Israeli investment platform OurCrowd has announced that it has secured $13 million in capital commitments for its $50 million Israel Resilience Fund. This fund was launched during the Israel-Hamas war to support startups affected by the conflict or those developing solutions to address Israel’s immediate needs.
Key Takeaway
OurCrowd’s Israel Resilience Fund has secured
3 million in capital commitments and has already made 8 investments in startups affected by the Israel-Hamas conflict. The fund aims to provide support to these companies to navigate through the crisis and emerge stronger in the long run.
Investments from the Fund
The Israel Resilience Fund has already provided funding to eight companies. Among them are food tech startup BlueTree and Carrar, a company developing a thermal management solution for electric vehicles. Both of these startups recently had to relocate their facilities due to the conflict. Additionally, the fund has invested in aerial imagery specialist Edgybees and Verobotics, a robotics startup focusing on cleaning and inspecting the facades of high-rise buildings.
Future Plans
OurCrowd aims to raise a total of $50 million for the fund, which does not charge management fees or carried interest. The fund is expected to invest in approximately 50 startups. According to OurCrowd Founder and CEO Jon Medved, the Israel Resilience Fund seeks to create significant returns for investors by taking advantage of discounted valuations in the current market while supporting Israeli companies to survive the crisis and thrive in the long term.
Supporting Startups
Jeff Kupietzky, an operating partner of the Resilience Fund, emphasized that the fund aims to help startups facing both financial and operational challenges due to the war. He highlighted that many startups are uncertain about when international investors will resume investing in Israeli startups, as they await the resolution of the conflict. Moreover, companies are dealing with operational challenges such as key personnel being called up to the military reserves, as well as disruptions to daily business operations caused by evacuations and rocket fire. Kupietzky stressed the importance of financing to help these companies navigate through the crisis and achieve long-term success.
