Wire

Iron Nation achieves $20 million fundraising goal to bolster Israeli startups amid ongoing conflict

“Our ability to mobilize resources and provide assistance to startups under threat speaks volumes about the resilience of the Israeli tech ecosystem,” says Gil Friedlander, co-founder and general manager of the impact fund.

Team members affiliated with the Iron Nation impact fund, supporting the high-tech industry in Israel. From left: Chen Linchevski, Ira Freedman, Jason Wolf, Gil Friedlander and Ilan Tevet. Photo by Yoav Lavi.
Team members affiliated with the Iron Nation impact fund, supporting the high-tech industry in Israel. From left: Chen Linchevski, Ira Freedman, Jason Wolf, Gil Friedlander and Ilan Tevet. Photo by Yoav Lavi.

Iron Nation, an impact fund dedicated to the continuity and growth of Israeli startups, has passed its target to raise a $20 million fund. This significant milestone enables it to invest in more than 20 high-potential Israeli startups, directly contributing to the resilience of Israel’s tech ecosystem and helping to ensure that startups can grow during and after the current crisis.

Initiated in response to the devastating Oct. 7 terrorist attacks, Israel’s subsequent war with Hamas in Gaza, and its impact on the Israeli high-tech landscape, Iron Nation has become a pivotal force in stabilizing early-stage Israeli tech companies that lost funding or had key team members mobilized for the war effort. The fund has already invested in 12 startups and is in the process of deploying funds to an additional 10, 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 mobilize resources and provide assistance to startups under threat speaks volumes about the resilience of the Israeli tech ecosystem.”

Iron Nation’s funds are being deployed across a variety of impactful verticals, ranging from deeptech, climate tech, life science, retail, fintech, community management, energy, automotive and artificial intelligence. The successful global funding campaign has been bolstered by significant connections with foundations and individual donors from around the world who, further to seeing business opportunities, recognize the importance of sustaining Israel’s innovation landscape. These relationships have not only facilitated financial contributions but have also opened doors to invaluable networks and resources, amplifying the fund’s impact.

“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 mobilization and substantial support have been critical during this challenging time.”

“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,” said Jason Wolf, co-founder and general partner of Iron Nation. “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 organizations who contributed their expertise and connections to our cause.”

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Iron Nation fund is a no management fee or carried interest, volunteer-driven organization led by high-tech executives. Each member contributes their unique skills in a collective effort; some are tech veterans and captains of industry, others top investors and economists. All are fighting on the financial frontlines for a better future for Israel.
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