First Israel-focused angel club launched

Two Israeli businessmen have started an Israel-focused angel investment group.The new group, Tevel, aims to match Israeli entrepreneurs with angel investors, who typically provide funds to early-stage start-up companies. Tevel plans bimonthly meetings where pre-screened Israeli start-ups can request $250,000 to $2.5 million in financing from club members.”For decades in the U.S., angel clubs have been a popular method of bringing together investors with high-potential, early-stage companies,” said Oren Fuerst, one of the group’s two founders. “Having been involved in technology investments and advisory for more than a decade, it was clear to me that there was a need for such a club focused exclusively on Israeli companies.”Tevel’s first meeting is slated for Sept. 6 at the Harvard Club in New York.