Israeli Venture Capital Fund Opens N.Y.C Cybersecurity Center

Jerusalem Venture Partners hopes to launch a second branch in Europe

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FILE Photo: Employees works at the Jerusalem Venture Partners JVP Media Labs, situated in the JVP Media Quarter in Jerusalem, Israel.
Employees works at the Jerusalem Venture Partners JVP Media Labs, in the JVP Media Quarter in Jerusalem, Israel.Credit: Rina Castelnuovo/Bloomberg

The Israeli venture capital firm Jerusalem Venture Partners opened a cybersecurity center in New York City Monday to help launch startups, and said it was eyeing a similar hub in Europe.

JVP was chosen by the mayor’s office to drive a $100 million initiative aimed at creating high-tech jobs and transforming the city into a global leader for cybersecurity. It said it is working together with the mayor’s office and the Economic Development Corporation of New York.

Called the JVP International Cyber Center, the center was built in downtown Manhattan in order to connect tech startups with investors, multinational companies and universities.

About 30 companies, half of them Israeli, are up and running in the center, said JVP Chairman Erel Margalit. He said he was looking to duplicate the venture in Europe.

“We need a European gateway. There is a lot of energy from Israel to Europe,” Margalit said. There are “two or three serious discussions” with European cities, particularly with London, he said.

As part of the opening festivities, actress and Goop founder Gwyneth Paltrow was slated to hold a “fireside chat” with Margalit Monday night on innovation and entrepreneurship.