The venture capital funds Disruptive and Disruptive intend to withdraw their funds from Israel

Posted on Jan 27, 2023 by Ifi Reporter

The venture capital funds Disruptive and Disruptive AI of Tal Baranach have informed their investors of their intention to withdraw the fund's funds from Israel and transfer them abroad. The funds together manage 250 million dollars. In doing so, they join the announcement made this morning by Einat Gaz, of Papaya Global, that the company will withdraw its funds from Israel following the revolution the emerging legal
Bernach is one of the most well-known and respected investors in Israel who previously invested in companies such as Iron Source, Anodot, Taylor Brands and others. Among the investors in his funds are Eil Waldman, the founders of WIX and also the entrepreneurs of Iron Source.
High-tech companies raise the money that finances their activities in dollars and convert it to shekels for the needs of salary payments in Israel and payment for the offices. In the last three years, only the private companies, i.e. the Israeli start-ups, raised more than 50 billion dollars from investors abroad, tens of billions of dollars flowed into companies issued on Wall Street and at the same time there is a constant flow of dollars to Israel to finance the activities of the international companies operating here.
A decision by high-tech companies to withdraw their cash balances from banks in Israel may affect both the shekel and the Israeli banks, if there is an accumulated mass of such operations in a short time. A company like Papaya does spread its cash balances in the countries where it has offices, but most of them are located in Israel. Papaya has about 600 employees worldwide. The company, founded in 2016 by Einat Gaz, Reuven Drong and Ofer Herman, develops a system for the global management of employees, wages and benefits - whether they are direct employees, outsourcing employees, subcontractors or global employees employed by the employment companies on behalf of the parent companies. The company's system already handles employees in more than 140 countries around the world.


ABOUT IFI TODAY

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum

Newsline

CEO of the IT company award will go to Shay Basson CEO of Malam Timm

Mar 29, 2024 by Ifi Reporter

The awarding ceremony for excellence in the People and Computer IT Awards competition is imminent - it will take place next Thursday at Lago in Rishon Lezion and will celebrate, as every year, the excellence, innovation, and outstanding projects in the high-tech world. But this year the event... Continue reading →

Former Democratic Senator Joe Lieberman Passes Away at 82 - fell at home

Mar 28, 2024 by Ifi Reporter

The political arena mourns the loss of former Democratic Senator Joe Lieberman, who passed away yesterday at the age of 82. Lieberman, a trailblazer in American politics, made history as the first religious Jewish senator in US history. He leaves behind a legacy marked by his unwavering... Continue reading →

Terrorist Attack Targets Civilians on Route 90 Near Oja in the Jordan valley

Mar 28, 2024 by Ifi Reporter

In a harrowing incident earlier this morning, a shooting attack rocked Route 90 near Oja in the Jordan valley. According to initial reports, a terrorist ambushed a passing bus in the area, unleashing a barrage of gunfire before fleeing the scene. The attack, believed to be premeditated, left a... Continue reading →


Testimonials

No testimonials. Click here to add your testimonials.