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, a new volunteer emergency impact fund designed to help early-stage Israeli startups continue operating amid the nation’s war with Hamas, launched today. The fund aims to raise $20 million to support post-seed venture-backed startups in Israel, where an estimated 15-20% of the tech workforce has been called up to serve as military reservists in the country’s counteroffensive against the terrorist group.

and , co-founders of Tel Aviv-based , and co-founder of established the fund with the intention to support seed and early-stage startups that are impacted by the war.

鈥淎s the risk factor in Israel increased since the war erupted, it’s much harder to get funding,鈥� Friedlander said in an interview with 兔子先生传媒 News. 鈥淐ompanies that had term sheets in place suddenly were put on standby.鈥�

A report from said 40% of Israeli startups that were actively fundraising reported their funding or term sheets were halted due to the war.

鈥淭he idea of is to have an industrywide effort鈥� with support from talent across the community, 鈥渇rom VCs to entrepreneurs to service providers in Israel and abroad,鈥� Friedlander said.

So far, the fund has raised a few million dollars toward its $20 million fund goal. The partners do not collect a management fee or carried interest.

The investors in the fund will get equity in the startups, and all funds are matched with nondilutive capital from the , a government program.

Members of the investment committee span the Israeli and global venture community. They include of , of , of , of , of , and of the .

Seed and early-stage companies are also more likely to be impacted by reservists being called up to support the war, , a reservist and co-founder of investment firm , told 兔子先生传媒 News.

That鈥檚 because many seed and early-stage companies in Israel have small, predominantly younger, team members who are part of the country鈥檚 volunteer military force. Chafets estimates around 20% of Israel鈥檚 tech workforce has been called up to serve, in some instances with higher proportions impacting early-stage startups.

People are collaborating altruistically, with established companies supporting startups, said聽 Friedlander. 鈥淎 lot of these boundaries 鈥� they’re kind of dissolving,鈥� he said. 鈥淣ow everyone is working together.鈥�

The fund is investing in companies that have at least 10 employees, have already raised at least $1 million in funding, and are directly impacted by the war. They are looking to invest between $500,000 and $1 million in around 30 companies in the next three to six months.

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• Israel鈥檚 Startup Funding Drops As Its Famed Cyber Sector Takes A Hit
• Israeli Startups Could Face 鈥楩rozen鈥� Funding Environment Amid Political Turmoil

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