Investor Profile: Fresh Fund — Thesis, Cheque Size & How to Apply

Every startup ecosystem has a gap at the very beginning, before a company is ready for a Seed round but after friends and family money runs out. In Israel, Fresh Fund was built to fill exactly that gap. With roots as Israel's first university-focused venture fund in 2016, it has evolved into one of the largest and most active pre-seed investors in the country.

Fresh Fund invests at the pre-seed stage across segments and verticals, often as the first institutional investor, with cheques of up to $1 million. Its current fund size is not publicly disclosed; it was reported to manage $15 million in 2022, when it was also reported to be raising a further fund, so founders should treat that figure as dated rather than current.

Thesis: be the founding friends

Fresh Fund describes its role with a memorable phrase: it tries to be the founding friends, not the fools. The idea is to act like the family-and-friends round for founders who may otherwise struggle to raise a first round, but with institutional discipline, networks and follow-on support. The firm says it values fairness, openness and humility, and that each investment reflects a belief in the founders' talent and capability to build something truly significant.

That accessibility is deliberate. The firm welcomes direct applications from founders with no prior connection to the team, and Seed-stage firms account for around 30 percent of its deal flow, often recommending companies not yet ready for a Seed round. For a pre-seed founder, a Fresh Fund investment can be a stepping stone to a better Seed round, not just a cheque.

The firm was co-founded by Zaki Djemal, who passed away unexpectedly in March 2026 at the age of 38; his family and friends have set up the Zaki Fund in his memory.

Cheque size and portfolio

Fresh Fund invests up to $1 million at pre-seed, often as the first institutional investor. Its portfolio spans four broad themes: AI infrastructure and vertical AI; defence and dual-use; energy, decarbonisation and planetary resilience; and health, bio and food. Portfolio companies include Remilk, a global leader in animal-free dairy; Firmus, a market leader in pre-construction AI design review; Nas.io, which gives creators tools to grow and monetise online communities; CarbonBlue, which develops sustainable technologies to decarbonise industrial operations; Acsense, a cloud identity backup solution; and Brinker, a disinformation threat mitigation platform.

Fresh Fund is sector-agnostic at pre-seed, backing strong teams across AI, defence, climate, health and food. Founders approaching it should be at the earliest stage, often pre-revenue, seeking a first institutional partner to help them reach Seed.

How to apply for funding

Unlike many venture firms, Fresh Fund offers a genuinely public route in. Founders can apply for funding directly through its website, fresh.fund, where the portfolio page carries a submission form, and the firm has said it welcomes applications from founders with no prior connection to the team. A strong application should explain the problem, why the team can solve it, and what the pre-seed capital will unlock, whether that is a product milestone, a first customer, or readiness for a Seed round.