Israel’s Tech Sector Donating Stock To Support Child Victims Of Oct. 7

Members of Israel’s high-tech sector are donating shares in their companies to help support the Israeli children caught up in Hamas’ mass terror attack of October 7, that left 1,200 people murdered, hundreds wounded and more than 100 still in captivity in Gaza. 

The fund, dubbed Valoo for the Kids, is the initiative of the founders of the Valoo investment firm Adi Weitzhandler and Meir Steigman, and, according to the Israeli media, has so far raised around $20 million in stock donations from shareholders of various companies. 

“After October 7, we looked for a way to help and realized we could contribute Valoo’s technology to create a new channel for donations where the entire Israeli tech sector can contribute, leveraging the unique value it generates,” Weitzhandler told the local media. 

The project is operated in association with Israeli public service venture fund Tmura, and aims to have donations from 100 Israeli tech companies by the end of the year. 

The companies that have already donated stock include Zesty, eToro and Reflectiz, while the project has received support from LeumiTech and PwC, among others.  

The stock will be converted to cash when companies are bought out or go public, creating funds that will go to organizations that support the affected children and their families both in the short and long term. 

“The recipients get an asset with increasing value that can be converted to cash according to their needs,” said Weitzhandler and Steigman. 

“We have created a new fund for those who care for children and their needs, financing necessities like mental health treatments, basic needs like housing and food, and even scholarships. We are happy that those who want to donate can make a significant impact and help the children.”