Entrée Capital has recently shared an update titled, A Renaissance in Israel’s high tech ecosystem in the year ahead (2024).
Entrée Capital, which claims to partner with the “exceptional” to build the “impossible,” says that they remain steadfast in their commitment to supporting Israel.
The past few months have reaffirmed their belief “in Israel’s unique ecosystem, its innovation and resilience.”
Looking ahead to 2024, they expect “a transformative rebound in Israel’s tech landscape in Q2-24.”
According to the update, the catalyst for this rebound “will come from, (i) investors who start a new year with fresh capital as well as capital ‘benched’ during the global tech uncertainty of the past 18 months; (ii) acknowledgement by startups of the reset in valuations that is due; (iii) new innovations that mature into commercialization; and (iv) global macroeconomic factors.”
They are optimistic that a tech renaissance in Israel is “around the corner, tied to unity and political certainty that we hope will emerge.”
Israeli startups will keep “contributing to the development of a more robust and globally recognized tech ecosystem.”
As noted by the firm’s management, Entrée Capital was founded in 2010 to “provide multi-stage funding to innovative seed, early and growth-stage companies all over the world.”
Entrée Capital claims that it “manages over $1.2 billion across nine funds and has invested in over 180 startups such as monday.com, Snap, Stripe, Deliveroo, PostMates, Riskified, FundBox, Toka Cyber, Kuda Bank, Stash, PillPack, Gusto, Cazoo, Coupang, Glovo, and more. With offices in Israel, UK, and the US, Entrée Capital has realized 30 exits and IPOs and its portfolio has 18 unicorns.”
As covered recently. OurCrowd announced last November the creation of the Israel Resilience Fund – launched following the terrorist attacks by Hamas. Israel is a top center of innovation and entrepreneurship, and OurCrowd is one of the leading investors in early-stage firms in Israel.
The attacks upended the entire Israeli society as the country rushed to defend itself. OurCrowd said it would be supporting portfolio companies both with new and follow-up funding rounds that have been impacted by the war with Hamas. OurCrowd also explained that companies that are providing tech that helps to support the ongoing crisis will be part of this new fund.
In the past days, OurCrowd has announced that it has made eight initial investments for companies receiving “emergency funds.” The first investments include four companies that are new to OurCrowd.
The companies receiving funding include BlueTree Technologies and Carrar, which had to relocate due to the war, and Edgybees, which is helping Israeli forces with its aerial imagery analysis platform.
