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‘A Soldier for Israel’s Economy’: New Fund Seeks to Deploy Millions of Dollars to Israeli Startups Amid Gaza War
Israeli national flags flutter near office towers at a business park also housing high tech companies, at Ofer Park in Petah Tikva, Israel, Aug. 27, 2020. Photo: REUTERS/Ronen Zvulun
When Hamas terrorists raided southern Israel on Oct. 7, brutally murdering more than 1,200 people, mainly civilians, and kidnapping 240 others, the immediate fear in the tech world was how the country would bounce back.
Ezra Gardner — the CIO and co-founder of Varana Capital, an Israeli-focused venture capital fund — woke up that day “with every emotion from horror to sadness to anger” but ultimately realized he had to do something about it.
“I have been training 25 years to be a soldier for the Israeli economy,” the dual Israeli-American citizen told The Algemeiner.
Gardner — who is based in Denver, Colorado and in normal times travels to Israel every six weeks — got to work and established the Chai 10X Fund, a “no management fee, no performance fee, no research or invest expense” pro-bono fund aimed at propping up ready-to-scale Israeli startups impacted by the war with Hamas launched on Oct. 7.
Under this arrangement, Gardner and his firm will cover the expenses typically billed to investors, while donating his time for Israel.
He explained that Israel’s economy is more dependent on foreign direct investment than any country of the Organization for Economic Cooperation and Development (OECD), and that according to government statistics, the hi-tech sector in Israel is the largest tax contributor.
Gardner said this was an “existential moment” for the Jewish state, for which his grandparents fought in Israel’s 1948 War of Independence.
The 180 million NIS (about $50 million) fund has a “dual mandate as my mission as a soldier for the Israeli economy,” Gardner explained.
First is the raising and allocation of the money to the companies that need it most. The Chai 10X Fund will focus within the same sector that his day-to-day fund, Varana Capital, has operated for the past 13 years — Israeli companies that have already raised money, conducted research and development, and either have revenues or are about to scale them up.
Their focus is on the hardware space, with products in fields such as computers, electric vehicles, and agriculture that are “demonstrably better than what currently exists, can be built, and is heavily patented.”
Gardner said that allocating the capital will “not at all” be a problem, and that there is a huge need for the funding Chai 10X is getting ready to deploy.
The second mandate for the fund, according to Gardner and what is taking up a large portion of his current trip to Israel, is “to be a conduit to the government to help the technology ecosystem get everything it needs.”
Throughout this process, Gardner has been meeting with top members of Israel’s Parliament, known as the Knesset, and the CEOs of Israel’s largest banks to break down and hopefully solve the problems facing the country’s economy during wartime.
“I did a thought experiment and thought: What if the war ended tomorrow, and in the best way? When would the guys in Silicon Valley hop on a plane and come back to Tel Aviv?” he said.
In Gardner’s estimation, even the best situation for fiscal year 2024 won’t have a great economic outlook.
The goal then, Gardner explained, is to work through and find ways to compensate the losses in foreign capital with domestic capital, which he said the Israel Innovation Authority is helping with, as well as funds like his own.
People outside of Israel “should know how resilient these entrepreneurs are,” Gardner said, adding that “Israeli innovation delivers no matter what.”
“We are strong and resilient,” he said. “There is no silver bullet, but together we can make it work.”
The post ‘A Soldier for Israel’s Economy’: New Fund Seeks to Deploy Millions of Dollars to Israeli Startups Amid Gaza War first appeared on Algemeiner.com.
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Iran, US Task Experts to Design Framework for a Nuclear Deal, Tehran Says

Atomic symbol and USA and Iranian flags are seen in this illustration taken, September 8, 2022. Photo: REUTERS/Dado Ruvic/Illustration/File Photo
Iran and the United States agreed on Saturday to task experts to start drawing up a framework for a potential nuclear deal, Iran’s foreign minister said, after a second round of talks following President Donald Trump’s threat of military action.
At their second indirect meeting in a week, Foreign Minister Abbas Araqchi negotiated for almost four hours in Rome with Trump’s Middle East envoy Steve Witkoff, through an Omani official who shuttled messages between them.
Trump, who abandoned a 2015 nuclear pact between Tehran and world powers during his first term in 2018, has threatened to attack Iran unless it reaches a new deal swiftly that would prevent it from developing a nuclear weapon.
Iran, which says its nuclear program is peaceful, says it is willing to discuss limited curbs to its atomic work in return for lifting international sanctions.
Speaking on state TV after the talks, Araqchi described them as useful and conducted in a constructive atmosphere.
“We were able to make some progress on a number of principles and goals, and ultimately reached a better understanding,” he said.
“It was agreed that negotiations will continue and move into the next phase, in which expert-level meetings will begin on Wednesday in Oman. The experts will have the opportunity to start designing a framework for an agreement.”
The top negotiators would meet again in Oman next Saturday to “review the experts’ work and assess how closely it aligns with the principles of a potential agreement,” he added.
Echoing cautious comments last week from Supreme Leader Ali Khamenei, he added: “We cannot say for certain that we are optimistic. We are acting very cautiously. There is no reason either to be overly pessimistic.”
There was no immediate comment from the US side following the talks. Trump told reporters on Friday: “I’m for stopping Iran, very simply, from having a nuclear weapon. They can’t have a nuclear weapon. I want Iran to be great and prosperous and terrific.”
Washington’s ally Israel, which opposed the 2015 agreement with Iran that Trump abandoned in 2018, has not ruled out an attack on Iran’s nuclear facilities in the coming months, according to an Israeli official and two other people familiar with the matter.
Since 2019, Iran has breached and far surpassed the 2015 deal’s limits on its uranium enrichment, producing stocks far above what the West says is necessary for a civilian energy program.
A senior Iranian official, who described Iran’s negotiating position on condition of anonymity on Friday, listed its red lines as never agreeing to dismantle its uranium enriching centrifuges, halt enrichment altogether or reduce its enriched uranium stockpile below levels agreed in the 2015 deal.
The post Iran, US Task Experts to Design Framework for a Nuclear Deal, Tehran Says first appeared on Algemeiner.com.
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Hamas Says Fate of US-Israeli Hostage Unknown After Guard Killed in Israel Strike

