Aleph Research
Investment Thesis
Aleph is an early-stage venture capital firm dedicated exclusively to partnering with Israeli entrepreneurs to build large, meaningful companies and impactful global brands. Founded in 2013 by Michael Eisenberg and Eden Shochat, the firm has grown into an equal partnership of four investors who emphasize "high-touch, partner-level service" over transactional capital deployment. Aleph runs Ampliphy, described on its site as "an operating system to service entrepreneurs by automating serendipity and creating goodwill at scale" - a dedicated platform-support function that connects portfolio founders to talent, customers, and follow-on capital. The firm is sector-agnostic within its geographic mandate, backing companies across software, financial services, deep tech, healthcare, real estate, HR, cybersecurity, and consumer internet, so long as the founding team is building from Israel.
Stage Focus
Aleph leads Seed and Series A rounds as its primary entry points, occasionally participating at pre-seed for exceptional technical or repeat founders and following on into later rounds for existing portfolio companies (e.g., participation in Melio and Lemonade's growth rounds prior to their respective exit/IPO events).
Check Size
The firm does not publish explicit check-size bands on its website or in press materials. Given a $850M AUM across four funds and a portfolio of ~70 companies since 2013, typical initial checks are estimated in the $1M-$10M range for Seed/Series A leads, though this figure is not independently confirmed and should be treated as low confidence.
Lead Tendency
Aleph positions itself explicitly as a round leader: "Aleph leads Seed and A rounds in a wide gamut of companies." Recent activity (e.g., the August 2026 $6M pre-seed in Inevitable AI Group) confirms the firm continues to take the lead investor role rather than filling out syndicates.
Recent Activity
Aleph has raised four funds to date: Fund I ($150M, 2013), Fund II ($180M, 2016), Aleph III ($200M, closed December 2019), and Aleph IV ($300M, closed December 2021), bringing cumulative AUM to $850M. The firm remains an active investor, having made at least 3 new investments in the trailing 12 months as of early 2026, most recently leading a $6M pre-seed round in Inevitable AI Group (an AI-native software venture studio) in August 2026. The firm has not announced a Fund V as of this research.
Portfolio Highlights
Aleph's portfolio includes 10 unicorns, 4 IPOs, and 15 acquisitions across its ~70 investments. Public-market outcomes include Lemonade (NYSE: LMND), Freightos (NASDAQ: CRGO), and WeWork (NYSE: WE, later restructured). Notable acquisitions include Melio (acquired by Xero for $2.5B, closed October 2025), Fullpath (acquired by Cox Automotive), Frank (acquired by JPMorgan Chase), Houseparty (acquired by Epic Games), TinyTap (acquired by Animoca Brands), Raftt (acquired by Wiz for an estimated $40-50M, December 2023), Luminate (acquired by Symantec), Geoquant (acquired by Fitch Ratings), MyInterview (acquired by Radancy), Approve (acquired by Tipalti), Colu (acquired by HBSS Connect), and Windward (acquired by FTV Capital). Other prominent active portfolio names include monday.com, HoneyBook, Bringg, Coralogix, Placer.ai, Unit, daily.dev, NextSilicon, Healthy.io, and SparkBeyond.
Team
- Michael Eisenberg - Equal Partner / Co-Founder. 25+ years as a venture investor; earlier led investments including Wix and WeWork. Runs the "Six Kids And A Full Time Job" newsletter/podcast on Medium.
- Eden Shochat - Equal Partner / Co-Founder. Describes himself as a "Software Poet by Birth, Venture Capital Investor by Profession." Co-founded Aleph with Eisenberg in 2013.
- Yael Elad - Operating Partner. Joined Aleph in July 2013 from Genesis, where she managed one of the firm's major LP relationships; previously CFO and founder of Kiminis.
- Tomer Diari - General Partner. Joined Aleph in 2021 after five years as VP at Bessemer Venture Partners (Israel and San Francisco offices), where he backed Auth0, Habana Labs, Axonius, Melio, and DriveNets. Served six years in IDF Unit 8200.
Decision Process
Aleph operates as an equal partnership of four investors rather than a solo-GP or large investment-committee structure, consistent with its "equal partner" titling for the two founders and general/operating partner titles for the other two.
Founder Preferences
Aleph consistently backs Israeli founding teams building for global markets - both technical founders in deep tech/infrastructure (NextSilicon, Coralogix, SparkBeyond) and product-led consumer/fintech founders (Lemonade's Daniel Schreiber, HoneyBook's Oz and Naama Alon, Melio's Matan Bar). The firm's public messaging around "goodwill at scale" and "automating serendipity" suggests a preference for founders willing to lean into a high-touch platform relationship rather than pure capital-only engagement.
Geographic Focus
Aleph invests exclusively in companies founded by Israeli entrepreneurs, headquartered in or originating from Israel (Tel Aviv-centered), regardless of where the company ultimately scales its commercial operations globally.