Entrée Capital Research
Investment Thesis
Entrée Capital, founded around 2010 by serial entrepreneurs Avi Eyal and Ran Achituv, is a global multi-stage venture capital firm managing $1.5 billion across 11 funds, with offices in Tel Aviv, London, and New York. The firm's mission — "Partnering with the Exceptional to Build the Impossible" — reflects its deeply founder-centric ethos: almost every GP is a former founder or operator.
With its November 2025 announcement of $300 million in two new funds, Entrée is actively targeting five investment themes:
- Artificial Intelligence: vertical AI, AI-native applications, and enabling infrastructure
- Deep-Tech & Quantum Computing: compute, science-driven systems, advanced materials, and dual-use defense technologies
- Software, Data & B2B Productivity: particularly categories where AI resets low-software-spend incumbents
- Crypto: primarily infrastructure and security, as Web3 moves from speculation to institutional adoption
- Contrarian "Weird Is Wonderful" innovation: verticals the market ignores because historical software spend looks tiny — a thesis partner Saul Levin captures as "the less software these categories have bought in the past, the more violent and complete the reset will be"
Entrée also operates Entrée Bio, a dedicated life sciences sub-fund co-founded by former aMoon Partner Yael Gruenbaum-Cohen and former Moderna executive Michelle Lynn Hall, with advisory support from founding Alnylam CEO John Maraganore.
Sector Focus
Entrée invests across a wide range of verticals, but with identifiable clusters:
- Enterprise SaaS and AI-native software (monday.com, Alta, Guidde, Regal, Torii)
- FinTech and payments infrastructure (Rapyd, Kuda Bank, Fundbox, Re:cap, Zocks, Finom, Pagaleve, Payaut)
- Cybersecurity (Riskified, Talon, Cynomi, Lasso Security, Perimeter 81, PureSec)
- Deep-tech, quantum, and defense (Classiq, Quantum Art, Quantum Transistors, LightSolver, Toka, Air EV)
- Developer tools and data infrastructure (PointFive, Novu, BlinkOps, LambdaTest, Rivery)
- Healthcare and life sciences (Sensi.ai, Sweetch, Empathy, Eleven Therapeutics, Pheno.ai — plus broader Entrée Bio portfolio)
- eCommerce, food delivery, and consumer (Glovo, Coupang, Postmates, Deliveroo, SeatGeek)
- Crypto and Web3 (Solana, Mural, Freename, Sodot, Footium)
The portfolio category labels on the Entrée website include AI, Defense, Consumer, Crypto & Web3, Cybersecurity, DeepTech, DevOps & Data, E-Commerce & Consumer Tech, FinTech & InsurTech, FoodTech & AgTech, Games & Social, Health & Life Sciences, Logistics & Industry 4.0, PropTech, and SaaS.
Stage Focus
Entrée primarily invests at:
- Pre-Seed: first institutional money into companies
- Seed: lead or co-lead of seed rounds
- Series A: often the lead investor
- Growth-stage follow-ons: reserved for the strongest portfolio companies (monday.com seed through Series C; Rapyd)
The $300M new funds are explicitly targeted at pre-seed, seed, and Series A in Israel, the UK, Europe, and the US.
Check Size
Based on portfolio stage distribution and typical Israeli/London-based early-stage fund norms:
- Pre-Seed: approximately $250K–$1M
- Seed: approximately $1M–$5M
- Series A: approximately $5M–$15M
Entrée has been the first institutional investor in most landmark portfolio companies.
Lead Tendency
Entrée typically leads rounds, particularly at seed and Series A. They seeded monday.com and led the Series A, B, and C. They were first investor in BreezoMeter, Riskified, Darrow, and many others. They participate (non-lead) at growth stages for portfolio follow-ons.
Recent Activity
Entrée is actively deploying from two new funds ($300M total, closed November 2025). Key recent portfolio news:
- August 2026: PointFive raised a $60M Series B led by Accel; Entrée participated
- January 2026: Zocks raised $45M Series B (AI for financial advisors); Saul Levin led the investment from day one
- January 2026: Saul Levin promoted to Partner
- December 2025: Quantum Art raised $100M Series A for trapped-ion quantum computing
- December 2025: Shapes (formerly DreamTeam) raised $15M for AI-native HR platform
- November 2025: Announced $300M in two new funds
- October 2025: Archy raised $20M (AI dental practice OS)
- September 2025: Light raised $30M Series A (AI-native ERP)
- July 2025: Air EV raised $23M Series A for eVTOL aircraft
- March 2025: Yoni Osherov joined as General Partner (former monday.com CRO)
Portfolio Highlights
Entrée has 180+ portfolio companies with $165B+ in combined value and 43 exits and IPOs.
