# Team8 Capital
Team8 Capital is the classic venture capital arm of Team8, an Israeli venture group and company-creation foundry founded in 2014[6](https://www.timesofisrael.com/backed-by-walmart-and-cisco-israels-team8-raises-365m-to-help-build-ai-startups/) • [3](https://team8.vc/announcing-vc-ii-doubling-down-on-the-israeli-ecosystem/); the Capital arm makes seed and Series A investments, primarily in startups founded outside Team8's own foundry, and its funds are managed from [Tel Aviv](https://www.edgepedia.org/tel-aviv) by Team8 Ventures Management Company Ltd, an SEC-registered adviser reporting $1 billion to less than $10 billion in assets.[1](https://reports.adviserinfo.sec.gov/reports/ADV/309017/PDF/309017.pdf) The firm is active, with its third fund filed with the SEC in July 2025 and amended in August 2026.[2](https://www.sec.gov/Archives/edgar/data/2076070/0002076070-26-000001.txt)
According to the firm's own account, the Capital arm was created as the complement to Team8's "venture-creation" foundry, which identifies and validates market problems, and builds companies around them. Capital backs strong companies founded outside Team8, and launched roughly five years after the foundry itself.[3](https://team8.vc/announcing-vc-ii-doubling-down-on-the-israeli-ecosystem/) The two arms overlap in practice: Talon Cyber Security and Dig Security, both Team8-created companies, also sat in the Capital portfolio, and both were sold to [Palo Alto Networks](https://www.edgepedia.org/palo-alto-networks).[3](https://team8.vc/announcing-vc-ii-doubling-down-on-the-israeli-ecosystem/) • [6](https://www.timesofisrael.com/backed-by-walmart-and-cisco-israels-team8-raises-365m-to-help-build-ai-startups/)
| Fact | Detail |
|---|---|
| What it is | Venture capital arm of Team8, the Israeli foundry and venture group[3](https://team8.vc/announcing-vc-ii-doubling-down-on-the-israeli-ecosystem/) |
| Headquarters | Totzeret Haaretz St. 7, Tel Aviv, Israel[2](https://www.sec.gov/Archives/edgar/data/2076070/0002076070-26-000001.txt) |
| Managing partners | Sarit Firon and Liran Grinberg; Partners Ori Barzilay and Hadar Siterman[4](https://www.calcalistech.com/ctechnews/article/h1utecy8fx) |
| Stage and sectors | Seed and Series A; cybersecurity, software infrastructure/AI, fintech, digital health[5](https://team8.vc/raising-our-third-fund-when-the-rules-keep-changing/) |
| Funds | Capital I (2020), II (2022), III (2025); group AUM nearly $2B across eight funds since 2014 (firm claim)[5](https://team8.vc/raising-our-third-fund-when-the-rules-keep-changing/) |
| Exits | Talon and Dig to Palo Alto Networks (~$1B combined); Koi Security, reported ~$400M, February 2026[6](https://www.timesofisrael.com/backed-by-walmart-and-cisco-israels-team8-raises-365m-to-help-build-ai-startups/) |
| Status | Active; Fund III Form D/A filed 2026-08-18[2](https://www.sec.gov/Archives/edgar/data/2076070/0002076070-26-000001.txt) |
## History and people
Team8 was founded in 2014 by Nadav Zafrir, a former commander of the Israeli army's [Unit 8200](https://www.edgepedia.org/unit-8200), together with 8200 veterans Liran Grinberg and [Israel Grimberg](https://www.edgepedia.org/israel-grimberg). Its backers include Walmart, Cisco, Microsoft, Nokia, and Barclays.[6](https://www.timesofisrael.com/backed-by-walmart-and-cisco-israels-team8-raises-365m-to-help-build-ai-startups/) The Capital investment arm followed about five years later.[3](https://team8.vc/announcing-vc-ii-doubling-down-on-the-israeli-ecosystem/)
Leadership: Team8 Capital is managed by Managing Partners Sarit Firon and Liran Grinberg, with Partners Ori Barzilay and Hadar Siterman.[4](https://www.calcalistech.com/ctechnews/article/h1utecy8fx) The Form D/A for Fund III lists Firon, Grinberg, and Hadar Siterman Norris as executive officers; Firon signed the amendment on 2026-08-17 as Director of the GP of the GP.[2](https://www.sec.gov/Archives/edgar/data/2076070/0002076070-26-000001.txt) An investor directory describes Firon as co-founder of Team8 Capital and a former CFO of MediaMind through its Nasdaq IPO and $517 million acquisition; this biographical detail is unverified beyond the directory.[7](https://fundraisingfox.com/investors/team8) Related group vehicles name other officers: Roy Heldshtein (who signed the management company's Form ADV and earlier Fund filings as CFO & COO), Yuval Shachar, and [Amir Zilberstein](https://www.edgepedia.org/amir-zilberstein).[1](https://reports.adviserinfo.sec.gov/reports/ADV/309017/PDF/309017.pdf)