Varda Ben Baruch, the grandmother of Edan Alexander, 19, an Israeli army volunteer kidnapped by Hamas, attends a special Kabbalat Shabbat ceremony with families of other hostages, in Herzliya, Israel October 27, 2023 REUTERS/Kuba Stezycki
Hamas said on Saturday the fate of an Israeli dual national soldier believed to be the last US citizen held alive in Gaza was unknown, after the body of one of the guards who had been holding him was found killed by an Israeli strike.
A month after Israel abandoned the ceasefire with the resumption of intensive strikes across the breadth of Gaza, Israel was intensifying its attacks.
President Donald Trump’s envoy Steve Witkoff said in March that freeing Edan Alexander, a 21-year-old New Jersey native who was serving in the Israeli army when he was captured during the Oct. 7, 2023 attacks that precipitated the war, was a “top priority.” His release was at the center of talks held between Hamas leaders and US negotiator Adam Boehler last month.
Hamas had said on Tuesday that it had lost contact with the militants holding Alexander after their location was hit in an Israeli attack. On Saturday it said the body of one of the guards had been recovered.
“The fate of the prisoner and the rest of the captors remains unknown,” said Hamas armed wing Al-Qassam Brigades’ spokesperson Abu Ubaida.
“We are trying to protect all the hostages and preserve their lives … but their lives are in danger because of the criminal bombings by the enemy’s army,” Abu Ubaida said.
The Israeli military did not respond to a Reuters request for comment.
Hamas released 38 hostages under the ceasefire that began on January 19. Fifty-nine are still believed to be held in Gaza, fewer than half of them still alive.
Israel put Gaza under a total blockade in March and restarted its assault on March 18 after talks failed to extend the ceasefire. Hamas says it will free remaining hostages only under an agreement that permanently ends the war; Israel says it will agree only to a temporary pause.
On Friday, the Israeli military said it hit about 40 targets across the enclave over the past day. The military on Saturday announced that a 35-year-old soldier had died in combat in Gaza.
NETANYAHU STATEMENT
Late on Thursday Khalil Al-Hayya, Hamas’ Gaza chief, said the movement was willing to swap all remaining 59 hostages for Palestinians jailed in Israel in return for an end to the war and reconstruction of Gaza.
He dismissed an Israeli offer, which includes a demand that Hamas lay down its arms, as imposing “impossible conditions.”
Israel has not responded formally to Al-Hayya’s comments, but ministers have said repeatedly that Hamas must be disarmed completely and can play no role in the future governance of Gaza. Israeli Prime Minister Benjamin Netanyahu is scheduled to give a statement later on Saturday.
Hamas on Saturday also released an undated and edited video of Israeli hostage Elkana Bohbot. Hamas has released several videos over the course of the war of hostages begging to be released. Israeli officials have dismissed past videos as propaganda.
After the video was released, Bohbot’s family said in a statement that they were “deeply shocked and devastated,” and expressed concern for his mental and physical condition.
“How much longer will he be expected to wait and ‘stay strong’?” the family asked, urging for all of the 59 hostages who are still held in Gaza to be brought home.
The post Hamas Says Fate of US-Israeli Hostage Unknown After Guard Killed in Israel Strike first appeared on Algemeiner.com.
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Oman’s Sultan to Meet Putin in Moscow After Iran-US Talks

FILE PHOTO: Sultan Haitham bin Tariq al-Said gives a speech after being sworn in before the royal family council in Muscat, Oman January 11, 2020. Photo: REUTERS/Sultan Al Hasani/File Photo
Oman’s Sultan Haitham bin Tariq al-Said is set to visit Moscow on Monday, days after the start of a round of Muscat-mediated nuclear talks between the US and Iran.
The sultan will hold talks with Russian President Vladimir Putin on Tuesday, the Kremlin said.
Iran and the US started a new round of nuclear talks in Rome on Saturday to resolve their decades-long standoff over Tehran’s atomic aims, under the shadow of President Donald Trump’s threat to unleash military action if diplomacy fails.
Ahead of Saturday’s talks, Iranian Foreign Minister Abbas Araqchi met his Russian counterpart Sergei Lavrov in Moscow. Following the meeting, Lavrov said Russia was “ready to assist, mediate and play any role that will be beneficial to Iran and the USA.”
Moscow has played a role in Iran’s nuclear negotiations in the past as a veto-wielding U.N. Security Council member and signatory to an earlier deal that Trump abandoned during his first term in 2018.
The sultan’s meetings in Moscow visit will focus on cooperation on regional and global issues, the Omani state news agency and the Kremlin said, without providing further detail.
The two leaders are also expected to discuss trade and economic ties, the Kremlin added.
The post Oman’s Sultan to Meet Putin in Moscow After Iran-US Talks first appeared on Algemeiner.com.
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