Varana Capital announced on Monday the appointment of Sagi Dagan as senior advisor to the Chai 10X Fund, an Israeli resilience fund established after the October 7 attacks to invigorate the Israeli tech ecosystem following three core objectives that align with his expertise.
First, investment in the Israeli ecosystem. The fund is dedicated to deploying capital to promising Israeli companies. As former chief strategist and acting chairman of investment committees for the Israeli Innovation Authority, Dagan brings extensive experience in investing in Israeli VC-backed companies. He has overseen billions in direct investments across hundreds of startups in Israel.
Second, the fund is committed to providing strategic help, both in terms of capital and substantial value, to portfolio companies. Dagan's background in corporate development at Rafael Advanced Defense Systems, where he led renewable energy and deep-tech R&D initiatives, aligns perfectly with this philosophy. His deep understanding of the Israeli startup landscape and strategic experience will enhance the fund's efforts.
Furthermore, the fund aims to foster close work ties with government officials to devise innovative economic solutions that propel Israel's tech sector forward. Dagan's experience as former director and economic advisor at the National Economic Council at the Prime Minister's Office brings valuable expertise in designing national initiatives and leading strategic endeavors in the hi-tech and venture capital sectors.
Varana Capital co-founder and CIO Ezra Gardner expressed confidence in Dagan's appointment. "Today will go down as a pivotal moment in the execution of Chai’s mission to be soldiers for the Israeli economy," he said.
"We believe that Sagi’s unmatched experience in building the IIA is something all Israeli-focused funds would be honored to have and I am proud that he has chosen Varana’s Chai 10x Fund. With his guidance and expertise, we are poised to not just meet but exceed our goals. Today, Israel represents the most attractive investment environment we have ever seen globally."
“I am delighted to join Varana Capital's Chai 10X Fund, where our combined expertise will create powerful synergies to advance Israeli startups and the broader ecosystem," Dagan said.
"My passion for nurturing innovation and enhancing economic resilience aligns perfectly with the fund's mission. Together, we will leverage our strengths to provide essential support, build transformative partnerships, and develop pioneering strategies that will drive Israeli technology and entrepreneurship to unprecedented success”.
Founded in 2012 by Philip Broenniman and Ezra Gardner, Denver-based Varana Capital, LLC focuses on investing in and actively engaging with public and private companies worldwide. The firm partners with visionary leaders to foster global impact.