Former IDF chief of staff Aviv Kochavi is joining Canadian venture capital fund AWZ Ventures, in a move that reflects a growing trend for retired top Israeli security forces officers to enter the tech sector. Kochavi, who stepped down as IDF chief of staff in January 2023, joins a list of former top security forces officers including former Israel Police commissioner Roni Alsheikh.
AWZ founder and managing partner Yaron Ashkenazi said, "We are delighted that Major General (res.) Aviv Kokhavi is joining. Aviv will greatly contribute from his ability and experience to promoting our revolutionary deep tech ventures and breakthrough portfolio companies." Ashkenazi stressed his expected contribution to developing AWZ's international connections with leading organizations in the global industry, research institutes, and academic institutions.
AWZ, which was founded in 2016 by Ashkenazi and Edward Sonshine, has become a major player in dual investment technology - serving both the commercial and military markets. With accumulated investments of $2 billion, the fund focuses on advanced fields like quantum photonics, climate technologies, med-tech. AI, cybersecurity and intelligence.
One of AWZ's successful Israeli investments has been automated security validation company Pentera, which became a unicorn when it raised $150 million in 2022 at a valuation of $1 billion. Another success has been quantum computing software company Classiq, which completed a $49 million financing round.
In 2021, AWZ set up the X-Seed fund with the Ministry of Defense's Directorate of Defense Research & Development (DDR&D) (MAFAT). Managed by Alsheikh and former Shikun & Binui CEO Ofer Kotler, the fund raised $82.5 million for investment in defense and intelligence technologies with commercial potential.
Kokhavi's appointment comes at a crucial time as demand for advanced defense technologies is growing due to the wars in Israel and Ukraine.
Published by Globes, Israel business news - en.globes.co.il - on December 2, 2024.
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