London – “Al Quds Al Arabi”: The Wall Street Journal has revealed the new investments of Jared Kushner, son-in-law of former US President Donald Trump, in Israel.
Under the title, “The new Jared Kushner company plans to invest Saudi money in Israel,” referring to the Saudi public investment authority’s commitment to $ 2 billion in the new Kushner company.
And the paper said in a report compiled by Deon Nisbaum and Rory Jones that Kushner would invest $ 3 billion in emerging Israeli technology companies, according to people familiar with the investment plan, citing the warmer relations between the two historic enemies. And Kushner’s company “Aventi Partners” was able to raise $ 3 billion, including $ 2 billion from the Saudi sovereign fund, and selected two Israeli companies to invest the money.
The newspaper says that the decision to use Saudi funds in Israeli companies is a sign of the kingdom’s readiness to trade commercially with Israel even without diplomatic relations. Note that commercial transactions could benefit from diplomatic relations between Israel and Gulf countries. The newspaper said that Israel was consolidating its security relations with Arab countries, including the UAE, and after nearly two years of the United States sponsoring the standardization agreements called the “Abraham agreements”, in which Kushner played a role when he was an adviser in the White House. He also forged strong ties with Saudi Crown Prince Prince Mohammed bin Salman.
Since leaving the White House, Kushner has been trying to use his ties in the Middle East to develop his financial company, a business that will bear fruit, whether it succeeds or fails. The newspaper revealed that Saudi Arabia had agreed during the negotiations to the possibility that “Aventi Partners” would direct part of its investments to Israeli companies.
People familiar with the matter have said that Saudi Arabia may be able to open up its markets to Israeli trade through Kushner’s work. In talks by Kushner’s team with Saudi leaders, they were told they could lose access to what they called “Silicon Valley in the Middle East” for countries that have signed normalization agreements with Israel.
In an interview with Kushner, he said he sees his plans as an extension of his work in the White House, which is to expand the relations of Israel and its Arab neighbors who refused to build any relations with Israel until after the establishment of the White House. Palestinian state. “If we can push the Israelis and Muslims in the region to deal with each other commercially, we will focus people’s attention on common interests and values,” he said, adding: “We have driven a historic regional change that needs to be strengthened. be cherished to its full potential. ” Kushner and his team declined to discuss which company they would choose to invest in Israel, and how much money they would invest, and Kushner declined to discuss his talks with bin Salman, who oversees the Saudi sovereign fund. Informants said the emir was the one who decided to approve investments that may go to Israel. newspaper for comment did not respond.
The fund has been entrusted with the task of transforming the Saudi economy by investing in modern technology and architectural projects such as the city of the future “NEOM”, for which $ 500 billion has been allocated. The Crown Prince expressed to his advisers his hope that Israeli companies would participate in investments in the project, specifically in cyber security and biotechnology. In November 2020, the Crown Prince met former Prime Minister Benjamin Netanyahu amid speculation about an agreement, but the new administration slowed the momentum.
The newspaper revealed that Kushner and his team traveled to Israel in March after securing the Saudi investment, and met a number of Israeli companies seeking funding from the Kushner Company. The latter met beginners who work in everything from healthcare to agriculture, software and cyber. “The increased prosperity in the region and the construction of trade bridges over it, has opened up the potential for building strong relationships with the signing of the Ibrahim agreements,” said Eli Wertmann, co-founder of Beko Venture Partners, which helped build the Kushner -meetings.
The newspaper said that Kushner tried to present his investment plans to countries in the Gulf, such as Qatar and Saudi Arabia, which did not sign the opening of the relationship with Israel. Even before the signing of the standardization agreement, the UAE allowed Israeli companies to open operations in the country. The Gulf state now has commercial contracts with Israel. Mubadala Investments, which owns $ 250 billion, has signed $ 20 million contracts with six Israeli companies. So does the sovereign group “EDQ”, which leads $ 105 million in investments in “Alf Farms”, the company known for producing meat through its laboratories.
The newspaper pointed out that Saudi Arabia is not the only country that Kushner is trying to get him to pursue commercial relations with Israel, even without diplomatic relations. It also focuses on the largest Muslim country, Indonesia, according to people with knowledge of the details. Before leaving the White House, Kushner’s team worked to persuade Indonesia to open its relations with Israel, and no agreement was reached before the US presidential election, and Indonesian officials declined to comment.
Aventi Partners is facing intense competition in the emerging market, which has experienced a boom and a multitude of investments in recent years, and the year 2021 set a record in fundraising, followed by efforts in the first quarter of this year. decreased. Ayelet Fresh, a brand consultant who helped arrange Kushner’s meetings, said he was well received by several companies. She said: “Jared Kushner opens doors for you. It can open doors for you even in countries with which you have no relations, such as Saudi Arabia and Indonesia.”
Kushner believes that strengthening economic relations opens up the perspective of normalization between Saudi Arabia and Israel, “and whenever it creates trade relations and introduces innovation to the region, we strengthen relations between people who want to go down this path and weaken those who are trapped in the old way. ”