Podcast Summary: The Investor with Joel Palathinkal

Episode: Jack Levy: More Ventures
Date: October 12, 2025
Host: Dr. Joel Palathinkal
Guest: Jack Levy, Founder of More VC

Overview

This episode features Jack Levy, founder of the Israeli venture capital firm More VC (formerly Israel Cleantech Ventures), in a wide-ranging discussion on his personal journey, the evolution of Israel’s tech ecosystem, insights into venture and impact investing, and advice for the next generation of founders and allocators. Levy shares unique perspectives from his multi-faceted background as a lawyer, entrepreneur, and investor, and gives a candid look at successes, challenges, and transformations in Israeli and global venture capital.

Key Discussion Points & Insights

1. Jack Levy’s Personal & Professional Backstory

• Roots and Upbringing:

  • Born and raised in New Jersey; family of immigrants—his father a Cuban émigré, and maternal grandparents also immigrants ([02:34]).
  • Strong ties to Jewish day schools and spent time in Israel during a gap year, an experience that deeply connected him to the country ([02:34]-[04:45]).
  • “There’s Jack, then there’s Israel Jack. When I was here, I had this additional kind of kick in my step.” – Jack Levy ([05:21]).

• Education and Legal Career:

  • Attended Harvard (international relations) and Columbia Law; nearly moved to Israel after college ([05:35]).
  • Started as a corporate lawyer in NYC, working on venture and private equity deals with Warburg Pincus ([07:37]).

• Transition to Tech and Venture:

  • Recruited out of law by Register.com during the first internet boom, where he was general counsel and later part of the management team ([09:00]-[11:10]).
  • Moved to Israel in 2003, co-founded Israel Cleantech Ventures, leveraging both a desire to do good and to seize a market gap ([12:55]; [33:01]).

2. The Israeli Startup & Venture Capital Ecosystem

• Origins and Growth:

  • Explained Israel’s emergence from 1980s hyperinflation and the pivotal YOZMA government program that seeded the country’s first VC funds ([06:30]).
  • “If you go raise $10 million, we’ll give you $10 million… It was like leverage without the debt risk for the other LPs.” – Jack Levy ([06:57]).

• Cultural and Social Drivers:

  • Technological talent and entrepreneurship often accelerated by experiences in the Israeli military ([43:39]).
  • Diverse, immigrant-rich society creates a dynamic cultural and culinary scene ([14:04]).

• Strengths & Differences:

  • Tends to focus on deep tech and engineering-driven solutions; entrepreneurial strengths often shaped by mission-critical projects in military service ([43:39]).
  • Comparison with U.S.: Israeli founders excel at technological know-how, though often less close to end-markets. Israeli expat communities in Silicon Valley and NYC help bridge gaps ([43:39]-[46:15]).
  • “We are typically looking for some kind of deep technological innovation because we think that the best Israeli successes have that.” – Jack Levy ([43:43]).

3. Lessons from Register.com and the Dot-com Era

• Culture and Decision-Making:

  • Intense growth required leadership to spend ~70% of their time recruiting. Customer delight and problem-solving were paramount ([17:24]).
  • “The best entrepreneurs have this crazy passion for their customers.” – Jack Levy ([18:48]).

• Competition and Missed Opportunities:

  • Register.com competed with monopolies; simplicity and user experience were differentiators ([20:56]).
  • As a public company, caution around margins prevented bold changes, allowing competitors like GoDaddy to outpace them ([22:09]).
  • “When we were a public company, we were scared… to tell Wall Street, ‘We’re going to cut that gross margin but trust us, it’s the right thing to do.’” – Jack Levy ([22:09]).

• Web 1.0 Environment:

  • “We were all making it up as we went along… 23-year-old techies using common sense to make these rules up.” – Jack Levy ([30:29]).
  • Notable camaraderie and parties in the New York scene; sharp contrast with today’s fast and continuous deployment models ([47:13]).

4. The Shift to Clean Tech and Impact Investing

• Genesis of Israel Cleantech Ventures:

  • Started due to a market gap; clean tech largely ignored in Israeli VC space circa 2005-2006 ([33:01]).
  • “As an investor, you want to be ahead of the herd… nobody else was doing it.” – Jack Levy ([33:32]).

