Tel Aviv Stock Exchange launches TASE Up, a new platform to access tech investments

The Tel Aviv Stock Exchange announced on Sunday the launch of TASE Up, a new tool to help “bridge the gap” between Israeli growth companies and thousands of investors. The new platform is designed for private companies to access investments from institutional and accredited investors, aiming to transform the investment game.

TASE Up is expected to tackle some of the challenges brought on by the coronavirus (Covid-19) pandemic since private investors have been reluctant to invest in tech companies and some are struggling to stay afloat. Companies that are listed on the TASE UP platform remain private and are not subject to any reporting or prospectus publishing requirements.

“TASE is committed to the advancement of the Israeli economy and of the Israeli companies operating in this environment,” TASE CEO, Ittai Ben-Zeev said in a statement. “We are taking this commitment to the next level with TASE Up, a platform that completely transforms capital raising by companies and, for the first time in Israel, harnesses the advantages of the Tel Aviv Stock Exchange, such as access to investors and liquidity, to the benefit of those companies that, at least for the time being, wish to remain private.”

Entities that are allowed to raise capital on the platform have access to thousands of investors via TASE’s distribution channels. Investors, on the other hand, will have direct access to investment opportunities in private companies via a platform that closely resembles the familiar TASE trading system.

TASE Up will also be available to public institutions, subject to their equity levels which must be in excess of NIS 50 million ($14.6 million).

The platform was formed as a response to the devastating effect of Covid-19 on businesses in Israel. To help maximize its impact, the TASE has entered strategic partnerships with International investment bank Jefferies; investment platform Fundit; and digital issuance platform Novis.

It also works closely with IVC, an Israeli high-tech business research and data center, which supplies the information on private companies seeking investors.