Hetz Ventures Research
Investment Thesis
Hetz Ventures is a specialized seed-stage VC fund focused exclusively on Israeli founders building infrastructure software, data/AI systems, and cybersecurity solutions with global ambitions. The firm believes that Israeli engineers have a distinct competitive advantage in building deep infrastructure products, and they partner with founders from day one to transform technical excellence into category-defining companies. Their approach combines technical founder empathy (teams are ex-engineers) with a global network of 120-150 senior data/AI/infrastructure executives.
Sector Focus
Hetz invests across three primary verticals with intentional specialization:
Data & AI/ML Infrastructure: Companies building foundational data systems, ML validation platforms, real-time data processing, and data observability. Focus on data as the critical leverage point for enterprise AI. Recent: Fundamental (predictive analytics), Lumida, Upriver (data contracts).
Cybersecurity & Zero-Trust: Specialized focus on modern security infrastructure, GenAI security, supply chain security, and identity-driven platforms. Exits include Silk Security (acquired by Armis for $150M) and Prompt Security (acquired by SentinelOne). Active: BlinkOps (security automation copilot, $50M+ funding), Infinipoint (zero-trust workforce access), Gomboc (cloud security remediation).
Infrastructure & Developer Tools: CI/CD platforms, observability, code infrastructure, and productivity tools. Portfolio: Tabnine (AI code assistant), Velocity (on-demand production environments), Digma (developer observability), Flox (developer infrastructure).
Secondary focus areas: Applied AI agents (Tymely for customer support, Anima for design-to-code), FinTech infrastructure (Lama AI for lending, Clyr for expense automation), and selective gaming/entertainment bets (Gankster).
Stage Focus & Check Size
Seed-stage specialists: 85% of seed rounds are led by Hetz. Average check size: $1M-$10M range. Stage preferences: Pre-seed and Seed (primary), occasional Series A follow-ons for winners.
Investment speed: 20 days average from first meeting to term sheet, signaling efficient decision-making and respect for founder time.
Lead Tendency
Strong lead bias (85% of seed rounds led): Hetz consistently leads seed rounds and co-leads Series A rounds for portfolio companies. They take initiative in structuring rounds and setting terms, with clear thesis conviction on category creation in their focus areas.
Recent Activity & Fund Status
Fund IV announced January 2026: $140M specifically for Israeli cyber and AI startups. Portfolio trajectory shows active deployment with recent investments in late 2025-early 2026:
- Fundamental: $255M Series A (Feb 2026) - co-investor
- Lumida: Recent 2025 funding
- Majestic Labs: $100M raise (Jan 2026) - ex-Google/Meta executives building AI infrastructure
- Tonic Security: $7M seed (2025)
Notable exits (last 3 years):
- Granulate (acquired by Intel, 2022) - optimization software
- Silk Security (acquired by Armis, 2024) - $150M deal
- Prompt Security (acquired by SentinelOne, 2025) - GenAI security
- Seekret (acquired by Datadog) - code debugging
- Revrod (acquired by Torq) - revenue intelligence
- Runhouse (acquired by Datadog)
- Market Beyond (acquired by Bright Data)
Portfolio scale: 45+ active companies across focus verticals.
Team Expertise
Judah Taub (Managing Partner, Co-Founder): Former Head of Data at Lansdowne Partners ($20B hedge fund), Israeli intelligence unit officer. Deep expertise in data systems and strategic thinking.
Pavel Livshiz (General Partner): Leads cyber investment strategy. Portfolio includes Silk Security (Armis), Prompt Security (SentinelOne), BlinkOps. Specializes in category-defining cyber platforms.
Guy Fighel (Partner & Head of Hetz Data Program): 25+ years tech leadership. Former SVP & GM at New Relic, co-founder of SignifAI (acquired by New Relic). 20+ patents. Expertise in distributed systems, ML, DevOps.
Itamar Mula (Principal): Three-time founder (exits to KamaGames, Rakuten, Via). Former IDF military intelligence engineer.
Supporting Ecosystem
Hetz Executive Network: 120-150 senior data/AI/infrastructure executives for portfolio founder validation, GTM strategy, and early customer introductions.
Hetz Data Program: Specialized offering for data/AI founders launched July 2023. Includes operational support for building data teams and positioning.
Competitive Advantages
- Technical founder team: Co-founder Judah from hedge fund data systems, partners with deep infrastructure experience (New Relic, Zynga, IDF)
- Speed: 20-day average from meeting to term sheet creates founder preference
- Specialized expertise: Deep focus on data/infrastructure/cyber vs. generalist approach
- Israeli sourcing advantage: Military intelligence pipeline gives unique deal flow
- Executive network: 120+ senior executives for validation and customer access
- Exit track record: Multiple 9-figure exits validating thesis
Fund Evolution
- Fund I (2018): $55M
- Fund II (2020): $77M
- Opportunity Fund (2022): $27M
- Fund III (2022): $123M
- Fund IV (2026): $140M
- Total AUM: $500M
Founded 2018, Hetz has become one of Israel's most active seed VCs with clear specialization. Recent $140M Fund IV announcement (Jan 2026) positions firm for next growth phase.