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Two Lanterns Venture Capital, founded in 2020, is an investment firm based in the United States. The firm was established by John Harthorne, who previously served as CEO of MassChallenge. Two Lanterns focuses on supporting AI-native and AI-empowered software startups, primarily targeting companies at the Pre-Seed and Seed stages. The firm operates with a belief that founders are better positioned than incumbents to capitalize on market disruptions and build around new paradigms.
As of now, Two Lanterns has a portfolio of four companies and is actively involved in the Boston-Israel startup ecosystem. The firm emphasizes hands-on early-stage support and provides access to a strong network, which is particularly beneficial for startups navigating challenges in their respective markets. The firm’s investment strategy is centered around sectors experiencing significant disruptions, including AI, SaaS, healthcare, and more.
Two Lanterns Venture Capital invests in software startups that leverage artificial intelligence, focusing on emerging opportunities across various markets. The firm targets companies in sectors such as AI, SaaS, healthcare, robotics, legaltech, DevOps, gaming, cybersecurity, and data infrastructure. Their investment strategy is particularly geared towards Pre-Seed and Seed stage companies, allowing them to engage with startups at their earliest phases.
The firm seeks entrepreneurs who are transforming industries through innovative software solutions. Two Lanterns is particularly interested in AI-native and AI-empowered startups, indicating a preference for companies designed around new technology shifts rather than those merely adding AI features. This focus aligns with their belief that founders can better exploit market disruptions.
Two Lanterns Venture Capital's portfolio includes notable companies that exemplify their focus on AI-driven software solutions:
Additionally, Two Lanterns has had notable exits with companies such as ReturnGO, a post-purchase returns management platform acquired by Global-E in 2025, and Axiom Health, an AI-powered medtech market-intelligence platform acquired by Sorcero in 2025.
John Harthorne: Founder & Managing Director. Previously CEO of MassChallenge, where he worked with thousands of startups. He founded Two Lanterns in 2020.
Michal Gilon-Yanai: Partner. She has a background in entrepreneurship programs in the US and Israel, including work at IDC and MIT. She helped launch MassChallenge Israel.
Lily Toto: Senior Associate. Joined in 2023 with prior experience in private equity and early-stage software startups.
Desh Deshpande: Advisor. Founder of Cascade Communications and Sycamore Networks, and a founding board member of MassChallenge.
Zohar Gilon: Advisor. An Israeli super angel with over 200 investments and extensive exit experience.
Bill Schnoor: Advisor. Partner at Goodwin Procter and former co-chair of technology and life-sciences practices.
Satish Tadikonda: Advisor. A healthcare entrepreneur and executive partner at Blue Cloud Ventures.
To pitch Two Lanterns Venture Capital, founders should visit their website at 2l.vc. It is advisable to include a detailed deck that outlines the startup's vision, technology, market opportunity, and team. While specific response times are not disclosed, founders should expect a thorough review process given the firm's focus on early-stage investments.
Warm introductions are preferred, particularly from individuals within the Boston-Israel ecosystem or those connected to the firm. This can enhance the chances of receiving a timely response.
In 2025, Two Lanterns Venture Capital saw notable exits with the acquisition of Akooda by Tulip, ReturnGO by Global-E, and Axiom Health by Sorcero. These exits highlight the firm's successful investment strategy in AI-driven software startups.
As of Spring 2026, Two Lanterns is actively promoting a fellowship program aimed at supporting early-stage entrepreneurs, further demonstrating their commitment to fostering innovation in the startup ecosystem.
What investment criteria does Two Lanterns look for?
Two Lanterns focuses on AI-native and AI-empowered software startups at the Pre-Seed and Seed stages. They seek entrepreneurs who are transforming industries through innovative software solutions and have a credible AI advantage.
How can founders pitch to Two Lanterns?
Founders can submit their pitches through the official website at 2l.vc. It is recommended to include a clear explanation of the AI technology and its application in the startup.
What makes Two Lanterns different from other VC firms?
Two Lanterns emphasizes hands-on early-stage support and access to a strong network, particularly within the Boston-Israel ecosystem. Their focus on AI-driven software startups allows them to provide targeted resources and connections.
What is the geographic scope of Two Lanterns' investments?
The firm primarily invests in startups located in the United States and Israel, focusing on regions that are experiencing significant technological disruptions.
What is the typical check size for investments?
While specific check sizes are not disclosed, Two Lanterns invests at the Pre-Seed and Seed stages, which typically involves smaller initial investments to support early growth.
What kind of post-investment involvement can founders expect?
Two Lanterns provides hands-on support and access to their network, helping portfolio companies navigate challenges and capitalize on opportunities in their respective markets.
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