Israel-based Entrée Capital pulls in $80m for second technology fund

Israel-based early-stage investor Entrée Capital Ventures has pulled in $80m for its second tech fund targeting the country.

The firm, which now manages more than $300m across a number of funds, used its predecessor vehicle in the strategy for investments including, Riskified, DragonPlay, HouseParty, Breezometer and KitLocate.

The new fund will target early-stage companies with Israeli founders both in Israel and abroad, in the fields of deep technology, AI, AR/VR, SaaS, FinTech and ‘loss of friction’ opportunities.

Entrée has made a range of investments into the FinTech sector, with it participating in the $37.5m Series D of personal finance platform Stash earlier in the year. Last year, the firm contributed to the $19.18m Series B of Australia-based Prospa, an online small business lender.

Michael Kim, the founder of seed VC fund investor Cendana Capital, said, “We are very excited to partner with Entrée Capital, who we believe is the vanguard of Israeli Venture 2.0. Their founder-friendly approach will help transform Israeli venture capital and align both founder and investor incentives to generate success.”

Entrée also announced the addition of two new partners to the new fund. Ran Achituv joined as a Managing Partner, having previously been a partner at another venture capital firm, and prior to that serving as CTO of Amdocs and Verint.

Eran Bielski, who has worked at Entrée Capital for over three years, was promoted to general partner.

Bielski previously worked at JPMorgan Chase, led a number of Entrée investments over the past years, and overseas SigmaLabs, Entrée’s accelerator based in Tel Aviv.

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