Iron Nation achieves $20m target to bolster Israeli startups amid ongoing conflict
The emergency fund will invest in over twenty promising Israeli startups contributing to the resilience of the country's tech ecosystem
Iron Nation, the emergency fund launched to help startups impacted by the war, has surpassed its $20m fundraising target.
This significant milestone enables Iron Nation to invest in over twenty promising Israeli startups, directly contributing to the resilience of Israel’s tech ecosystem, and ensure that they can grow during and after the crisis.
Founded by prominent entrepreneurs Chen Linchevski, Gil Friedlander and Jason Wolf in response to the 7 October, Iron Nation has become a pivotal force in stabilising early-stage Israeli tech companies that lost funding or had key team members mobilised for the war effort. The fund, which is chaired by Pitango’s Chemi Peres, has already invested in 12 startups and is in the process of deploying funds to ten more, 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 and around the world and to the profound engagement from the Jewish community in North America,” said Gil Friedlander, co-founder and General Manager of Iron Nation. “Our ability to mobilise resources and provide assistance to startups under threat speaks volumes about the resilience of the Israeli tech ecosystem.”
Iron Nation’s investment committee comprises leading investors including Charlie Federman of SilverTech Ventures, Danny Cohen of Viola Ventures, Aaron Applbaum of MizMaa, Calanit Valfer of the Elah Fund and Moshe Lichtman of IGP Capital, and others. The organisation is also supported by leading companies including Meitar, Start-Up Nation Central, EY, The Mixer and others.
Its funds have been invested into sectors ranging from DeepTech, Climate Tech, Life Science, Retail, Fintech, Community Management, Energy, Automotive, and AI. The global funding campaign has been bolstered by significant connections with foundations and individual donors from around the world.
“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 and General Manager of Iron Nation. “We are particularly grateful to the Jewish communities across North America, whose quick mobilisation and substantial support have been critical during this challenging time.”
Jason Wolf, co-founder and General Partner of Iron Nation, added: “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.” He continued: “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 organisations 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.
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