Israel’s intelligence agency, the Mossad, is launching an investment fund to support high-tech startups and capitalize on emerging technology, Haaretz reported reported earlier this month.
The fund, called Libertad, will invest in firms in exchange for the rights to use the products and technology it develops. The agency plans to start investing later this month, according to Haaretz.
Libertad will fund research and development in fields such as robotics, energy and encryption, according to its website. It can provide as much as 2 million shekels, or about $570,000, for a period of up to two years for most projects.
Other countries’ intelligence agencies have also invested in technology startups — in the United States, the CIA has funded In-Q-Tel, a non-profit venture capital firm, since 1999.