Tmura Passes $10 Million in Funds Raised for Charity
Tel Aviv, Israel – October 20, 2014 – Tmura – the Israeli Public Service Venture Fund has surpassed the $10,000,000 mark in funds raised to support education- and youth-related charities throughout Israel. This funding has been allocated to more than 100 nonprofit organizations, enhancing the lives of thousands of children in Israel.
360 Israeli and Israel-related high-tech companies have participated in Tmura’s equity donation program to date in support of the organization’s fundraising efforts. With this unique model, Tmura raised significant funds most recently as a result of exits from PrimeSense, Somoto, Soluto, and KitLocate, and now raised an additional $423,000 after it sold shares in Borderfree (NASDAQ: BRDR).
Borderfree, a market leader in international cross-border ecommerce solutions contributed options to Tmura in 2004. Following the company’s recent NASDAQ IPO, these options turned into a significant source of support for youth and education programs around Israel.
With funds generated from earlier exits, Tmura’s grants committee recently added several new organizations to its portfolio of grant recipients, including:
- LEAD – developing next generation of young leaders. Each year, LEAD recruits a new cadre of 120 10th grade students who are trained to initiate, plan, implement, and manage community projects;
- MAOZ – cultivating ethical and professional public and social leaders. The MAOZ fellowship program enhances their senior leadership potential and provides them with a unique cross-sector network that enables them to advance reforms, projects and policy with greater efficacy; and
- SAHI – empowers youth through the values of giving to and helping others. Founded in 2009, the organization now runs 13 groups around the country and is in a position to significantly expand its operations.
Tmura continues to show strong growth, with 41 new companies joining so far this year, bringing the total number of companies that have donated options to the community through Tmura, to 360. New donors include companies like Zebra Medical, Abe’s Market, Everything.Me, Datorama, Zuta Labs, TipRanks, Trendlines, BioCatch, Correlor, Feex, CoolaData, and Windward, as well as partnership interests in Terra Venture Partners and Lool Ventures.
Founded in 2002 by Yadin Kaufmann, Tmura offers companies a unique way to contribute. Rather than soliciting cash donations, Tmura receives grants of stock from companies, typically equal to 0.5% – 1.0% of a company’s share capital, and uses the proceeds from successful “exits” – a public offering, acquisition or sale of shares on the market – to fund education- and youth-related charities in Israel.