Cyberstarts founder Gili Raanan enters sports world with minority stake in Hapoel Tel Aviv
Cyberstarts founder Gili Raanan enters sports world with minority stake in Hapoel Tel Aviv
Raanan is investing NIS 10 million in the basketball club, joining Ofer Yanai’s ownership team.
Cyberstarts founder Gili Raanan has decided to enter the world of sports as a minority owner of Hapoel Tel Aviv Basketball Club. Raanan signed an investment agreement on Sunday under which he will acquire 10% of the basketball team for approximately NIS 10 million (approximately $2.8M).
Raanan is the first investor to join the club since its acquisition by owner Ofer Yanai, founder of renewable energy company Nofar Energy, who currently holds 81% of the team's shares. "The agreement was signed after reviewing various offers received from investors in Israel and abroad in recent months," the club said in a statement.
Raanan, a seasoned venture capitalist and former technology entrepreneur, founded Cyberstarts in 2018 after leading Sequoia Capital’s investments in Israeli startups for a decade. Among his investments are prominent Israeli tech companies such as Wiz, Island, Cyera, Armis, and Moovit.
In addition to his business activities, Raanan initiated and co-established a department for treating post-trauma victims at Ichilov Hospital following the events of October 7. He was also the first donor to the SpaceIL association’s “Beresheet” spacecraft project, which aimed to land an Israeli spacecraft on the moon.
Yanai said after the signing, "Gili is the partner I’ve been looking for. He built his fortune from the ground up and understands exactly how to create an exemplary organization that strives to compete. The story of Hapoel Tel Aviv is one of change, hope, and a pursuit of excellence, bringing positive impact to a hurting community. Israeli high-tech, from which Gili comes, is a national model of excellence. Together, we will bring this spirit to basketball and Israeli sports. Together, we will succeed."
Raanan added, "Hapoel Tel Aviv is an organization with a huge community impact, and my family and I have been fans for many years. I’m excited to invest in a club that promotes sporting excellence and social involvement, and to support its continued success. Athletes and entrepreneurs face similar challenges, and I’m confident that connecting the team’s stars with the brilliant entrepreneurs at CyberStarts will contribute to their shared success."
