Synaptech Capital News
4 articlesSynaptech Capital heads to NYC to raise $100 million from institutional investors from the Emirates, the USA and other global investors - Synaptech Capital
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New initiative to raise $100 million for startups in UAE, Israel
A new initiative called Synaptech Capital has been launched in Abu Dhabi to facilitate UAE-Israel partnerships and promote international connections. The company plans to raise $100 million to invest in Israeli and Emirati startups in the cybersecurity, smart city, insure-tech, fintech, and public safety technology sectors. The startups will be relocated to Abu Dhabi and receive support and resources through the funds Incubator program. Synaptech Capital also aims to create a Corporate Innovation Hub for regional businesses to collaborate and grow. The initiative was inspired by the Abraham Accords signed in 2020, which committed nations in the Middle East to collaborate and promote business opportunities in the region.
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UAE-focused Israeli VC fund Synaptech names former defence minister as chairman
Synaptech Capital, a new Israeli fund set up in the UAE, has appointed former Israeli defence minister Moshe ‘Bogie’ Ya’alon as its board chairman. The fund, founded by the Avnon Group, plans to invest in 20 startups in the UAE and has strategic partners from the Gulf region. The establishment of the fund comes a year after the UAE and Israel signed the Abraham Accords, formalising diplomatic and business relations. The Avnon Group will also establish an Innovation centre in the UAE and open an office in Abu Dhabi.
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Former Defense Minister, IDF Chief of Staff Moshe Ya'alon to head UAE-based VC
Synaptech, a UAE-based venture capital fund, has appointed Moshe Yaalon, former Defense Minister and IDF Chief of Staff, as its chairman. The fund has already raised $50 million from institutional investors in the Emirates. Synaptech plans to invest tens of millions of dollars in around 20 early-stage startups, particularly in the defense, cybersecurity, fintech, and insurance sectors. The Avnon group, along with strategic partners from the Emirates, founded Synaptech. They also plan to establish an innovation center for corporations and startups to use for their R&D activities. The collaboration between Israel and the UAE, facilitated by the Abraham Accords, is expected to bring advanced technologies and financial cooperation between the two countries.
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