UAE-Israel private sector investment to exceed $10b

Jon Medved, CEO of Israel’s investment platform OurCrowd, said in an interview that the normalisation of relations between the UAE and Israel following the signing of the peace agreement, known as Abraham Accord, would be “an unbelievable game-changer” in the two-way investment sphere.

At present, the governments of the UAE, Israel and the US are leading the way by setting up a joint $3 billion investment fund headquartered in Jerusalem as part of efforts to normalise relations and promote regional economic development.

“But the real activity is happening in the private sector as there is a lot of enthusiasm on both sides. I dare say over $10 bilateral of bilateral investment action will be happening both ways,” Medved, one of Israel’s most active venture capital investors, told CNBC.

“The UAE investors coming into the Israeli tech market are among the most sophisticated in the world, likewise hi-tech Israeli investors going to the Emirates. It will result in building a Middle East tech hub. It has been a long-standing dream and it is happening now,” said Medved.

He said both Abu Dhabi and Dubai are “shining beacons of opportunity. There will be no better testbed for Israeli technology than cities in the UAE.” The broad partnerships will not stop at tech but also have positive ramifications in education, tourism, energy and security.

Medved’s OurCrowd, an equity crowdfunding platform with more than 55,000 investors, manages more than $1.5 billion in committed funds. It recently announced a partnership with the UAE firm Phoenix to ramp up bilateral business and tech ties.