🧠 Food for thought

Implications, context, and why it matters.

Hetz’s $1B in portfolio exit value doesn’t reveal how much cash Limited Partners (LPs) got back

• The $1 billion exit value sounds big but omits DPI (distributions to paid-in capital), which tracks cash returned versus money invested 1.
• Intel bought Granulate in 2022, Armis acquired Silk Security in 2024, and SentinelOne acquired Prompt Security in 2025. Without Hetz’s stakes or deal prices, no one can know if those sales produced real gains or only headlines 1.
• Hetz manages $500M across four funds over 8 years and has not shared fund sizes, deployment pace, or TVPI (total value to paid-in capital). That gap makes it hard to judge if it can lead early financings in cybersecurity and AI infrastructure where larger commitments matter 1.

Israeli cyber and AI startups need hands-on help to scale globally

• Hetz set aside $140M for cybersecurity, data, and AI infrastructure startups. These teams will need cloud credits plus sales help, hiring support, and security tool partners. That creates openings for Amazon Web Services (AWS), Microsoft Azure, and Google Cloud to run startup programs for Hetz portfolio companies 2.
• Enterprise vendors with co-investors can track Hetz-backed startups like Majestic Labs and BlinkOps. They can offer design partnerships, integrations, or follow-on investment before these teams reach Series A 1.
• Recruiters plus human resources (HR) platforms in Israeli tech can use the Hetz portfolio to spot engineering and product teams in Tel Aviv’s cyber scene. ServiceNow will pay $7.75B for Israeli cybersecurity company Armis, which signals buyer demand 2.