Canadian venture capital firm Awz Ventures is looking to invest in Israeli startups developing innovative security technologies. To that end, it has teamed up with the Defense Ministry's Directorate of Defense Research and Development (MAFAT) and other Israeli security agencies to open an investment and accelerator hub in Tel Aviv.
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Awz X-Seed I closed last week, raising more than $75 million – oversubscribed from its target of $50 million – and has already identified 10 potential investment opportunities in cloud security, quantum, aerospace, deep tech, robotics, artificial intelligence, and cybersecurity. Every 18 months, Awz Ventures plans to raise a subsequent $75 million to invest in its next cohort of 15 companies.
The firm will invest an average of $3-5 million in each portfolio company. Additionally, the best-performing startups will be considered for follow-on investment rounds by Awz Ventures' growth-stage funds, alongside third-party investors.
"Awz Ventures' unique strategic partnership with MAFAT and Israel's 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," said Founder of Awz Ventures Yaron Ashkenazi. He is also a former officer in Shin Bet, Israel's internal security agency.
Former Canadian Prime Minister Stephen J. Harper serves as the company's advisory committee president.
"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," he said.
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