Canadian company Awz raises $75 million to invest in Israeli security technology

Canadian venture capital firm Awz launched Awz X-Seed in partnership with MAFAT – the Defense Research and Development Directorate of the Israeli Ministry of Defense (DDR&D) and other Israeli security agencies to invest in “pre-incorporation” and “incorporation” companies. Innovative security technologies with important commercial applications in the civil sector. Awz X-Seed has raised more than $75 million, well above its target of $50 million for investments. Ten investment opportunities have already been identified in cloud, quantum, space, deep technology, robotics, artificial intelligence, and cybersecurity. Every 18 months, Awz Ventures will raise another $75 million to invest in its next group of 15 companies, which will be based in the Tel Aviv Business Acceleration Center. Awz is chaired by founder and managing partner Yaron Ashkenazi while former Canadian Prime Minister Stephen J. Harper serves as chair of the advisory committee. Each portfolio company will receive an undiluted business package including office space in the Awz X-Seed Center, advanced marketing and business development, and technology mentoring services provided by the professional team within the center. Portfolio companies will benefit more from Awz Ventures’ business development offices in Canada, the United States and the United Arab Emirates which will support the companies in expanding their global client base. This strategy will also allow Awz X-Seed to support its portfolio companies in accelerating their commercialization and technology development to reach Class A with a higher rating. Awz X-Seed will initially invest an average of $3 million – $5 million in each portfolio company. The top performing companies will be considered in subsequent investment rounds by Awz Ventures’ growth stage funds, along with third-party investors. Ashkenazi said, Awz Ventures’ unique strategic partnership with MAFAT and other Israeli security agencies will allow our center the most advanced deal flow that stems from real needs recognized in the security industry that also have multiple applications within the commercial sector. We will fill these needs and gaps in the market by investing in existing businesses and creating businesses together from scratch. Awz X-Seed is headed up by Ashkenazi, and Daniel Mack, a Canadian high-tech investor and general partner of Awz Ventures, along with two Israel-based general partners: Roni Alsheich, former deputy director of the Israel Security Agency (Shin Bet) and Sharon Gal, president A former technology innovation in the Israeli Prime Minister’s Office.Awz Ventures was founded in Canada in 2016 by Ashkenazi, a former Israeli Shin Bet official, and Chairman Edward Sunshin, founder and president of one of Canada’s largest real estate investment trusts, RioCan REIT. Former Canadian Minister Promotes Israeli Investments Israeli Cybersecurity Firm Raise $10 Million MAFAT is Israel’s Ministry of Defense DDR&D, responsible for supporting Israel’s entire defense infrastructure in science and technology projects and finding solutions to Israel’s most pressing security challenges.Published by Globes, Israel business news – en.globes.co.il – August 12, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021