Another step forward for chareidi initiatives seeking to enter the Israelis business community, as a venture capital fund has been established for the first time to invest in new technology developed by the Orthodox community. Undoubtedly this will considerably assist young chareidi initiatives in finding venture capital as a group of business executives have joined together to announce the establishment project to assist start-ups.

Among the investors are Gigi Levy, Dov Moron, Yizhar Shai, Ehud Levy, Chami Peres, and Rami Kalish, partners at Pitango, Adi Super Thani [CEO Facebook Israel], Michal Tzur [a founder of Kaltura] and Avishai Avrahami [CEO of Wicks]. The fund was initiated by Kama Tech led by Moshe Friedman, with the latter working to promote high-teach in the chareidi sector.

The fund has already enlisted $300,000 and they are optimistic that it will continue growing. They also expect to attract chareidi investors wishing to advance the project.

(YWN – Israel Desk, Jerusalem)