A thaw in relations between Israel and the United Arab Emirates has raised expectations of an influx of funding in ‘Silicon Wadi’, Israel’s answer to Silicon Valley.
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| Israeli national flags flutter at a business park also housing high tech companies, at Ofer Park in Petah Tikva, Israel August 27, 2020. REUTERS/Ronen Zvulun |
“The UAE has excess amounts of money, but not enough places to invest it in the Middle East,” said Eldad Tamir, founder and CEO of the Tamir Fishman investment house, one of Israel’s top investment funds.
“The high tech sector here is thirsty for money and having new investors from the UAE will help us diversify a bit from our usual Chinese and American investor.”
But deep-seated animosity towards Israel among some investors could cap inflows, according to investment bankers and fund managers in the UAE, the Middle East’s financial hub.
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