Varana Capital Welcomes Sagi Dagan, former Head of Strategy and Acting Chairman of Investment Committees at the Israeli Innovation Authority, to the Chai 10X Fund as Senior Advisor and Investment Committee Member

DENVER, June 3, 2024 /PRNewswire/ — Varana Capital is pleased to announce the appointment of Sagi Dagan as Senior Advisor to the Chai 10X Fund, an Israeli resilience fund forged in the wake of the October 7th attacks. With a vision to invigorate the Israeli tech ecosystem, the Chai 10X Fund sets out three core objectives, each in perfect alignment with Sagi’s unparalleled expertise:

Invest in the Israeli Ecosystem: The Chai 10X Fund is committed to deploying capital to exceptionally promising Israeli companies. As the former Chief Strategist and Acting Chairman of Investment Committees for the Israeli Innovation Authority, Sagi brings extensive experience in investing in Israeli VC backed companies. Dagan has overseen billions in direct investments across hundreds of startups in Israel.

Provide strategic help to our portfolio companies: Chai is committed to providing both capital and substantial value to portfolio companies. Sagi’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 add to our already robust efforts in this area. We anticipate the magnitude of our successes to be amplified further.

Collaboration with Government Officials: The fund aims to work hand in hand with government officials to devise innovative economic solutions that propel Israel’s tech sector forward. Sagi Dagan, leveraging his expertise as the former Director and Economic Advisor at the National Economic Council at the Office of the Prime Minister of Israel, brings invaluable experience in designing national initiatives and spearheading strategic endeavors in the hi-tech and venture capital realms.

Ezra Gardner, Varana Capital Co-Founder and CIO, expressed his confidence in Sagi Dagan, stating, “Today will go down as a pivotal moment in the execution of Chai’s mission to be soldiers for the Israeli economy. 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.”

Sagi Dagan adds, “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. 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.”

About Varana Capital: 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. For more information, please visit Varana Capital’s website or connect with us on LinkedIn.

Media Contact: Email: kmj@varanacapital.com

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