investment fund in the UAE
investment fund in the UAE ILTV News

As reported in the Israeli publication Calcalist, Rami Beracha is working to launch a new investment fund in the UAE. Beracha is one of the founders of the Pitango Fund, which recorded more than eighty exits valued at about $2 billion during his time with the investment firm.

With a proven track record in the investment world, Rami Beracha is in the advanced stages of establishing Ender Ventures, a new venture capital fund in the United Arab Emirates. The international investment fund to be established in the UAE will strive to connect entrepreneurs with local companies.

Beracha, who worked for the Pitango Investment Fund for three decades and was integral to the fund's extraordinary successes, is now striving to create a global innovation center in the Middle East investor state and position it as a center of excellence. Calcalist also states that the fund's goal is to invest in, among other things, advanced technology, artificial intelligence, cyber intelligence, quantum computing and cloud infrastructure, virtual reality, robots, skimmers, sensors, and image processing.

Rami Beracha looks to build on past success

Rami Beracha, who has been a private investor in start-up companies since 2018, is one of the partners of the Pitango Fund, which was crowned the largest venture capital fund in Israel in 2009. In a survey conducted among entrepreneurs and managers of start-up companies in Israel on the Globes website, Beracha was chosen as ‘Esteemed Partner’ for 2011.

The most successful exit deals that Beracha accomplished while at Pitango 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 US-based Corning Incorporated in the amount of $180 million.

The investment funds that Rami Beracha managed peaked at returns of about 20% per year and a threefold return on investment. Beracha currently serves as chairman of SOSA, a company that operates in two international high-tech centers, Tel Aviv and New York City, and provides innovative models for advanced technological solutions.

UAE attracts Israeli and foreign investors

The recent "Abraham Accords" signed between the United Arab Emirates and Israel ushered in many and varied economic options for Israeli investors. Israel appears to be moving towards a common economic future with the UAE. Israeli investment pioneers are entering an investment market that already attracts many investors from all over the globe.

Israeli investors like Beracha are now entering a powerful, attractive, but mostly efficient market that is experiencing a period of growth. The UAE was ranked 11th globally in the 2019 Ease of Doing Business Report released by the World Bank, which also listed the country as 1st in the Mediterranean region.

Beracha likely has his eye on investments in advanced technology, a field which he is well acquainted with since most of the investments he made during his years at the Pitango Fund were in the field of communications high-tech with an emphasis in chip technology.

Rami Beracha is launching a new venture capitalist fund in the UAE called Ender Ventures.

Rami Beracha
Rami Beracha צילום: יח"צ

Beracha came to the world of finance and investments from law school, which he began in Tel Aviv, continued in New York, and went on to finish his master’s in business administration at INSEAD. Despite the fact that Beracha doesn’t come from a technological or finance background, he completed an internship on Wall Street and joined the Pitango Foundation in 1996.

In 2000, after four years as an employee of the fund, Beracha reached the rank of partner in the company. Beracha now faces another breakthrough in the investment world as he looks to be among the first Israeli investors in the UAE

Dubai opens its doors to Israel

The emerging economy of the UAE, has made the Persian Gulf state a favorite destination for investors from the West. Economic experts predict that the UAE is expected to become increasingly attractive to foreign investors, and the reasons for this are clear. Dubai, the 'Pearl of the UAE' is a popular and fascinating city, which attracts tourists as well as investors from all over the world.

The city, known as the "Desert Jewel", symbolizes the innovation and the futurism of the UAE as a whole. With many attractions and skyscrapers, such as the tallest tower in the world - Burj Khalifa, festivals, sporting events like Formula 1, and high-end shopping, it is understandable why Dubai is synonymous with luxury.

However, what attracts investors to the UAE most of all is the bureaucratic ease that allows investors to concentrate on investing and create profits. One example that shows how important bureaucratic ease is to UAE leaders is the law enacted in the country which allows companies located in the UAE to be fully foreign owned.

In addition, the state allows foreign investors to obtain a ten-year residence visa in the UAE. Another factor that attracts foreign investors to the country is the tax relief that the UAE allows foreign investors to receive. Investors from abroad are entitled to a full tax exemption on profits and investments. This is an exceptional benefit relative to leading markets in Europe and the US.

For Rami Beracha challenges met with perseverance

As a person and as a businessman, Rami Beracha has demonstrated his ability to strive for greatness in the face of adversity. Beracha was seriously wounded after stepping on a mine during his military service as a paratrooper while serving in Lebanon in 1983. He never let that limitation stop him.

Beyond the accomplishments he has achieved in the investment world, Beracha entered with all his might into the demanding and difficult sport of kite surfing, reaching the highest levels in the industry. In addition, Beracha continues to support those disabled and wounded in the IDF by providing assistance and mentorship.