The Ofir-SouthUp Ventures fund is set to make its first investments soon, focusing on tech companies in the Western Negev or relocating operations there. The fund aims to raise between $20 million and $30 million, with investors including kibbutzim, entrepreneurs, and various foundations.
Named after Ofir Libstein, a regional leader tragically killed on October 7, the fund has significant local support, particularly from Kfar Aza, which was heavily impacted by the attack. Established as the investment wing of the SouthUp incubator, the fund has already invested in ZutaCore, a company specializing in AI chip cooling systems.
Dr. Ami Appelbaum, the fund’s chairman, emphasizes a commitment to economic growth in the region, noting that many see the fund’s potential beyond mere philanthropy. The goal is to foster a sustainable tech ecosystem outside Israel’s central regions. Current plans also include the establishment of OfirTech Park, expected to open in 2027, aimed at attracting startups to the area.
