Podcast Summary: "The Investor with Joel Palathinkal"

Episode: Kfir Kachlon: AnD Ventures

Date: September 24, 2025
Host: Dr. Joel Palathinkal
Guest: Kfir Kachlon, AnD Ventures

Overview

This episode features a candid, in-depth conversation between Dr. Joel Palathinkal and Kfir Kachlon, partner at AnD Ventures, an early-stage venture capital firm based in Israel. The discussion covers Kfir’s unconventional path from law to venture capital, navigating the vibrant Israeli tech ecosystem, deep tech investing, the future of food, the role of mentorship, and practical wisdom for both founders and investors. The pair also reflect on industry best practices, the importance of relationships, and personal lessons learned from failure.

Kfir’s Career Journey: From Law to Venture Capital

[01:02 – 10:07]

• Tech-Driven Upbringing:

  • Kfir credits his childhood immersed in computer gaming and hardware as the root of his tech fascination.
    • "As a child, I was maybe that generation that was lucky enough to be between the highly sophisticated computers to the very dumb ones... We were breaking down computers and waiting for the next Nvidia or whatever graphics and card to come out." – Kfir [01:15]

• Legal Background:

  • Post-Israel army service, Kfir attended law school, entering high-tech-focused legal practice.
  • Crafted legal frameworks for startups and wrote contracts such as software licenses, but felt like an “officiant at a wedding” rather than a participant.
    • "I wanted to be the couple themselves, somebody on the couple's side…” – Kfir [02:57]

• Shift to Venture:

  • Inspired by the desire to be closer to the entrepreneurial process, he transitioned into venture capital, leveraging his legal skills while adopting a new mindset.

Superpowers of Lawyers Turned VCs

[04:32 – 08:55]

• Analytical Edge & Cynicism:

  • Lawyers-turned-VCs benefit from cynicism, attention to detail, and fast analytical skills essential for due diligence.
    • "You develop ... very OCD approach where everything has to be filed. ... the cynicism, because you will sit with thousands of entrepreneurs ... and you need to be ... to the point and really understand what they're trying to sell." – Kfir [04:32]

• Limits of Being a “Jack of All Trades”:

  • Acknowledges that legal skills can’t (and shouldn’t) replace specialty legal functions in fund management.

Early-Stage Investing, Founder Selection & Sector Focus

[08:55 – 15:06]

• Balancing Cynicism and Instinct:

  • Cynicism is applied to the idea, not the person; personal connection and trust in founders are pivotal.
    • "It's most cynicism towards the idea. ... The people, you know, I think those are things ... it's very hard to quantify." – Kfir [10:07]

• Sector Agnosticism, Deep Tech Preference:

  • AnD Ventures is sector agnostic but prioritizes companies with deep technical differentiation.
  • Example: Lemonade, which digitized insurance via data-driven processes.
    • “You pop the hood, and you look at it, in the hood they have amazing technology...” – Kfir [13:40]

Trends in Food Tech and Deep Tech

[15:17 – 19:43]

• Lab-Grown Seafood’s Promise:

  • Diverse drivers: sustainability, safety, ability to feed growing populations.
  • Cites companies like Finless Foods and BlueNalu, predicting consumers will pay a premium for safer, cleaner products.
    • "I really believe in the lab grown fish or seafood alternatives. ... The oceans are overfished. There's a lot of metals found in the fish itself. ... If you take the vision of companies like Finless and Blue Nalu, then their meat ... are safe to eat by everybody." – Kfir [15:57]

• Impact Crossover:

  • These investments offer both risk-adjusted returns and measurable ecosystem impact.
    • “It speaks very loud … you know, 18% of the emissions … comes from farming animals ... and two thirds of the agricultural land ... just utterly unsustainable." – Kfir [19:43]

Excitement in Data & AI, eSports, Edge Computing

[21:30 – 29:21]

• Data Infrastructure for AI:

  • Kfir highlights Dataloop (his last investment at OurCrowd) and the critical need for data infrastructure to fuel ML/AI innovation.

