Israel’s largest online investment platform OurCrowd has announced a fund to help support local startups during the country’s current war with Hamas in Gaza.
Jerusalem-based OurCrowd said the Israel Resilience Fund aims to support Israel at this time with investment in the tech sector, strengthening startups and bolstering employment.
The objective of the fund is to raise $50 million, which will be invested in at least 50 companies. OurCrowd says it will waive its management fees and carried interest as part of the effort.
The fund will focus on companies that have been directly impacted by the conflict, which began on October 7 when Hamas terrorists stormed across the Gaza border, murdering 1,400 people and taking hundreds more hostage.
Funds will also go to companies that are developing solutions in critical fields, such as food security, cyber security and emergency medicine, OurCrowd said in a statement announcing the fund.
“Many venture-backed companies in Israel already struggling due to global venture slowdown now face even more serious obstacles due to the war, requiring immediate, focused investment,” the VC said in its announcement.
“As Israel’s most active VC with hundreds of direct portfolio companies, OurCrowd is uniquely positioned to deploy capital immediately into a large pool of companies,” it said.
According to OurCrowd, investors in the fund could enjoy “outsized returns… by taking advantage of discounted valuations in [the] current market, while supporting numerous Israeli companies to survive the crisis and flourish in the long run.”
OurCrowd founder and CEO Jon Medved told NoCamels last month that he believes the “highly resilient” Israeli tech sector will not only be able to survive but will even thrive during the conflict.