Major IPOs:
- monday.com (NASDAQ:MNDY) — Entrée seeded and led Series A through C; distributed $1.5B from a $45M fund, 37x DPI
- Riskified (NYSE:RSKD) — eCommerce fraud prevention
- Coupang (NYSE:CPNG) — Korean eCommerce leader; backed by Avi Eyal
- Deliveroo (LON:ROO) — UK food delivery
- Prospa (ASX:PGL) — Australian SME lending
Major Acquisitions:
- PillPack — acquired by Amazon
- BreezoMeter — acquired by Alphabet (Google) for $230M+; Entrée was first investor
- Weavy — acquired by Figma; Avi Eyal led the investment
Notable Active Portfolio:
- Rapyd — global fintech infrastructure platform
- Hibob (Bob) — HR and people management platform
- Darrow — AI for legal intelligence
- Sensi.ai — ambient AI for senior care
- Classiq — quantum computing software
- OpenWeb — social publishing platform
- Regal.io — AI-powered contact center
- Kuda Bank — African digital neobank
Team
- Avi Eyal, Co-Founder & Managing Partner — former serial entrepreneur; built Cura Software, Insight Technologies, ZenProp; co-founded SigmaLabs non-profit accelerator; Forbes European Midas List #1 (2023), Forbes Global Midas List #16 (2025); BSc Electrical Engineering, University of Natal
- Ran Achituv, General Partner — founded IDF Satellite Intelligence unit; former CTO at Amdocs; Kellogg MBA; serial entrepreneur; serves on Israel National Quantum Task Force
- Eran Bielski, General Partner — joined Entrée 2015; previously at J.P. Morgan financial restructuring and M&A; BA Business & Finance, Reichman University; guest lecturer in entrepreneurship
- Yoni Osherov, General Partner — former CRO at monday.com, scaled $10M to $1B+ ARR; joined Entrée 2025; previously VP Product Strategy at Verint; co-founded a startup acquired by Zap Group; BA Business Administration
- Saul Levin, Partner (promoted January 2026) — South African origin; previously investment banking and Google Dublin; focuses on European and US startups; backed Kuda, Light, Re:cap, Zocks, Archy; BA Economics & Finance, Reichman University
- Eli Dubnov, Partner — started at PwC; McKinsey associate; joined Entrée 2021; BA Business Management, Reichman University; MBA, Columbia Business School
- Maor Israeli, CFO and Partner — CPA background; worked at Ernst & Young and Aleph VC as controller; joined Entrée 2001
- Yael Gruenbaum-Cohen, Founder & GP (Entrée Bio) — DMD and PhD in molecular genetics (Hebrew University and Weizmann Institute); former Partner at aMoon; GM at Medison Ventures; co-founded WE@HealthTech
- Michelle Lynn Hall, GP (Entrée Bio) — PhD theoretical chemistry (Columbia); former Moderna and Eli Lilly executive; founded Lilly's Genetic Medicines group
Decision Process
Partnership model. Multiple GPs evaluate deals, with individual GPs leading specific investment areas (Ran Achituv for deep tech/quantum/defense; Avi Eyal for enterprise SaaS and consumer; Eran Bielski for AI and data; Saul Levin for European and US seed stage startups; Tomer Niv for crypto/Web3). First checks are sometimes made by individual partners before full partnership review.
Geographic Focus
- Israel and Tel Aviv (home base; deep tech, enterprise software, security)
- United Kingdom and London (UK consumer, fintech, deep tech)
- United States (New York-based; broad US coverage)
- Europe broadly (France, Germany, Spain, Nordic)
- Selective investments in Australia, Africa, Brazil, and South Korea
Founder Preferences
Entrée backs founders who want to change the world — particularly those with strong technical depth or domain expertise attacking large, underserved markets. The firm is run by founders, for founders: the GP team includes a former CRO (Yoni Osherov), a former IDF intelligence unit founder (Ran Achituv), and a managing partner who has started multiple businesses himself (Avi Eyal). They explicitly value resilience, fair terms, and true partnership. Their "Weird Is Wonderful" thesis rewards founders pursuing contrarian bets in industrial, regulatory, or legacy-software-starved verticals.