Clear and Present DangerLeading Israeli VC Viola voices concern regarding "threats to the judicial system"
Clear and Present Danger
Leading Israeli VC Viola voices concern regarding "threats to the judicial system"
"We find it important to vocally communicate our belief that the State of Israel cannot exist without 3 fundamental principles: equality without discrimination, an independent legal system, and freedom of speech - generally, and particularly in academia and in the media," the VC wrote in a statement
One of Israel's leading venture capital firms Viola Group released a statement on Tuesday voicing its concerns regarding the new government's plans to reform the judicial system.
"The State of Israel was established on the principles of freedom, egality, and equality for minorities. Decades later, the Israeli high tech ecosystem emerged on the basis of these very same foundational ideas.
"At Viola, we are deeply concerned about recent threats to the judicial system, which undermine the fundamental ideas of our democracy. We find it important to vocally communicate our belief that the State of Israel cannot exist without 3 fundamental principles: equality without discrimination, an independent legal system, and freedom of speech - generally, and particularly in academia and in the media. Any attempt to disrupt these founding principles will present a true and immediate threat to the longevity and existence of the Israeli state as it is today," Viola wrote.
Viola Group is the largest tech investment group in Israel, with over $4.5 billion AUM, The group invests via four investment arms, Viola Ventures, Viola Growth, Viola FinTech and Viola Credit and its portfolio includes some of the most successful technology companies in the Israeli ecosystem, including ironSource, Payoneer, Redis, Verbit, Outbrain, Pagaya, Lightricks, SimiliarWeb and Immunai.
"Viola Group was founded 23 years ago and has invested in over 200 companies. Israel’s democratic principles are the foundation of how we operate," Viola added. "We are committed to continue investing only in companies that respect these fundamental principles."
