Yahoo Finance Entrée’s Assets Hit $1 Billion After New Funding for Israel Tech
(Bloomberg) -- Venture capital firm Entrée Capital reached $1 billion in assets after raising fresh funds to bankroll Israeli technology companies, following one of the busiest years of investing in the country’s booming industry.
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Entrée attracted $300 million in capital across two funds and will channel it primarily into startups in areas like financial technology, digital infrastructure, and cryptocurrencies and blockchain, according to a company statement on Tuesday. The firm has offices in Tel Aviv, London and New York.
One of the funds will target startups just getting off the ground with investments of up to $6 million, while the second will go toward slightly older companies with checks ranging between $5 million and $15 million.
Co-founded by Avi Eyal and Martin Moshal, Entrée was one of the most active venture capital firms in Israel last year with 23 investments, according to a report last month by Start-Up Nation Central, a non-profit organization that tracks the country’s tech industry.
Portfolio companies like Monday.com Ltd. and Riskified Ltd. were among a slew of Israeli startups that held initial public offerings last year, part of a wave of exits that surpassed more than $80 billion. Eyal owns a 1.7% stake in Monday.com worth $159.4 million.
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