A Five-Day Trip with Top Executives and Investors
Adam Goldstein, the managing director of investment for the Harvard Management Company (HMC), participated in an exclusive trip to Israel this week. He joined 65 other business leaders and investors from various sectors and countries, who were invited by the Israeli government and the nonprofit organization OurCrowd.
The trip was designed to showcase Israel’s innovation and entrepreneurship, as well as to foster connections and collaborations between the participants and the local ecosystem. The group visited several cities, including Tel Aviv, Jerusalem, and Haifa, and met with Israeli officials, entrepreneurs, academics, and researchers.
Goldstein, who oversees HMC’s $42 billion endowment, said he was impressed by the diversity and quality of the Israeli startups and companies. He also expressed interest in exploring potential investment opportunities in the region, especially in the fields of biotechnology, cybersecurity, and artificial intelligence.
A Strategic Move for HMC and Harvard
Goldstein’s visit to Israel was not only a personal learning experience, but also a strategic move for HMC and Harvard. As the largest university endowment in the world, HMC has been under pressure to improve its performance and diversify its portfolio. In recent years, HMC has undergone several changes, including hiring a new CEO, restructuring its staff, and shifting its asset allocation.
One of the key strategies that HMC has adopted is to increase its exposure to venture capital and private equity, which offer higher returns than traditional assets. However, these investments also entail higher risks and longer lock-up periods, which require careful due diligence and selection.
By joining the trip to Israel, Goldstein was able to gain first-hand insights into one of the most dynamic and innovative markets in the world. Israel, also known as the “Startup Nation”, has more than 6,000 startups and hundreds of venture capital funds, and attracts more than $10 billion in foreign investment annually. Israel is also a global leader in sectors such as health care, agriculture, and defense, which align with Harvard’s research and academic interests.
Goldstein said he hopes to leverage his network and knowledge from the trip to identify and evaluate promising opportunities for HMC and Harvard. He also said he plans to share his experience and findings with his colleagues and peers at the university.
A Positive Impact for Israel and the World
The trip to Israel was not only beneficial for Goldstein and HMC, but also for Israel and the world. According to Jon Medved, the founder and CEO of OurCrowd, the trip was part of a larger initiative to promote Israel’s image and influence as a hub of innovation and collaboration.
Medved said he believes that by bringing together top executives and investors from different backgrounds and industries, the trip can create a positive impact for Israel and the world. He said he hopes that the participants will become ambassadors and partners for Israel, and help spread its vision and values.
Medved also said he expects that the trip will lead to concrete outcomes, such as new investments, partnerships, and projects, that will benefit both the Israeli and the global economy and society.
