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January 18, 2022 10:08 am

Entree Capital Raises $300 Million for 2 New Israel-Focused VC Funds

avatar by Reuters and Algemeiner Staff

A man enters the Tel Aviv Stock Exchange, Jan. 29, 2017. Photo: Reuters / Baz Ratner.

Global venture capital fund Entree Capital said on Tuesday it raised $300 million for two new Israel-focused funds that aim to invest in early-stage Israeli startups.

The move bring funds under management to $1 billion, it said.

Entree said the new financing will enable it 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 foodtech.

Its Israel Early Stage Fund IV will provide pre-seed and seed funding to Israeli startups targeting deals of $500,000 to $6 million. Its 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.

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Over the past decade, Entree has backed more than 130 Israeli startups including and Riskified, the company said, resulting in 27 exits and 15 “unicorn” companies that have valuations above $1 billion.

Entree noted its portfolio companies have a combined value of $335 billion.

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