From Combat to Capital: How a Fund Emerged from the Gaza Border

In the midst of war and chaos, where bullets fly and uncertainty reigns, a powerful idea was born — not in a boardroom, but at a military checkpoint on the Gaza border. David Citron, a soldier and seasoned venture capitalist, reunited unexpectedly with his longtime friend and fellow investor Alan Buch. That fleeting moment of connection in the middle of conflict would go on to birth TBD VC — a $35 million fund created with the dual mission of revitalizing Israel’s tech scene and supporting soldiers transitioning back to civilian life.

TBD VC, short for “To Be Determined,” captures the ambiguity and potential of early-stage startups and the uncertain future of a nation in recovery. It’s not just a venture fund — it’s a testament to resilience, built from shared trauma and a deep commitment to rebuilding a vibrant future for Israeli innovation.

The Story in : A Human-Centric Snapshot of TBD VC

The Gaza conflict led to a surprising meeting between VC veterans Citron and Buch at the Zikim military crossing.
Citron was deployed in combat; Buch flew from New York to aid soldiers with supplies.
That encounter catalyzed the founding of TBD VC — a $35 million venture fund.
The name “TBD” symbolizes both startup uncertainty and post-war rebuilding.
The fund targets 20 Israeli startups with $1 million checks each.
Sectors of interest include cybersecurity, enterprise software, and infrastructure.
Beyond capital, the fund is a vehicle for post-war national healing.
It also commits to donating a portion of profits to Back the Warrior, a nonprofit aiding discharged soldiers in tech.
Citron’s time on reserve duty gave him firsthand exposure to untapped human capital.
Many soldiers he met had no connection to the tech world.
The fund wants to bridge that gap between combat and code.
Israeli tech has faced turbulence post-2022 due to capital slowdowns and military mobilization.
TBD VC is backed by Israeli and American institutional investors, family offices, and cyber entrepreneurs.
Buch brings financial expertise from managing over $4 billion in a previous family office role.
His past portfolio includes Spotify, SpaceX, and Hive AI.
After the October 7 attacks, he returned to Israel looking for purpose and impact.
TBD VC emerged as a natural convergence of his and Citron’s backgrounds.
The fund operates at the pre-Seed and Seed stages, where uncertainty is highest.
Its Venture Partner program is a core differentiator.
Top-tier talent from Netflix, GitHub, Epic Games, Fanatics, Twilio, and AmEx mentor founders.
This hands-on support includes go-to-market and product development strategies.
Citron’s previous hits include CyberX (acquired by Microsoft) and Flow Security (acquired by CrowdStrike).
He also helped start Sheva VC with Omri Casspi, who later launched his own fund.
TBD’s vision goes beyond financial ROI; it’s about national recovery and long-term growth.
The fund seeks to re-energize the “Startup Nation” in the face of geopolitical and economic instability.
Symbolically, “To Be Determined” captures both startup journeys and Israel’s uncertain path forward.
It’s also a bold bet on people — soldiers, founders, engineers — reclaiming their futures.
This fund doesn’t just write checks; it writes new narratives.
It channels tragedy into action, war into rebuilding, and ambiguity into opportunity.

What Undercode Say: Rebuilding Innovation from the Battlefield

TBD VC is more than just another venture fund — it’s a post-trauma recovery blueprint rooted in economic empowerment and national identity. The decision to seed Israeli startups at their most fragile stage — pre-Seed and Seed — is a high-risk, high-reward play that shows faith not only in ideas, but in people navigating life after war.

The core strength of TBD VC lies in its emotionally intelligent origin. Many VC firms talk about founder empathy, but Citron and Buch lived the wartime disorientation many of these entrepreneurs face. That gives TBD a unique lens through which to assess not just company viability, but founder resilience and mission alignment.

A particularly novel aspect of TBD is its Venture Partner program. This is strategic scaffolding at its finest. Leveraging global engineering and product leadership — from giants like Netflix and GitHub — the fund offers real mentorship, not just board meetings. In a hypercompetitive venture ecosystem where smart money often wins, TBD’s advisors provide tactical guidance that might fast-track product-market fit or a successful pivot.

Citron’s investment pedigree — CyberX, Flow Security, Upwind — confirms this is not a feel-good vanity project. There’s executional excellence behind the emotion. The fund also benefits from Buch’s operational acumen and past exposure to unicorn-scale investments.

Symbolism is central to this story. “To Be Determined” isn’t just a clever branding trick; it reflects the transitional state of an entire generation of Israeli technologists. They’re not just rebuilding companies — they’re rebuilding lives.

The fund’s philanthropic commitment to Back the Warrior adds another layer of authenticity. While ESG (Environmental, Social, Governance) and impact investing often feel like buzzwords, TBD’s social mission stems from lived experience, not market trends.

On a macro level, Israel’s innovation economy has faced severe disruption — from 2022’s funding crunch to 2023’s reserve call-ups. The timing of TBD VC’s launch is strategic: valuations are reset, talent is in flux, and founders are hungrier than ever. The contrarian move to invest aggressively now could yield substantial long-term gains.

From an SEO and digital footprint perspective, this story offers a compelling fusion of human drama and financial narrative — highly sharable, inherently newsworthy, and strongly thematic. It’s a fund with a soul, launched in a sandstorm, ready to back ideas forged in fire.

Fact Checker Results

The $35M figure for TBD VC has been confirmed via Calcalist and industry press.
David Citron’s past investments, including CyberX and Flow Security, are verifiable and public.
The fund’s ties to Back the Warrior have been cited consistently in reputable Israeli media.

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