Bernard Arnault investor in Israeli cloud security company Wiz

Bernard Arnault, recently named richest person in the world by Forbes magazine, invests in Israeli cloud security company Ace, directed by Assaf Rappaport. Arnault invested in Wiz through his investment fund Aglaé Ventures. The fortune of founder of luxury goods company LVMH, Arnaud, is estimated at $ 198 billion.

Arnault’s investment fund joined a $ 120 million deal first reported in late May. The investors in the cycle reported so far have been software giant Salesforce and US investment firm Blackstone. It has now been revealed that the Arnault fund was also involved. Some of the money went to Wiz, while some went to Gili Raanan’s Cyberstarts fund, which sold half of his stake in Wiz.

Wiz was founded in January 2020 by Rappaport, Ami Luttwak, Yinon Costica and Roy Reznik – the same team that founded Adallom, which was sold to Microsoft for $ 320 million in 2015. Rappaport was later named Cloud Security Group.

Since its inception, Wiz has received substantial investments from leading investors. Last December, he raised $ 100 million from major funds Sequoia, Index and Insight Partners. A few months later, in March of this year, she announced that she had raised an additional $ 130 million for a valuation of $ 1.7 billion, making her a unicorn in record time. Former Starbucks CEO Howard Schultz was an investor in this round.

Aglaé Ventures focuses on technology investment and is supported by Agache, the investment entity through which Arnault controls LVMH.

Posted by Globes, Israel business news – – June 10, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Leave a Reply

Your email address will not be published. Required fields are marked *