Entree Capital raises $100m VC seed fund

ECV Team  / Photo: Entree Capital

Entree's third fund will focus on deep technologies such as quantum computing, VR and AR, AI, and the digital health and fintech sectors.

Entrée Capital venture capital fund announced today that it has closed a $100 million third seed fund for investment in early stage startups.

Entrée Capital cofounder and managing partner Aviad Eyal wrote, "We worked very hard over the past three months in very difficult conditions in order to achieve these amazing results."

The new fund is for investment in Israeli companies or companies with Israeli founders in Europe and the US. The fund will focus on startups developing deep technologies such as quantum computing, virtual and augmented reality, artificial intelligence and the digital health and fintech sectors.

Entrée Capital was founded in 2010 by Aviad Eyal, and Martin Moshal. The venture capital firm has $450 million under management of which $120 million is invested in Israeli companies. Entrée Capital's investments include Monday, Fundbox, Riskified, House-Party, Stripe and Snap.

Entrée Capital has offices in Israel, the UK, and US and as well as its founders partners include Ran Achituv, Eran Bielski and Doron Dinstein who was recently appointed as a partner specializing in the medical technology sector. Achituv told "Globes," even before the coronavirus outbreak we saw the world of health connecting up to computers and now even more so."

He added, explaining why now is a good time to set up a new fund. "This is an excellent period to raise a fund and to invest in the coming months, because prices are low and there is not a lot of competition. Firstly, whoever began to invest in 2008 made a lot of money. Secondly, we believe in the ability of the Israeli market to swiftly adapt to the current needs with startups among this."

He continues, "I have no doubt that Israel will lead in technologies for the new world. We aren't only talking about technologies that treat coronavirus but also in the new world after that - just like all the companies in the gig economy that were founded in 2008 and became today's biggest companies. Transition periods are moments that present the biggest opportunities and ideas."

Published by Globes, Israel business news - www.globes-online.com - on April 13, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

ECV Team  / Photo: Entree Capital
ECV Team / Photo: Entree Capital
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