• Challenges and Evolution:

  • Deep tech/clean tech deals are capital-intensive and slow-moving, often mismatched with the life cycle and patience of standard VC funds ([38:04]).
  • Recognized the need to broaden focus for stronger returns; More VC now balances broad tech themes with an underlying commitment to sustainability ([12:34]; [35:56]).
  • “We are returns driven… but we definitely are trying to make investments in things that we think leave the world in a better place.” – Jack Levy ([12:34]).

• Advice on Impact & Clean Tech:

  • Impact funds require both financial and non-financial (impact) accountability; More VC chose to prioritize returns but maintains ESG reporting ([35:56]).
  • For deep tech/clean tech, cautions about high capital needs, slow validation cycles, and the importance of sufficient follow-on capital ([40:48], [42:47]).
  • “If you’re thinking about doing it in a seed stage, I would tell you stay on the software side. There’s enough opportunities there.” – Jack Levy ([42:47]).

5. Perspectives on Founders, Mentorship, and Career Choices

• On Founders and Leadership:

  • Best founders are relentless, passionate about customer problems, and excel at recruiting team and investors ([17:24]).
  • Leadership strengths and weaknesses are often two sides of the same coin ([17:24]).

• Career Decisions and Mentorship:

  • Levy’s law firm mentors supported his leap to startups; valued breadth of knowledge over deep narrow expertise ([23:45]-[26:54]).
  • “I was much more interested in having sort of knowledge that was much wider and less deep necessarily.” – Jack Levy ([25:45]).

• General Career and Life Advice:

  • Stay calm, maintain perspective, practice mindfulness—crucial for entrepreneurship and dealing with uncertainty and setbacks ([48:12]).
  • “Celebrate your successes. Stay calm, keep perspective. We’re all bumbling through this to some extent and making mistakes.” – Jack Levy ([48:12]).

Notable Quotes & Memorable Moments

| Time | Quote & Speaker | |---------|---------------------------------------------------------------------------------------------| | 05:21 | “There’s Jack, then there’s Israel Jack. When I was here, I had this additional kind of kick in my step.” — Jack Levy | | 06:30 | “The government actually put together an amazing program…they seeded ten venture capital funds. It was called the YOZMA program.” — Jack Levy | | 17:24 | “The best entrepreneurs have this crazy passion for their customers.” — Jack Levy | | 22:09 | “When we were a public company…we were scared…to tell Wall Street, ‘We’re going to cut that gross margin…but trust us, it’s the right thing to do.’” — Jack Levy | | 30:29 | “We were all making it up as we went along…23-year-old techies using common sense to make these rules up.” — Jack Levy | | 33:32 | “As an investor, you want to be ahead of the herd…nobody else was doing it.” — Jack Levy | | 42:47 | “If you’re thinking about doing it in a seed stage, I would tell you stay on the software side. There’s enough opportunities there.” — Jack Levy | | 48:12 | “Celebrate your successes. Stay calm, keep perspective. We’re all bumbling through this…and making mistakes.” — Jack Levy |

Key Timestamps for Important Segments

• Jack Levy’s Background and Journey – [02:34]–[12:34]
• Israeli VC Ecosystem and YOZMA Program – [06:30]
• Register.com Experiences and Lessons – [09:00]–[22:09]
• Switch to Clean Tech VC (Israel Cleantech Ventures/More VC) – [12:34]–[35:56]
• Deep Tech/Clean Tech Investment Realities – [38:04]–[42:47]
• Comparing Israeli and US Startup Ecosystems – [43:00]–[46:15]
• Career Wisdom, Mindfulness, and Final Advice – [48:12]

Closing Thoughts

Jack Levy’s episode is a masterclass in adaptive career thinking, understanding venture capital’s shifting sands, and the importance of purpose-driven investment strategies. Through candor and grounded wisdom, Levy illustrates the interplay of mission, market gaps, and hard-won lessons in navigating both tech booms and the rigors of impact investing. The episode concludes with universal advice on staying centered—a message for entrepreneurs and everyone weathering uncertain times: celebrate your wins, keep perspective, and don’t get lost in the setbacks.