## Strategy
Team8 Capital invests at the Seed and Series A stages across cybersecurity, software infrastructure, fintech, and digital health, with stated focus areas that include AI infrastructure, orchestration, identity, data, and security.[5](https://team8.vc/raising-our-third-fund-when-the-rules-keep-changing/) Fund III targets seed and Series A rounds of about 16 Israeli-founded AI startups, with typical checks of $5 million to $10 million per startup.[6](https://www.timesofisrael.com/backed-by-walmart-and-cisco-israels-team8-raises-365m-to-help-build-ai-startups/) Before raising Fund II the firm said it had evaluated over 600 Israeli companies in a year.[3](https://team8.vc/announcing-vc-ii-doubling-down-on-the-israeli-ecosystem/)
The relationship with the foundry cuts both ways. Capital is presented as the vehicle for companies founded outside Team8, yet Team8-created companies such as Talon and Dig appear in its portfolio,[3](https://team8.vc/announcing-vc-ii-doubling-down-on-the-israeli-ecosystem/) so the firm's structure mixes foundry-backed company creation with conventional external investing. As of March 2024 the group had built 20 companies, invested in 21 more, and achieved eight exits, supported by a "Team8 Village" network and a platform team of more than 80 company builders (company press release).[8](https://www.businesswire.com/news/home/20240305466579/en/Team8-Raises-%24500M-in-New-Funds-for-Building-and-Investing-in-Cyber-Data-Infrastructure-AI-Fintech-and-Digital-Health-Startups)
## Funds by the numbers
SEC Form D filings and firm announcements give different figures for the same funds, because Form D reports the amount actually sold at a point in time while announcements state closing totals. Both are recorded here.
**Team8 Capital I** (2020 vintage): Form D first filed 2020-02-07 reported $104,350,000 sold; the firm states the first fund totaled $160 million across 12 investments.[3](https://team8.vc/announcing-vc-ii-doubling-down-on-the-israeli-ecosystem/)
**Team8 Capital II** (2022 vintage): Form D first filed 2022-05-03 reported $221,993,750 sold; the firm states $235 million, with over 50% from institutional investors.[3](https://team8.vc/announcing-vc-ii-doubling-down-on-the-israeli-ecosystem/) A March 2024 press release confirmed the $235 million second venture capital fund as part of a $500 million multi-fund close that also included a $110 million third Venture-Creation Enterprise Fund, a $70 million first Digital Health Fund and about $85 million in follow-on funds.[8](https://www.businesswire.com/news/home/20240305466579/en/Team8-Raises-%24500M-in-New-Funds-for-Building-and-Investing-in-Cyber-Data-Infrastructure-AI-Fintech-and-Digital-Health-Startups)
**Team8 Capital III** (2025 vintage): the original Form D was filed 2025-07-22.[2](https://www.sec.gov/Archives/edgar/data/2076070/0002076070-26-000001.txt) In 2026 the firm and journalists reported a $265 million third fund plus more than $100 million earmarked for follow-on investments, bringing Team8 to nearly $2 billion in assets under management across eight funds since 2014.[4](https://www.calcalistech.com/ctechnews/article/h1utecy8fx) The Form D/A filed 2026-08-18 declined to disclose the offering amount and reported 32 investors, so the final Fund III amount is not on file with the SEC.[2](https://www.sec.gov/Archives/edgar/data/2076070/0002076070-26-000001.txt)
Around the flagship funds sit group vehicles at the same Tel Aviv address: [Team8 Follow-On Fund](https://www.edgepedia.org/team8-follow-on-fund), L.P. reported $74,900,000 sold with 32 investors (Form D/A, July 2022),[9](https://www.sec.gov/Archives/edgar/data/1877175/000187717522000002/0001877175-22-000002.txt) and Team8 Co-Invest, L.P. (renamed from Team8 Enterprise Foundry Co-Invest in August 2021) reported $49,245,920 sold with 45 investors in July 2025.[10](https://www.sec.gov/Archives/edgar/data/1880133/0002052697-25-000026.txt) Team8 Enterprise Partners III SA Fund, L.P., a 2023 side fund, filed in March 2024 without disclosing its amount.[11](https://www.sec.gov/Archives/edgar/data/2013476/000200894524000006/0002008945-24-000006.txt)
