Iron Nation, an impact fund dedicated to the continuity and growth of Israeli startups, announced today that it has passed its target to raise a $20 million fund.
TEL AVIV, Israel, June 5, 2024 /PRNewswire-PRWeb/ -- Iron Nation, an impact fund dedicated to the continuity and growth of Israeli startups, announced today that it has passed its target to raise a $20 million fund. This significant milestone enables Iron Nation to invest in over twenty high-potential Israeli startups, directly contributing to the resilience of Israel's tech ecosystem, and ensuring that startups can grow during and after the crisis.
Initiated in response to the devastating October 7th terror attack, subsequent war, and its impact on the Israeli hi-tech landscape, Iron Nation has become a pivotal force in stabilizing early-stage Israeli tech companies that lost funding or had key team members mobilized for the war effort. The fund has already invested in 12 startups and is in the process of deploying funds to an additional ten, targeting sectors most critical for future economic stability and growth.
"The successful closure of our fund is a testament to the extraordinary support and trust of our global network, from the incredible investment committee and volunteers here in Israel & around the world and to the profound engagement from the Jewish community in North America," said Gil Friedlander, Co-founder & General Manager of Iron Nation. "Our ability to mobilize resources and provide assistance to startups under threat speaks volumes about the resilience of the Israeli tech ecosystem."
Iron Nation's funds are being deployed across a variety of impactful verticals ranging from DeepTech, Climate Tech, Life Science, Retail, Fintech, Community Management, Energy, Automotive, and AI. The successful global funding campaign has been bolstered by significant connections with foundations and individual donors from around the world who, further to seeing business opportunities, recognize the importance of sustaining Israel's innovation landscape. These relationships have not only facilitated financial contributions but have also opened doors to invaluable networks and resources, amplifying the fund's impact.
"Thanks to our committed volunteers and the generous support by our investors, Iron Nation has turned a vision of rapid response into a reality of sustained support," added Chen Linchevski, Co-founder & General Manager of Iron Nation. "We are particularly grateful to the Jewish communities across North America, whose quick mobilization and substantial support have been critical during this challenging time."
"Iron Nation has been the most active investor in Israel's high tech ecosystem during Q1 2024, an incredible achievement given that the fund was founded in October 2023, mere months before," said Jason Wolf, Co-founder & General Partner of Iron Nation. "We are proud of our rapid response and our ability to spearhead many rounds in promising companies during this period. We could not have achieved this milestone without the incredible support from over 100 volunteers, individuals, and organizations who contributed their expertise and connections to our cause."
As Iron Nation continues to administer funds, it maintains a strong commitment to strategic allocation to ensure that investments yield long-term benefits for the entire Israeli tech ecosystem and investors.
About Iron Nation
Iron Nation is an emergency impact fund ensuring the continuity of early-stage Israeli start-ups in the wake of the October 7th massacre. Iron Nation was co-founded by seasoned entrepreneurs Chen Linchevski, Gil Friedlander, and Jason Wolf. Iron Nation's Chairman is Chemi Peres of Pitango and its investment committee is comprised of leading investors including , Charlie Federman of SilverTech Ventures, Danny Cohen of Viola Ventures, Aaron Applbaum of MizMaa, Calanit Valfer of the Elah Fund, Moshe Lichtman of IGP Capital, and others. The organization is also supported by leading companies including Meitar, Start-Up Nation Central, EY, The Mixer and others.
Media Contact
David Hoffman, Iron Nation, 972 528421955, [email protected], https://www.ironnation.org/
SOURCE Iron Nation
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