Canada’s Awz Ventures raises $82.5 million for a joint fund with the Israeli Ministry of Defence | Ctech – CTech

Posted By on August 18, 2021

The Israeli Ministry of Defenses Directorate of Defense Research and Development's (dubbed MAFAT) joint endeavor with venture capital firm Awz Ventures is up and running.

Ten potential investment opportunities in cloud security, quantum, aerospace, deep tech, robotics, artificial intelligence, and cybersecurity have already been identified. Awz X-Seed will initially invest an average of $3-$5 million in each portfolio company. Additionally, the best-performing companies will be considered for follow-on investment rounds by Awz Ventures growth-stage funds, alongside third-party investors. Every 18 months, Awz Ventures will raise an additional $75 million for Awz X-Seed to invest in its next cohort of 15 companies, which will take up residence in the hub for enrichment and growth.

Each portfolio company will receive different levels of assistance including office space in the Awz X-Seed hub and advanced marketing, business development, and technology mentorship services provided by the hubs in-house professional team. Portfolio companies will further benefit from Awz Ventures business development offices in Canada, the U.S., and UAE that will support the companies in expanding their global client base.

Yaron Ashkenazi the founder and managing partner of Awz Ventures said that Awz Ventures unique strategic partnership with MAFAT and Israels other security agencies will allow our hub to have the most advanced deal flow that stems from the real recognized needs within the security industry that also have multiple applications within the commercial sector. Ashkenazi added that we will address these needs and gaps in the marketplace both by investing in existing companies and by creating companies together from scratch.

Awz X-Seed will be led by Ashkenazi, as Managing Partner, and Daniel Mak, a seasoned Canadian high-tech investor and Awz Ventures General Partner, alongside two Israel-based General Partners: Roni Alsheich, former Deputy Director of the Israel Security Agency (Shin Bet), and Sharon Gal, former Head of Technology Innovation at the Israel Prime Ministers Office. In addition, the hub will be advised by Awz Ventures prestigious partners and advisory committee members that include Canadas 22nd Prime Minister, The Rt. Hon. Stephen Harper, former Mossad Chief of Intelligence Haim Tomer, former Commander of Israels elite Unit 8200 Brig. Gen. (Ret.) Ehud Schneorson, and numerous global industry leaders as well as finance and investment experts.

Former Canadian Prime Minister Stephen Harper added, I am proud to be an advisor in residence at the Awz X-Seed hub, a ground-breaking and differentiated initiative. Together, Awz and MAFAT will uniquely evaluate and develop early-stage technologies, creating a model that is unmatched anywhere.

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Canada's Awz Ventures raises $82.5 million for a joint fund with the Israeli Ministry of Defence | Ctech - CTech

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