Entree Capital, a global venture capital fund, announced its plans on Tuesday. $300 million was raised by Israel for two new early-stage venture capital funds with a focus on Israeli startups.
The move will bring the amount under management to $1 billion, the company said.
With the new funding, Entree intends to invest substantially in the DeepTech, FinTech, SaaS (Software as a Service), Web 3.0 – Crypto/Blockchain – Data/Cloud Infrastructure, as well as consumer and foodtech sectors.
Pre-seed and seed funding for Israeli startups will be provided by Israel Early Stage Fund IV. Funding deals of $500,000 to $6 million are expected to be offered. In its Israel Early Growth Fund II, Entrée is investing $5 million to $15 million in early-stage rounds – series A and B – to qualify for participation in other deals, such as leading or being a lead investor or participant.
Having backed more than 130 Israeli companies over the past decade, including Monday.com and Riskified, Entree said it has exited 27 of them and created 15 unicorns, companies valued at more than $1 billion.
In its portfolio companies, Entree reported a combined value of $335 billion.