## Portfolio and exits
The firm's headline exits are two Team8-created companies sold to Palo Alto Networks: Talon Cyber Security for $625 million and Dig Security for $315 million (firm's own claim),[3](https://team8.vc/announcing-vc-ii-doubling-down-on-the-israeli-ecosystem/) about $1 billion combined.[6](https://www.timesofisrael.com/backed-by-walmart-and-cisco-israels-team8-raises-365m-to-help-build-ai-startups/) Koi Security, a Fund III investment, was reportedly acquired by Palo Alto Networks for about $400 million in February 2026; the price is reported and estimated rather than confirmed by the parties, and the firm's own blog notes the acquisition without a price.[4](https://www.calcalistech.com/ctechnews/article/h1utecy8fx)
Beyond exits, Team8's portfolio companies have raised about $1 billion from venture investors in total, including about $762 million in the year to early 2026; named examples include Classiq (over $200 million raised to date), FundGuard ($100 million round), and Port ($100 million round at an $800 million valuation).[4](https://www.calcalistech.com/ctechnews/article/h1utecy8fx) Nine investments had already been made from Fund III during its fundraising year.[4](https://www.calcalistech.com/ctechnews/article/h1utecy8fx)
## References
Team8 Capital's funds file with the SEC under manager Team8 Ventures Management Company Ltd; the fund-level records above draw on EDGAR Form D filings and the adviser's Form ADV.
1. Form ADV — Team8 Ventures Management Company Ltd (CRD 309017). https://reports.adviserinfo.sec.gov/reports/ADV/309017/PDF/309017.pdf
2. Form D/A — Team8 Capital III, L.P. (filed 2026-08-18). https://www.sec.gov/Archives/edgar/data/2076070/0002076070-26-000001.txt
3. Announcing VC II: Doubling Down on the Israeli Ecosystem — Team8. https://team8.vc/announcing-vc-ii-doubling-down-on-the-israeli-ecosystem/
4. Team8 raises $365 million as AI widens the gap between adoption and security — Ctech/Calcalist. https://www.calcalistech.com/ctechnews/article/h1utecy8fx
5. Raising Our Third Fund When the Rules Keep Changing — Team8. https://team8.vc/raising-our-third-fund-when-the-rules-keep-changing/
6. Backed by Walmart and Cisco, Israel's Team8 raises $365m to help build AI startups — The Times of Israel. https://www.timesofisrael.com/backed-by-walmart-and-cisco-israels-team8-raises-365m-to-help-build-ai-startups/
7. Team8 — Investment Thesis, Check Size & Team | Fundraising Fox (unverified directory). https://fundraisingfox.com/investors/team8
8. Team8 Raises $500M in New Funds (Business Wire, March 2024). https://www.businesswire.com/news/home/20240305466579/en/Team8-Raises-%24500M-in-New-Funds-for-Building-and-Investing-in-Cyber-Data-Infrastructure-AI-Fintech-and-Digital-Health-Startups
9. Form D/A — Team8 Follow-On Fund, L.P. (filed 2022-07-25). https://www.sec.gov/Archives/edgar/data/1877175/000187717522000002/0001877175-22-000002.txt
10. Form D/A — Team8 Co-Invest, L.P. (filed 2025-07-16). https://www.sec.gov/Archives/edgar/data/1880133/0002052697-25-000026.txt
11. Form D/A — Team8 Enterprise Partners III SA Fund, L.P. (filed 2024-03-05). https://www.sec.gov/Archives/edgar/data/2013476/000200894524000006/0002008945-24-000006.txt
---
*Topic: Encyclopedia › Society and history › Economics and business › Finance › Venture capital and private equity › Venture capital firms of the Americas › Enterprise software and cloud investors › Titles J to Y*
*Initially written Sep 17, 2026 · Edited: Oct 11, 2026; Oct 15, 2026; Oct 25, 2026*
*Copyright 2026 EdgeChat AI, a subsidiary of Biostate AI.*
License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license