HomeIsraelIron Nation Launches Emergency Impact Fund To Support Early-Stage Israeli Startups

Iron Nation Launches Emergency Impact Fund To Support Early-Stage Israeli Startups

Iron Nation, a volunteer emergency impact fund ensuring the continuity of early-stage Israeli startups, has launched.

The fund, which collects no management fee or carried interest, aims to raise 20M USD to support post-seed VC-backed startups impacted by the recent attack by Hamas and the ensuing war.

Co-founded by seasoned entrepreneurs Chen Linchevski, Gil Friedlander, and Jason Wolf, the initiative is backed by a team of volunteers from the venture community including Chemi Peres of Pitango Ventures, Charlie Federman of SilverTech Ventures, Danny Cohen of Viola Ventures, Moshe Lichtman of IGP Capital, Aaron Applbaum of MizMaa, and Calanit Valfer of the Elah Fund who joined the investment committee pro-bono. The organization is also supported pro-bono by companies including Meitar, Start-Up Nation Central, InNegev, and others.

The recent Israel-Hamas war and the subsequent callup of 15-20% of the tech workforce to reserves caused early-stage startups in Israel to face challenges. Iron Nation’s mission is to ensure that Israeli tech startups with established venture backing can continue to grow during and after this crisis.

New York-based venture capitalist Charlie Federman of Silvertech Ventures was among the first to join the Iron Nation investment committee. The Silverstein family rebuilt the World Trade Center that now is home to dozens of Israeli related tech companies through their accelerator and fund.

Eligible startups can apply via Iron Nation’s website. Applications will be processed and vetted within two weeks by the investment committee. Iron Nation will actively amplify its investment with a dedicated investment-matching program of the Israel Innovation Authority, as well as the startups’ existing investors.

Iron Nation invites individuals, donors, organizations, and investors to join. Contributions can be made through the official website at https://www.ironnation.org/

The fund utilizes general solicitation and is compliant with the requirements of US Securities Act Rule 506(c) and is open to US investors who qualify as “accredited investors”. Iron Nation is also a 501(c)(3) organization and all donations are tax deductible. 

VCWire

03/11/2023