There are many Neo-Tech funds out there. Some invest in startups that will create a greener world, some invest in big data, and some are fin-tech based. But have you ever heard about a fund that invests in startups and companies led by entrepreneurs who have previously been convicted of computer/cyber/crypto crimes?
Meet Vantage Fund, the only startup known to man that decided to become a platform for those who were convicted and served time for cyber-related offenses. The fund’s vision is to provide entrepreneurs who paid their debt to society with an equal business opportunity. In addition, vantage plans to help them thrive financially, succeed in business, and positively serve the community.
There are some criteria besides being an ex-convict. There are 17 sustainable development goals and 169 targets of this universal Agenda – integrated and indivisible and balance the three dimensions of sustainable development: the economic, social, and environmental, or the 5 P’s, as defined: People, Planet, Prosperity, Peace, and Partnership.
To understand the idea behind the fund, we might want to look at the founder and GP. Gal Barak, a Leading businessman, serial entrepreneur, and pioneer in Israel’s high-tech and forex field, ran businesses in several countries and generated billions of dollars in revenue even before turning 30.In 2020 Barak was convicted in an Austrian court of fraud and money laundering as part of an online trading platform.
After paying his debt to society, Barak understood the challenge of those convicted of computer crimes when they wanted to make a living, fulfill themselves and integrate into the job market.
“The people we are so intimidated by are some of the most intelligent members of our society. Their skills can benefit our planet and society”.
Barak is not trying to hide his past but emphasizes it to teach, learn, and set an example for people looking for a second chance. “So many people made mistakes, and so many of them paid their dues and are ready for their new start. It is fair and noble for society to forgive and give a right chance.”
The fund construct is targeted at a €10m AUM pool for the first round and ten years fund life, initial three years to be investment period.
For a start, they aim for approximately 15 startups to fund and support, which means 15 ex-convicts will have a second chance.
It may seem odd to many people, but in a world where most prisoners go back to crime after being released due to a lack of proper rehabilitation, a second chance is a blessing.
Media Contact
Company Name: Vantage Fund
Contact Person: Joe Bernstein
Email: Send Email
Country: Israel
Website: https://vantagefund.io/