• AI in Gaming and Beyond:

  • Analyzed a company building an AI coach for esports, illustrating the transferability of gaming technology to other industries.
    • "There's a company ... developing ... an AI engine to train you to be a better gamer, video gamer." – Kfir [21:30]

• Edge Computing Use Cases:

  • The importance of on-device AI, especially in autonomous vehicles and mobile devices.
    • "Future cars ... you go into a tunnel, then you lose connectivity. ... The sensors ... have to identify in real time what's happening ... This is cool, this is a very interesting." – Kfir [27:05; 29:21]

The Israeli VC Ecosystem & Generalist vs. Specialist Strategies

[29:21 – 38:02]

• Diverse, Dynamic Market:

  • Israel features both sector-oriented (cybersecurity, fintech) and stage-oriented funds.
    • "Although a very small country on the map, there's a huge ecosystem of innovation and startups here.” – Kfir [30:06]

• Pros/Cons of Generalist Funds:

  • Specialist (sector-focused) funds more easily attract deal flow and LPs when their thesis is “hot.”
  • Generalists must leverage networks and instincts to spot “the next big thing,” growing expertise dynamically.
    • "If you're agnostic, ... you raise your chances of meeting the next unicorn that in a whole new industry you never thought about." – Kfir [36:55]

• Collaboration Among Funds:

  • Emphasizes importance of relationships and knowledge-sharing with other VCs, investing in founder-friendly reputation.
    • "You become good at what you do in this industry because ... you know how to play it. ... Don't be an asshole." – Kfir [39:37]

Life Lessons, Mentorship, & Advice for Founders

[41:53 – End]

• Reputation & Relationships:

  • The VC world is small; being ethical and helpful strengthens deal flow and trust.
  • Rejected founders are worthy of thoughtful feedback and connections.
    • "There's no entrepreneur that I would not sit with ... If it's a fit, it's a fit. And if not, ... connect them to somebody…” – Kfir [42:47]

• Mentoring the Next Generation:

  • Passing on knowledge and opportunity is vital for a vibrant ecosystem.
    • “Mentoring is the most important thing you can do in our ecosystem.” – Kfir [45:54]

• Learning from Failure:

  • Joel shares the lesson of not prioritizing money over happiness and fit.
    • “I failed focusing too much on money instead of ... opportunities that pay less that set me up in the right direction." – Joel [48:54]
  • Kfir: "Trust your gut."
    • "...a lot of times when you look at the company, you look at a founder, you feel something ... We cannot explain why we feel them ... but you know, if it’s not that, it’s not that." – Kfir [52:07]

• Reverse Mentoring:

  • Importance of learning from younger generations.
    • "Don't be a snob and open up and work with the younger people. They are amazing." – Kfir [48:22]

Notable Quotes & Timestamps

• “Lawyers that find their ways to VC ... were sick of being assholes when they were lawyers.”
  — Kfir [06:53]

• “You are here because of the entrepreneurs. ... They are not here because of you.”
  — Kfir [41:11]

• “Mentoring is the most important thing you can do in our ecosystem. ... If you do good in the world, then the world will do good for you.”
  — Kfir [45:54]

• “Trust your gut. ... Not trusting your gut, for me, it worked very bad.”
  — Kfir [52:07]

• “If you just, in general, are not a jerk and try to be valuable to other people, ... the universe somehow works itself out.”
  — Joel [45:09]

Key Segment Timestamps

• Kfir's Tech & Legal Background: [01:02 – 04:32]
• Lawyer to VC: Skills & Perspective: [04:32 – 07:18]
• VC vs. Legal Hat; Early-Stage Philosophy: [07:18 – 10:59]
• Picking Founders, Sector Strategy: [10:59 – 15:06]
• Future of Food & Impact Investing: [15:17 – 21:07]
• Excitement in Data/AI/esports/Edge: [21:30 – 29:21]
• Israeli Ecosystem, Generalist vs. Specialist: [29:21 – 38:02]
• Deal Sourcing, Collaborating with VCs: [38:02 – 41:53]
• Life Lessons, Mentorship, Failure: [45:41 – End]

Takeaways for Aspiring Investors & Founders

• Be Analytical but Trust Instincts: Combine structured diligence with gut feel.
• Relationships Matter: Reputation, collaboration, and giving back drive long-term success.
• Mentorship Pays Forward: Supporting the next generation elevates the whole ecosystem.
• Stay Flexible: Sector agnosticism and early-stage investing demand agility and curiosity.
• Global Trends, Local Context: The Israeli ecosystem offers insights into how small markets can drive global innovation.

For further context, listen to the full episode for real stories, laughter, and deeper engagement between two experienced investors navigating the evolving world of venture capital.