investors form a well-rounded picture of the founder’s capabilities, leadership style, and working dynamics. Thank you Tal, for sharing your experience with us.

At Cactus Academy, we had the pleasure of hosting Daniel Cohen, one of Israel’s leading B2C venture capital investors. With decades of experience at Gemini and Viola and 30 investments behind him, Daniel brought a unique perspective on the consumer space. According to him, B2C is on the edge of a major shift. Rising marketing costs have made traditional growth models harder, but AI is unlocking new opportunities, from smarter targeting to more personalized user experiences. This, Daniel believes, is reshaping how consumer products reach and resonate with end-users. It was a fascinating and thought-provoking session that gave us a fresh perspective on the future of B2C.

“Don’t build to be bought. Build to matter". At Cactus Academy, we had the rare privilege of hosting Yossi Sela, one of Israel’s most iconic VCs and managing partner at Gemini Israel Ventures. With decades of experience, we were lucky to have a straightforward Q&A session with Yossi. These are some of the key points that Yossi addressed: Don’t follow the herd. Just because everyone is investing doesn’t mean it’s the right time and just because others are pulling back doesn’t mean you should. According to Yossi, market timing is less important than having conviction, discipline and a clear investment thesis. Know when to walk away. Continuing to invest in a struggling company just because you’re already invested, is a common mistake. According to Yossi, good investors know how to stay emotionally detached, recognize when things aren’t working and make clear, rational decisions rather than chasing sunk costs. Don't Build to Be Bought. According to Yossi founders who build startups just to get acquired are setting themselves up for failure. When a company is built with the sole goal of being sold, it often lacks depth, vision and staying power. Instead, he encouraged founders to focus on building real value - develop products that matter, aim for long-term impact and track early signs of market traction, even if they seem small. These are the foundations of healthy, resilient companies.

After two investment committees and extensive discussions, we are excited to announce a new addition to the Cactus Capital portfolio! CommuniPass - A platform founded by Ofir Friedman and Niv Ben Farin that is building the future of creator monetization. This AI-powered platform transforms content creators' knowledge into revenue through interactive and community-driven experiences, all on platforms that audiences already love and use. We are thrilled to begin this shared journey and wish CommuniPass great success as they continue on their path forward. Yazamut 360°

שבוע שעבר, ועדת ההשקעות של מסלול הלאונצ'ר, שהיא רגע השיא שמסכם את מחזור ההשקעות השנתי של קקטוס קפיטל, התקיימה בזום. למרות המצב המורכב, על רקע אי הוודאות ובהרכב חסר בעקבות הקפצות מילואים, היה לנו חשוב להמשיך בעשייה, דווקא עכשיו, לפתח ולחזק את האקוסיסטם הישראלי. תודה לאורחים שלנו Omer Rimoch ו- Lihi Lubranski על ההיענות גם בתקופה כזאת ועל הידע והניסיון שחלקתם איתנו.  

סולמות וחבלים גרסת הסטארט-אפים. התארחנו במשרדי EY לסדנת GO TO MARKET. הסדנה הועברה לחברות הפורטפוליו של הקרן בהובלת Pe'era Feldman 🎗️, יועצת לסטארט-אפים המלווה מנכ״לים ויזמים בפיתוח וקידום מיזמיהם. פארה הדגישה שדווקא השאלות הפשוטות ביותר מחזירות אותנו לפוקוס. "מה הבעיה שאני פותר? האם המוצר שלי אכן נותן לה מענה?" תארו את הבעיה שאתם פותרים בשש מילים בלבד. נשמע פשוט? תחשבו שוב. בנוסף, דברנו על הדרך לבנות סיפורים סביב המוצר. סיפורים שיוצרים מסר עמוק המעביר ללקוחות את המשמעות האמיתית של המוצר, מעבר למאפיינים טכניים ופונקציונליות. יצירת מסר כזה נשענת על הבנה מעמיקה של רצונות לא מוצהרים ונקודות הכאב של הלקוחות. לסיום, Ari Aslan, שותף ב-EY הציג לנו סקירה מקיפה של המגמות המעצבות את שוק ההייטק והיזמות בישראל ובעולם, וסיפק פרספקטיבה רחבה שעזרה לראות לאן פני התעשייה מועדות בעתיד הקרוב.  

Ever heard of double dipping? But not the kind with chips, the kind buried in investment agreements. That’s just one of the key legal insights we explored last week at Cactus Academy. During a Legal 101 session led by Dafna Achiam Tal, Partner at Agmon with Tulchinsky that has nearly two decades of experience advising startups and venture capital funds. According to Dafna, some investors can be divided in to two categories: Financial investors who may not fully understand the product or market but invest based on founder potential and concept strength. And Strategic investors, who often view startups as potential competitors and are investing primarily to maintain market awareness and internal influence. We then took a deep dive into the legal aspect of fund raising. Board seats, veto rights, and dilution rights are just some of the concepts we dove into in Dafna’s masterclass. She emphasized that these clauses can have long-term consequences on founders' equity and control. For example, she explained how in some cases dilution rights can lead to "double dipping", where investors can receive double dividend distributions. Understanding complex legal aspects early on the way during our students academic journey, is a privilege and we are grateful for that opportunity.

Common mistakes in managing startup fundraising. This was the focus of our recent VC 101 session at Cactus Academy, led by Amir Shevat. As Founding Partner at DarkMode VC, active angel investor, and with past leadership roles at Google, Slack, Twitch, and Microsoft, Amir brought decades of experience on what it really takes to fundraise and scale a startup. Before diving into the mechanics of raising capital Amir reminded that venture capital is not the only path. In fact, for early-stage startups, raising from angel investors, family, or friends can often offer more flexibility and less pressure. For founders who are ready for VC funding, Amir laid out some of the most common mistakes founders make: - Raising from the wrong investors. Investors who don’t understand your domain or aren’t actively involved can create long-term misalignment. - Poor cap table management. Giving away too much equity too early or involving too many stakeholders can complicate future funding rounds. - Not raising the right amount of money. Raising too little can leave a company struggling before it reaches it’s next milestone, while raising too much can lead to unrealistic expectations. Want to know the rest of the mistakes? Check out the first comment for a link to Amir’s Medium paper.