Encoded Ventures, a new early-stage venture capital firm founded by longtime investor Alex Benik, has officially launched, marking a renewed focus on innovation across cloud, data, and cybersecurity infrastructure.
Benik, a 20-year veteran of technology investing, previously spent 22 years at Battery Ventures, where he helped lead investments in companies such as Habana Labs, Cumulus Networks, Nobl9, Opsgenie, and Guardicore. Through Encoded Ventures, he now focuses on supporting technical founders at the earliest stages — inception, pre-seed, and seed — who are building the backbone of the AI-driven digital economy.
Encoded Ventures targets startups developing technologies in three critical areas: cloud infrastructure, data and AI infrastructure, and cybersecurity. Since establishing the firm in 2024, Benik has invested in 10 early-stage companies, including ConfigHub, DataFlint, Datum, Tenzai, Jazz Security, IPXO, and Atero AI — the latter of which was recently acquired by Crusoe. About half of Encoded’s portfolio companies are based in Israel, where Benik has been an active investor for over 15 years.
The firm distinguishes itself through deep technical expertise and hands-on involvement, helping founders move from ideation to IPO. By combining domain knowledge in enterprise software with an understanding of market timing and scaling challenges, Encoded Ventures aims to be a long-term partner to technical teams shaping the infrastructure layer of modern computing.
KEY QUOTES:
“Having known Alex for more than 20 years, I’ve seen firsthand his commitment to technical founders and early-stage businesses. Encoded is a natural extension of that passion. He’s a true mensch, and I’m proud to support him as a friend, investor, and advisor.”
Scott Tobin, Battery Ventures
“Alex backed Atero at the earliest stage. After our first meeting at my prior company, I knew I wanted to work with him. His guidance, advice, and relationships in LLM infrastructure made him one of our most impactful investors. Now, with Atero’s acquisition by Crusoe, I’m eager to see as many of Encoded’s GPU-hungry companies running on our cloud as possible.”
Alon Yariv, Atero AI / Crusoe
“Modern infrastructure is undergoing radical transformation, and it’s vital that the founders get the help they need early on to successfully bring their products from idea to achieving early traction. Investing in the earliest stages of company formation, pre-product and often just the team, Encoded Ventures is seeking out next-generation companies that will provide the necessary infrastructure to drive continued growth and innovation across the infrastructure stack.”
Alex Benik, Founder, Encoded Ventures
