Synaptech Capital, founded by the entrepreneurs Tomer Avnon and Obediah Ayton, announced on Thursday its official launch in Dubai, in what it claims to be the first time an Israeli-Emirati VC fund is created.
"The fund will raise $100M, which will be invested in the start-ups and promote their path to an exit," it said in a statement, noting that its special guests included Israeli and Emirati officials as well as local and international entrepreneurs.
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The fund "was inspired and made possible thanks to the Abraham Accords signed in 2020," it said. "As nations in the Middle East made a groundbreaking commitment to collaborate and promote business opportunities in the
region, our VC professionals saw an opportunity to do the same – with the spirit of advancing technology
to inspire humankind, maximize human potential and bring nations closer together."
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