Military start-up funding
Israel backs two funds to grow new defence tech
Adir is managed by Idan Financial Instruments and Sling is led by Giza Venture Capital.
Defence Minister Israel Katz (centre) tours technology at the Rafael Leshem Institute in northern Israel. Photo: Shira Kinen/Defence Ministry
(The Times of Israel) Israel will provide state guarantees to two venture capital funds to bring private money into military start-ups and reduce its reliance on foreign suppliers.
The Finance Ministry and the Defence Ministry’s Directorate of Defence Research and Development (DDR&D) chose Adir Capital and Sling Capital after a tender.
Adir is managed by Idan Financial Instruments and Sling is led by Giza Venture Capital.
Each fund will receive NIS 100 million ($47 million) in state guarantees.
The guarantees protect investors against losses in a sector considered high risk.
You have reached your monthly article limit
You have reached your monthly limit of 3 articles. Do you want to keep reading The Australian Jewish News?Subscribe today and enjoy unlimited digital access for less than $0.50 a day.
Subscribe Now
Already have an account? Click here to log in
read more:
comments