TLDR:
- Former Israeli Air Force commander, Amikam Norkin, is launching a new defense tech fund named ACE Capital Partners
- The fund will focus on military startups, with Harel Insurance as an anchor investor
Former Israeli Air Force commander, Amikam Norkin, is establishing a new investment fund called ACE Capital Partners in collaboration with the Key1 fund. This fund will focus on defense, aviation, and space, with Harel Insurance serving as an anchor investor. Norkin, along with other military officials, has met with Israeli defense startups and plans to invest in technologies related to drones and UAVs. The fund aims to strengthen the Israeli ecosystem in aviation and space while competing against established American venture capital funds.
Since the current conflicts in Ukraine and Israel have emphasized the importance of innovative defense technologies, there has been a shift in the willingness of VC funds to invest in this sector. The establishment of an innovation division in the Pentagon and NATO’s investment fund for military technologies have opened up new opportunities for startups in the defense tech industry. Israel, having endured intense fighting, has seen an increase in defense-related startups founded by former soldiers, attracting attention from global VC funds like Sequoia and Andreessen Horowitz.
