Vast Data turns secondary deal proceeds into $1 million scholarship fund for Israeli AI students
The data infrastructure company and Tmura Foundation will establish a fund for computer science and artificial intelligence students at Tel Aviv University, the Technion, and the Open University.
Vast Data, one of Israel’s fastest-growing technology companies, is using proceeds from a recent secondary transaction to establish a NIS 3 million ($1M) scholarship fund for artificial intelligence and computer science students at Tel Aviv University, the Technion, and the Open University.
The fund, established together with the Tmura Foundation, will be financed through options that Vast Data donated in its early years and that were exercised following the company’s recent secondary transaction at a $30 billion valuation. The scholarships will target students who meet academic, socioeconomic and social criteria, with the goal of expanding access to Israel’s future technology workforce.
Rather than directing the proceeds toward a broad charitable initiative, Vast Data requested that the entire contribution be dedicated to scholarships for students entering fields viewed as increasingly critical to Israel’s technology sector.
"Academia is often the first bridge that allows a young student to move from a difficult starting point to a world of possibilities," said Shachar Fienblit, co-founder of Vast Data. "We believe there is great significance in being able to give excellent students the opportunity to focus on personal and professional development, for their own sake and for the continued strength of the Israeli economy and industry."
The fund will operate in cooperation with student deans and welfare departments at the three universities, with the goal of supporting students who demonstrate both academic potential and financial need.
For Tmura, the donation represents one of its largest contributions from a private Israeli technology company. The foundation said Vast Data has joined its "Communicorns" club, a group of companies whose contributions have exceeded $1 million, and currently ranks sixth among the largest contributors in the organization’s history, alongside companies including Q, Aquarius Engines, BioCatch, Outbrain, M-Systems, Riskified and Waze.
The foundation added that the options donated by Vast Data have only been partially exercised and that additional contributions could increase in the future.
Founded in 2002 by Yadin Kaufmann, Tmura works by receiving equity options from startups at early stages, allowing young companies to commit future value rather than cash at a time when resources are limited. When companies are acquired or go public, the options can generate funds for educational and social initiatives.
To date, Tmura says it has donated more than NIS 130 million to educational and social causes in Israel.
Baruch Lipner, CEO of Tmura, said the contribution demonstrates how private technology success can be translated into broader economic and social impact.
"When a company like Vast Data chooses to donate to students at the beginning of their journey, it proves beyond any doubt its social responsibility," he said. "Business success translates here into a significant springboard for the generation of future entrepreneurs."
