TAU Ventures, Tel Aviv University’s early-stage venture capital fund, announced that its portfolio company XTEND is expected to go public on the NASDAQ at an estimated valuation of approximately $1.5 billion.

Founded in 2018 by Aviv Shapira (CEO), Matteo Shapira (CXO), Rubi Liani (CTO), and Adir Tobi (CQO), XTEND develops autonomous drone systems and AI-powered operating platforms. The company plans to list through a merger with JFB Construction Holdings in a transaction that includes a $152 million strategic investment, expected to close in mid-2026. XTEND is expected to trade under the ticker XTND.

TAU Ventures was XTEND’s first investor, initially investing several hundred thousand dollars and later increasing its total investment to approximately $2 million. Some fund investors also participated directly in subsequent rounds.

Following the anticipated listing, the fund is expected to receive approximately $25 million, more than ten times its original investment. Independent follow-on investments by fund investors are expected to generate approximately $125 million in additional returns. The fund stated that this outcome reflects strong investor confidence and that TAU Ventures now intends to raise a third fund.

At the same time, TAU Ventures announced a new investment in Zenyard, founded by Yuval Luria (CEO), Ziv Brandstein (CTO), and Nathan Satanovsky (Chief R&D). Zenyard develops an AI-powered platform that enables cybersecurity researchers to analyze complex binary files and accelerate reverse engineering. The company is already working with paying customers and expanding into the US.

“TAU Ventures is Tel Aviv University’s early-stage venture capital fund, managing $70 million across two funds and investing in Israeli startups at the pre-seed and seed stages,” said Nimrod Cohen, Founder & Managing Partner of TAU Ventures. “As Israel’s first and largest university-affiliated VC fund, we benefit from direct access to the university’s talent, research, and global alumni network. With 28 portfolio companies and a 1,000-square-meter hub on campus, we work closely with founders from the earliest stages and support them as they build global companies.”

Written in collaboration with Tel Aviv University.