Index Ventures: "We denounce the proposed reforms in Israel that foster discrimination and threaten democracy"
The post by Partner Shardul Shah came after Insight Partners, considered to be the largest investor in Israeli high-tech over recent years, released a public statement as protests against the new government’s judicial reforms gather steam
Shardul Shah, a Partner at Index Ventures, posted his support for the protests against the judicial reforms in Israel on Thursday. "At Index Ventures, we believe that discrimination of any kind, against any person, goes against our core values as individuals and as a business. We stand with Wiz in their commitment to protect human rights, and we denounce the proposed reforms in Israel that foster discrimination and threaten democracy.
"I’m deeply inspired by the actions of Assaf Rappaport and the entire Wiz team for their decision to require their business partners and customers to stand firmly against discrimination of any kind. We support their team and leaders as they take to the streets to express their beliefs during this time of uncertainty.
"It is so important for those within the global tech community to influence and speak out on these pressing issues. In order for businesses and individuals to thrive, we must uphold the right of equal opportunity for all."
New York-based global venture capital and private equity firm Insight Partners, considered to be the largest investor in Israeli high-tech startups over recent years, sent out a letter to all its Israeli portfolio companies on Monday stating its position in regard to the political unrest in the country.
Insight Partners is the first foreign investor to publicly voice its opinion on the matter, with other VC’s starting off record that they intend to suspend possible investments in Israel for the time being due to the escalating political tensions.
“We are aware of the political unrest unfolding in Israel, and we are grateful for the open dialogue with our Israeli portfolio companies who have reached out to us to share their concerns. During these moments of uncertainty, we believe that it is important for us to reiterate our core values,” read Insight Partners' statement.
“We uphold the principles of democracy, equality, and equal opportunity, and we denounce acts that seek to stifle personal freedoms or acts of hatred, violence, or discrimination.
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“As software and technology investors, we are privileged to be a part of an industry that strives to bring social awareness to causes that align with our beliefs. As a firm, and as individuals, we want our industry, our portfolio companies, and the communities in which they operate to provide equal opportunity, representation and support for all.
“We will continue to support our portfolio companies as they seek to build cultures of inclusion, and we support the High-Tech ecosystem in Israel as they speak out in support of democracy, equality and equal opportunity.”
