Former Defense Minister, IDF Chief of Staff Moshe Ya’alon to head UAE-based VC
Synaptech VC was founded by the Avnon group and strategic partners from the Emirates and has already raised $50 million from institutional investors in the Emirates
Udi Etsion | 12:40 24.11.2021
After 25 years in the IDF and 13 years in politics, Moshe "Bogie" Ya'alon is embarking on a business career. The former Defense Minister and IDF Chief of Staff has been appointed as the chairman of Synaptech, a new UAE-based venture capital fund which has already raised $50 million from institutional investors in the Emirates. Synaptech was founded by the Avnon group and strategic partners from the Emirates. The fund intends on investing a total of tens of millions of dollars in around 20 early-stage startups, in particular in the defense, cybersecurity, fintech and insurance sectors. In addition to the fund, the Avnon group will also set up with its partners an innovation center for corporations which the startups will also be able to use as a base for their R&D activity.