A healthcare fund in Israel gets a boost as Liberty University invests $5m from its endowment in a move to stand against calls for education institutions to divest.
Liberty University has invested $5m in an Israel-focused fund through its endowment, according to the Richmond Times-Dispatch.
The fund, managed by Permanens Capital, will support startups in a range of sectors, including oncology, biopharmaceuticals, and digital health, focusing particularly on immuno-oncology.
The fund will also consider investments in technology and defense industries.
The university’s endowment is worth approximately $1bn, according to financial statements.
Liberty said it made the commitment to counter a campaign asking education institutions to divest from the country. The university may increase its investment to $10m to $20m if enough opportunities are identified.
John Regan, co-founder and chief investment officer of Permanens, said: “Israel is a hotbed of healthcare and technology venture capital, and allocations to managers in these sectors are a logical complement to Liberty’s investment portfolio.”
