In March 2015, IVN was awarded a government tender to establish and operate the Yozma Social Business Investment Fund, the world’s first tr-sector fund pooling government, private and philanthropic capital. The tender is a joint effort between the National Insurance Institute, the Finance Ministry and the National Economic Council. The Fund’s social mission is to invest in and mentor social businesses that focus on employment for the young, youth-at-risk, people with special needs, recovering addicts, released convicts, the chronically unemployed, the elderly and single parents.
The Yozma Fund provides investors and philanthropies with a unique opportunity to support social causes with significantly reduced risk. Specifically, as the Israeli Government invests in the Fund, it mitigates the risk of private and philanthropic monies. This in turn attracts investments at market rate interest. In addition, with IVN working closely with the Israeli Government, we can jointly drive overall social business ecosystem strategy and goals as the government adds additional representatives to relevant initiates.
Yozma Fund Board of Directors
IVN’s Yozma Fund is led and managed by principals who have backgrounds in both business entrepreneurship and social change. The Yozma Fund Board of Directors include:
- Itzik Danziger — Yozma Board Chairman
- Benny Levin — IVN Vice-Chairman
- Brenda Morginstin – IVN Investment Committee Member
- Ruthi Simcha – IVN/Yozma Investment Committee Member
- Claudio Yarza – IVN Board Member
- Uri Leventer-Roberts – Representative of the Federation of New York in the IVN/Yozma Investment Committee
- Avi Amidor – Public Representative in the IVN/Yozma Investment Committee
- Michal Simler – IVN/Yozma CEO
- Jackie Goren – Director, Social Business Investment Manager
- Michal Woolfson – Director, Social Management, Assessment and Measurement