Entree Capital raises $300 million for two new funds to invest in early-stage Israeli tech startups
Entrée Capital, a global venture capital fund that invests in multi-stage startups and companies all over the world, said on Tuesday it raised $300 million for two new Israel-focused funds that aim to invest in early-stage Israeli startups. The latest investment brings total funds under the firm’s management to $1 billion.
Entree said the new financing will enable the firm to invest largely in the areas of DeepTech, FinTech, Software as a Service (SaaS), DevOps and Web 3.0 – Crypto/Blockchain – Data/Cloud Infrastructure, as well as consumer and food tech.
Entree said its Israel Early Stage Fund IV will provide pre-seed and seed funding to Israeli startups targeting deals of $500,000 to $6 million. Entree’s Israel Early Growth Fund II will focus primarily on early-stage funding rounds – series A and B – with investments of $5 million to $15 million, which will allow Entrée to be a lead investor or participant in other deals, it said.
Founded in 2004 by Aviad Eyal and Martin Moshal, Entrée Capital consists of a team of former serial founders managing $650m across a number of funds. Over the past decade, Entree has backed more than 130 Israeli startups including Monday.com and Riskified, the company said, resulting in 27 exits and 15 “unicorn” companies that have valuations above $1 billion.
In a blog post, Entree partner Avi Eyal said, “Over the past decade, we are proud to have backed over 130 startups, many of which are now successful (27 exits, 15 unicorns, and most growing strongly with only 11 losses). The companies that we’ve invested in employ over 35,000 people directly and over 100,000 more as contractors and partners. They have contributed to the global economy, whether it be by making significant scientific achievements, creating new products, or improving livelihoods.”
To date, Entree has a combined value of $335 billion across 130 portfolio companies. Since its inception about two decades ago, the firm has had 27 successful exits and IPOs.