Iron Nation Fund II

Israel

Seed

About Iron Nation Fund II

Iron Nation Fund II is a $60M fund ($50M already secured) with a $15M anchor from the State of Indiana. Invests seed to Series B in medtech, defense tech, deep tech, cybersecurity, and AI. Evolved from a $20.4M emergency fund launched after October 7, 2023. Early Nvidia exit via portfolio company Illumex.

Investment Focus

Location / RegionIsrael

Funding StageSeed

Industry Focus

Ai Ml

Cybersecurity

Deep Tech

Defense

Med Tech

Investor Signals Profile

active

Sweet Spot

Israeli post-PMF founder scaling physical AI/deep tech into US B2B

Israel-to-US expansion

Physical AI revolution

post-PMF deep tech scaling

seed to Series B

medtech & defense tech

Bullish Signals

Illumex acquired by Nvidia in March 2026, early DPI before Fund II closeblog

$50M of $60M target already secured at announcement in April 2026blog

State of Indiana anchors with $15M, providing real Eli Lilly and IU Health accessblog

24 Fund I companies deployed in 18 months shows strong deal velocityblog

27 investments, $75M AUM deployed with fast iteration cyclewebsite

Ranked #1 Israeli active investor in 2024external

Chemi Peres (Pitango) as Chairman adds institutional weightexternal

Ex-Congressman Luke Messer unlocks US policy accessexternal

Co-invests alongside premier VC funds — broad syndicate networkwebsite

Physical AI thesis explicit: health, food, energy, securitywebsite

Portfolio spans AI, medtech, defense, fintech, agtech, SaaSwebsite

Post-Oct 7 portfolio companies already showing strong tractionwebsite

Collaborative ecosystem fund model with Israeli institutional backingwebsite

Portfolio across cleantech, biotech, agtech solving global challengeswebsite

Purpose-driven: exceptional returns + Israel tech leadership missionwebsite

Contrarian Signals

Crowded Israeli Series A market with Viola, Bessemer, Lightspeed competingblog

US Midwest edge irrelevant for AI infrastructure and cybersecurity dealsblog

Not suitable for pre-seed or pre-revenue foundersblog

Wide vertical spread may dilute thesis focusexternal

Pro-Israel LP base = concentrated geopolitical LP riskwebsite

Geopolitical branding limits appeal beyond pro-Israel LPswebsite

Founder Do's

Show clear product-market fit and existing revenue before approaching

Highlight US Midwest expansion angle, especially Eli Lilly or IU Health relevance

Position for Series A or B readiness, not formation stage

Demonstrate Israeli origin with scalable US go-to-market plan

Lead with Physical AI angle: health, food, energy, security applications

Founder Don'ts

Pitch at pre-revenue or pre-seed stage — wrong fund for formation bets

Ignore Midwest angle and default to Bay Area expansion narrative

Approach without clear path to Series B within fund horizon

Key GPs & Partners

Gil Friedlander

Managing Partner

ex-founderfast-moverthesis-driven

Chen Linchevski

Managing Partner

ex-founderfast-moverhands-on

Jason Wolf

Managing Partner

ex-founderthesis-drivencommunity-builder

Chemi Peres

Chairman

institutional-VCsenior-advisorPitango-network

Izhar Shay

IC Member

policy-connectedex-ministerdeep-tech

Charlie Federman

IC Member

VC-partnerSilverTechco-invest-network

Luke Messer

US Partner

policy-connectedex-congressmanUS-access

LAP

Lyat Avidor Peleg

Chief Marketing Officer

marketing-opsfounder-relationsbrand

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Fund Overview

Fund Size$60M

Saves0

Website

Key People

Gil Friedlander, Chen Linchevski, Jason Wolf

Gil FriedlanderManaging Partner

Chen LinchevskiManaging Partner

Jason WolfManaging Partner

Chemi PeresChairman

Izhar ShayIC Member

Charlie FedermanIC Member

Luke MesserUS Partner

Lyat Avidor PelegChief Marketing Officer

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