Varana Capital Announces Oversubscription and Largest First Close of an Israel Emergency Fund, our Chai 10x Fund, & Plans for Launch of a Parallel Fund
DENVER, Feb. 21, 2024 /PRNewswire/ -- Varana Capital, an asset management platform specializing in venture capital, private equity, and public markets, proudly announces the successful first close of their Chai 10x Fund. With over $20 million secured and more than $10 million of additional commitments, this marks the largest first closing for emergency Israel funds to date.
As part of Varana's commitment to Israel, The Chai 10x Fund (the "Chai Fund" or the "Fund") operates with heavily discounted fees, ensuring maximum impact and contribution to the growth and success of Israeli tech enterprises. Varana Capital's commitment to this mission is further demonstrated by the personal engagement of their team, who, since the Hamas terrorist attack on October 7th, 2023, have traveled to Israel repeatedly to meet with CEOs, government officials, and senior executives from Israeli financial institutions.
Ezra Gardner, Co-Founder of Varana Capital, recently delivered a keynote address to the Knesset Finance Committee, shedding light on the urgent matter of the $10 billion deficit in foreign investments in Israel. This proactive involvement underscores Varana Capital's dedication to advocating for Israel's economic prosperity and global competitiveness.
Looking ahead, Varana Capital intends to exceed their $50 million target for investment in Israeli tech. Subsequent to the oversubscription in investor spots in the initial Chai 10x Fund, Varana Capital plans to introduce a parallel fund (the "Parallel Fund"), providing investors with the same unique opportunity to support the immediate fundraising needs of Israel, while making exceptional investments. Mirroring the Chai Fund, the Parallel Fund will maintain heavily discounted fees for investors and align its portfolio to support the same companies.
Ezra Gardner, Varana Capital CIO and Chai 10x Fund Portfolio Manager, expressed optimism for his beloved country stating, "I am very pleased with our first closing and our commitment to the Chai Fund mission: making outstanding investments, while supporting the Israeli economy, particularly during these challenging times. I believe this is truly an opportunity to redefine what 'doing well by doing good' means. Please, join us in our mission!"
To learn more about the Varana Capital Chai 10x Fund and the opportunity to invest in the new Parallel Fund, please email [email protected].
About Varana Capital. Founded by Philip Broenniman and Ezra Gardner in 2012, Denver-based Varana Capital, LLC invests in and cooperatively engages with public and private companies, partnering with visionary leaders to create a global impact. For more information, visit Varana Capital's Website, or visit Varana Capital's LinkedIn page.
For media inquiries, please contact [email protected].
SOURCE Varana Capital, LLC
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