After American pivot, EF is still going strong

Entrepreneur First (EF), founded in 2011 by Matt Clifford and Alice Bentinck in London, pioneered the “talent investing” model — backing individuals pre-team and pre-idea to co-found deep tech startups. Rather than scouting startups, EF scouts exceptional individuals.

Initially focused on London, EF rapidly expanded into Singapore, Berlin, Paris, Bangalore, and Toronto. But by 2023, it consolidated operations to four hubs: London, Paris, Bangalore, and New York. The strategic pullback aimed to prioritize quality and funnel all founders through a new Silicon Valley phase — maximizing exposure to U.S. capital markets. Seven of EF’s 11 most recent companies were incorporated in the U.S., and founders like Sartor Technologies now decamp from London to San Francisco within months of forming.

The shift reflects EF’s larger American tilt under Bentinck, who became CEO in 2023 while Clifford became Chairman. EF now channels many of its most promising teams to San Francisco for a final “sprint,” seeking U.S. validation and funding. Bentinck says the Bay Area still holds unmatched appeal for world-class technical talent.

EF has raised significant backing — $12.4M from Reid Hoffman in 2017, a $115M fund in 2019, and a $158M Series C in 2022 from elite tech founders. It has helped launch 800+ startups worth $10B+ on paper, including unicorns like Tractable and exits like Magic Pony (acquired by Twitter for ~$150M). But cumulative exits remain modest at ~$800M — and EF lacks a breakout household name like Stripe or Airbnb.

While its public profile has quieted, EF is evolving, not fading. It now emphasizes deeper founder relationships, fewer programs, and bridging UK/EU talent into U.S. venture capital networks. Its long-term bet: Silicon Valley gravity can fuel global ambition — and someday cycle that momentum back to Europe.

More: Economist