Adir Capital and Sling Capital Selected for State-Backed Defense-Tech Funds
Israel's Ministry of Finance and Ministry of Defense have chosen Adir Capital and SLING Capital to establish state-guaranteed venture capital funds focused on advanced defense technologies. The initiative aims to bolster Israel's technological, industrial, and defense independence, secure critical supply chains, and encourage investment in defense-tech startups.
The tender was launched to address a shortage of venture capital in manufacturing-intensive and high-risk defense sectors, particularly in light of heightened security needs and geopolitical shifts following the recent war. The program seeks to bridge the gap between the defense establishment, private capital, and Israeli technology companies.
Both Adir Capital and SLING Capital will now work to raise investor capital and commence operations in the coming months. Finance Ministry Director General Yisrael Malachi stated that the state guarantee will enable increased investment in advanced technologies, strengthening Israel's self-sufficiency and supporting local entrepreneurs. Defense Ministry Director General Amir Yifrah emphasized that the funds are part of the ministry's strategy to bolster the defense-tech industry, noting the need to increase R&D investment to maintain Israel's strategic advantage and develop future technological breakthroughs.
Michal Abadi-Boiangiu, Accountant General at the Ministry of Finance, highlighted that state-backed funds are a tool to stimulate economic growth engines, enhance technological and industrial independence, support local entrepreneurship, and secure vital supply chains. Head of the Defense Ministry's Directorate of Defense Research and Development (DDR&D), Danny Gold, added that connecting private capital, tech firms, and defense needs will accelerate the development of defense technologies and strengthen domestic production capabilities.
