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ZEP FUND 2024

Background


The Zep Fund was created as an evergreen fund, with a vision of eventually being a source of support for the program. It also included a provision to support Reichman University, through a 10% of profit contribution to RUNI scholarships.
Initially set up to bridge companies founded right out of the program. After eight years and 42 investments, the data suggests investment amount is small and that companies funded solely by ZEP Fund, that have no additional third party investors leading the round, tend to fail. .
The funding vehicle has has some meaningful exits and dividend payments. These have enabled weaning off program funding over the last few years. In 2022, an addendum was proposed by Sam Zell, stipulating that in order to achieve the intended vision of supporting the annual program budget and in view of the fact that as a bridge the smaller investment amounts without a lead investor were not an optimal use of the funds, a change in investment strategy would be adopted once a surplus of US$500,000 was reached.
In 2023, the fund reached full sustainability as an evergreen fund and herein is a proposal for updating the fund in accordance with the late Sam Zell’s vision and intention.
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