Israeli venture capitalist Rami Beracha, who worked for the Pitango Investment Fund for over twenty years, is currently initiating the establishment of a new international venture capital investment fund in the United Arab Emirates called Ender Ventures.
The new investment fund aims to connect companies and local entrepreneurs, create a global renewal center in the Persian Gulf state, and position the UAE as a center of excellence. The goals and aspirations of the investment fund, according to Calcalist, are to invest in cyber and advanced technology in the fields of artificial intelligence, quantum computing, virtual reality and cloud infrastructure, robots, skimmers, image processing, sensors, and more.
Rami Beracha hopes to build on past investment success
Beracha has built a successful investment portfolio in communication technology did not come to the world of venture capital investments from the world of finance or technology, but rather from law school.
Beracha began his studies in Tel Aviv, continued in New York, and then did a master's degree in business administration at INSEAD University in France. With a different and refreshing background in the venture capital landscape, Beracha joined the Pitango Fund in 1996, after a stint on Wall Street.
He began his career at the firm as an employee, and in 2000, he became a partner. Most of the investments that Beracha made during his years in the fund were in the field of communications - with an emphasis on the field of chips. Now, he is set to be one of the first Israeli investors in the UAE, in what appears to be another economic move led on par with groundbreaking moves in the past.
Peace agreement opens new economic corridor between Israel and UAE
When it comes to economic investment in the UAE in general and Dubai in particular, it seems that Israel and its investment pioneers, like Rami Beracha, are about to enter a well-oiled machine that works well, and according to experts' forecasts, should continue to grow and develop in the coming years. It is the emerging economy of the UAE that has made the country an attractive destination for investors from all over the world.
The "Abraham Accords," the recently signed peace agreement between Israel and the United Arab Emirates, opened a window to many economic possibilities for Israeli investors in the country and lay the foundations for the establishment of extensive economic ties between the countries.
Israeli investors are entering a large, powerful, attractive and efficient market. The UAE and Dubai attract many investors from all over the world to the Gulf principalities. The areas of investment in the country are many and varied - from real estate through tourism to technology.
Dubai: Playground for foreign investors
The "Desert Jewel", as many call Dubai, is an innovative and even futuristic city adorned with tall buildings, including the tallest tower in the world - Burj Khalifa, that offers many attractions, luxury shopping, festivals, and popular and well-known sporting events like Formula 1.
The pearl of the UAE attracts many investors from all over the world, and across the UAE itself. The country offers economic benefits to attract foreign investors including a law that allows 100% foreign ownership of companies and the issuance of a ten-year residence visa to foreign investors.
According to data from the World Bank, GDP at current prices in the UAE has risen by about 45% in the last decade. The UAE is ranked 11th in the world according to the Ease of Doing Business report for 2019 and first place in the Mediterranean region.
Additionally, the UAE has adopted a policy of bureaucratic relief, certainly compared to Western European and US countries, to attract foreign investors. Taxation in the Gulf state is also very attractive, allowing investors outside the country to enjoy full tax exemption on profits and investments, an exceptional benefit in relation to leading markets in Europe and the US.
Beracha’s powerful investment record
Beracha, who lost his left leg and right hand when he stepped on a mine in Lebanon during the first Lebanon war in 1983, has not let the severe injury stop him from pursuing difficult and demanding sports like sailing and kitesurfing or excelling in his professional life. He has invested a lot of time, energy and resources to support organizations that accompany and assist the wounded and disabled in the IDF.
He accelerated through the ranks of the Pitango Fund, which was crowned the largest venture capital fund in Israel in 2009, to become one of the fund's partners. He was chosen as the ‘Esteemed Partner’ for 2011 in a survey conducted among entrepreneurs and managers of start-up companies in Israel on the Globes website.
Among the most successful and prominent exit deals achieved by Beracha include the sale of Convergin to Oracle for $80 million, the sale of Dion Networks to Broadcom for $180 million, and the sale of MobileAccess to Corning Incorporated worth $ 180 million.
Rami Beracha has been working as a private investor in start-up companies since 2018. The investment funds he managed during his activity recorded returns of twenty percent per year and a threefold return on investment.
Beracha currently serves as chairman of SOSA, which provides innovative models for advanced technological solutions at two global high-tech centers, New York and Tel Aviv.