Israeli start-ups ‘reject Web Summit investment’

Silicon Valley outlet The Information is reporting that two tech firms are rejecting money from the event due to Paddy Cosgrave’s comments

It is considered highly unusual for start-ups to return investment they have received from backers

Two Israeli start-ups have reportedly rejected investments from Web Summit’s venture arm due to the controversial comments made by former chief executive Paddy Cosgrave.

The Information, a Silicon Valley-based tech publication, said Lasso Security had contacted Web Summit Ventures to notify it that it wished to return capital it had received and terminate the investment.

Cosgrave aroused anger after he tweeted that many western governments, with the exception of Ireland, had failed to call out ...