Israeli investment platform OurCrowd has announced that its Israel Resilience Fund has secured $13 million in capital commitments out of its $50 million target. Launched in response to the Israel-Hamas war, the fund supports startups affected by the conflict or those developing solutions for Israel’s immediate needs. The fund has already invested in eight companies, including BlueTree, a food tech startup, and Carrar, a startup specializing in thermal management solutions for electric vehicles. Other beneficiaries include Edgybees, an aerial imagery specialist, and Verobotics, a robotics startup focused on cleaning and inspecting high-rise building facades.
OurCrowd, led by founder and CEO Jon Medved, aims to raise a total of $50 million for the fund, which doesn’t impose management fees or carried interest. The fund plans to invest in approximately 50 startups.
Jon Medved explained that many venture-backed companies in Israel are facing challenges due to the global venture slowdown, compounded by the impact of the war in Gaza. The Israel Resilience Fund seeks to generate significant returns for investors by capitalizing on discounted valuations in the current market while providing crucial support for Israeli companies to navigate the crisis and thrive in the long term.
Operating partner Jeff Kupietzky, who recently sold his startup Jeeng to OpenWeb for $100 million, highlighted that, beyond financial issues, the fund aims to assist startups facing operational challenges due to the war. Startups are grappling with uncertainty about when international investors will resume investing in Israeli startups, alongside operational challenges arising from personnel being called up to military reserves, evacuations, and the disruption caused by rocket fire. The fund aims to provide financing to help these companies extend their runways through the crisis and ultimately succeed.
