Synaptech

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New initiative set to raise $100 m for start-ups in the UAE & Israel.

On March 24th, 2022, we had the honour and privilege to to celebrate the launch of Synaptech Capital; a first-of-its-kind Israeli Emirati VC fund focused on creating strong collaborations that combine the best of both worlds. The fund will invest in technologies that would make the world a safer, better place with technological advancement on the side of good.

The founders of Synaptech Capital – the first Emirati-Israeli venture capital fund – Tomer Avnon, founder and president of Avnon Group and Obediah Ayton, COO of The Private Investment Group, identified the financial and economic opportunities and the potential for strategic cooperation that followed the signing of the Abraham Accords in 2020.

As nations in the Middle East made a ground-breaking commitment to collaborate and promote business opportunities in the region, our VC professionals saw an opportunity to do the same.
Synaptech will embrace this alliance, bringing together the unique start-up DNA of Israel with the vision and leadership of the UAE. it’s about creating synergy, developing, and sharing knowledge, and creating innovation that will strengthen the UAE’s technological capabilities for domestic use and enable the UAE to sell technology to other countries. More importantly, we hope that Synaptech is just the beginning of such alliances between our countries to help this new friendship flourish and grow for generations to come.

Synaptech, which aims to raise $100m as its first move, will invest in Israeli and Emirati start-ups and promote their path to an exit.

The fund will focus on five key pillars fintech, insuretech, smart cities, public safety, and cybersecurity, utilizing Israeli knowledge and experience in the Start-Up and Innovation domains to develop meaningful collaboration and create business opportunities in the Middle East. Our portfolio companies will relocate to the fund’s Abu Dhabi incubator, and later create a corporate innovation hub for regional businesses to develop and collaborate.

The launching event of the fund was unveiled at a dedicated event in Abu Dhabi, where leading Middle Eastern and European investment groups, entrepreneurs, and government officials gathered in Abu Dhabi’s Four Seasons Hotel. In addition to top tier guests were cybersecurity and financial experts, venture capital professionals, family offices, and government officials who found this event an opportunity to exchange thoughts, ideas, and future collaborations. The event highlighted new technology implementation capabilities such as artificial intelligence, cyber- security, and quantum computing.

The chairman of Synaptech Capital is Moshe Ya’alon, former Defense Minister, and former Vice Prime Minister. Mr. Ya’alon Served in the IDF in numerous key positions: commanding Israel’s most distinguished special forces unit, Head of the Military Intelligence and the Chief of General Staff of the IDF. Mr. Ya’alon announced at the event that “as part of the collaboration we will create at Synaptech, we will bring the spirit of the start-up nation and the most advanced technologies we have to offer to the Gulf States. At the UAE Innovation Centre, we will allow Israeli technology companies to recruit strategic investors and develop their products according to market demands in collaboration with their future customers in the Gulf. We believe that in a short time, Synaptech will become a symbol of peace and economic cooperation between Israel and the United Arab Emirates”.

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