Miami 2024"The tech ecosystem provides entrepreneurs with a network of security and help"
Miami 2024
"The tech ecosystem provides entrepreneurs with a network of security and help"
LeumiTech CEO Maya Eisen Zafrir spoke at the opening of the "Dream Team" event, where Israeli entrepreneurs presented their startups to potential investors at the Calcalist and Bank Leumi conference in Miami. Asaf Horesh, managing partner of Vintage Investment Partners: "Despite everything we have gone through in Israel, we are highly correlated with the American market. That's why the leading funds continue to invest."
Maya Eisen Tzafrir and Asaf Horesh
(Tomeriko)
"The past year has changed our perspective on many things, including how we view the Israeli high-tech industry," said LeumiTech CEO Maya Eisen Zafrir at the opening of the "Dream Team" event. The event featured Israeli entrepreneurs presenting their startups to potential investors during the Calcalist and Bank Leumi conference in Miami.
"Amid the immense challenges faced by companies and entrepreneurs, several notable trends have emerged," Eisen Zafrir stated. "We’ve seen groundbreaking technological advancements born out of necessity, such as technologies designed to protect citizens, aid in the rehabilitation of the injured, or manage emergency situations. Additionally, technologies initially developed for security purposes are proving relevant to a wide range of civilian applications across diverse fields. At the same time, we’ve witnessed the evolution of new work models in response to the situation. For instance, young employees are stepping into key roles due to the call-up of senior executives to reserve duty. Moreover, the high-tech ecosystem has come together, solving problems, pushing boundaries, and providing entrepreneurs with a supportive network," she explained, describing the defining features of a challenging year for the country that has also deeply impacted the high-tech sector.
"Having supported startups for over a decade, we firmly believe that adversity fosters resilience, creativity, and focus among entrepreneurs and companies," Eisen Zafrir continued. "With this confidence, Bank Leumi is proud to announce the launch of a new $77 million financing fund to mark the 77th anniversary of Israel's independence in 2025. We believe that now is the right time to invest in Israeli high-tech."
Asaf Horesh, managing partner at Vintage Investment Partners, which manages $4 billion, co-hosted the Dream Team event with Eisen Zafrir. Horesh reinforced her optimism by highlighting key characteristics that define Israeli high-tech and reflect its resilience.
"When Vintage began operating in Israel about 20 years ago, the circumstances were similar to today," Horesh said, referencing the tech bubble burst and security instability. "When the fund was established in 2000, there were parallels to 2021, with unprecedented amounts of capital flowing into Israel. Over time, however, everything stabilized. Israeli tech is closely correlated with the U.S. market, and you can see this trend in historical data. Despite the challenges of recent years, including the judicial reform and the aftermath of October 7, Israeli high-tech remains deeply aligned with the American market. That’s why, even today, there’s still a sense of optimism on the streets of Tel Aviv, and leading funds continue to invest in Israel," Horesh explained.
"Mergers and acquisitions in Israel reached a historic high over the past 12 months, with deals totaling $10.7 billion, up from $8.6 billion last year. Companies like Salesforce and Nvidia chose to acquire startups in Israel, even though they could do so anywhere in the world. Their decisions reflect strong confidence in Israel’s economy," Horesh concluded.
To watch the full presentation, click on the video above.
