A major United Arab Emirates sovereign-wealth fund has invested roughly $100 million in venture-capital firms in Israel’s technology sector, according to people familiar with the investments, a fresh sign of deepening business and investment ties between the countries at the forefront of the Abraham Accords.
A year and a half since the deal that normalized diplomatic ties between Israel and the U.A.E., business is growing, with trade between the two counties forecast to reach $2 billion this year, up from roughly $250 million annually before the accords, according to the U.A.E.-Israel Business Council, a trade body representing 6,000 Emirati and Israel businesspeople.
