Full Breakdown
Cactus Capital: Ben-Gurion Student Venture Fund
6/29/2026, 1:03:49 PM
Core Facts
Cactus Capital is a student-run venture fund at Ben-Gurion University’s Yazamut 360 entrepreneurship center. Chaired by Prof. Carmel Sofer, it evaluates 200 proposals annually, provides seed to 35 startups, and has seen 14 receive follow-on financing. Students move from the Cactus Academy classroom program to analyst roles, then to fund management, with top participants becoming CEOs.
Genesis and Institutional Support
The fund began in 2018 after Roy Kimchi, then a student, discussed a student-run fund with Dana Gavish, head of Yazamut 360. The proposal was endorsed by Adv. Menachem Tulchinski and the university president, framing it as a way to give students real responsibility. Prof. Sofer’s chairmanship formalized the structure within the university’s innovation strategy.
Leadership and Alumni Network
Founding CEO Roy Kimchi (now a Square Peg investor), former CEOs Adi Azulay-Eliram and Uli Konstantino, and current CEO Yael Goldstein, a fourth-year student, have led the fund. Alumni now work across venture firms, startups, and tech companies, sustaining an informal recommendation network that extends the fund’s influence.
Scale and Outcomes
To date, the fund has financed 35 startups, with 14 receiving follow-on rounds, and processes about 200 applications each year.
Educational and Career Impact
Students gain hands-on experience in deal sourcing, due diligence, and portfolio management, and access senior Israeli VC figures, fostering mentorships that shape career paths. Alumni credit the fund for real-money responsibility and for building human-capital networks.
University and Program Statements
Prof. Carmel Sofer says Cactus Capital provides a laboratory for venture investing and reinforces the university’s innovation role. Adi Azulay-Eliram warned that separating impact startups could signal they are not true entrepreneurship. Yael Goldstein noted that, despite the October 7 war, the fund extended timelines and adapted recruitment to keep supporting entrepreneurs.
Criticism and Challenges
Critics argue the impact-investing track may marginalize social ventures, fearing they could be seen as separate. Continuing operations during the war raised concerns about student well-being, but Goldstein argued continuity was essential.
Direct Voices
- “The point was never that people arrived already understanding venture capital. Honestly, none of us really knew venture capital when we entered. What mattered was finding students with a spark.” — Adi Azulay-Eliram, former CEO, Cactus Capital
- “At the time the field felt incredibly gatekept, like a closely guarded secret. You didn’t see LinkedIn posts saying, ‘We’re hiring junior VC people.’ Everything happened by word of mouth.” — Roy Kimchi, founding CEO, Cactus Capital
- “Being a student gives you privileges that disappear later. You can approach top VC investors in the world and ask for their opinion or their help and get a serious reply.” — Roy Kimchi
- “It felt like oxygen.” — Yael Goldstein, current CEO, Cactus Capital
Looking Ahead
The alumni organization is formalizing mentorship pipelines and expanding impact-investing to match emerging tech. Goldstein says the fund must understand how the world changes and adapt, guiding curriculum and investment focus.
