David Ofer is stepping down as chief executive of Zodiac Tankers after nearly a decade, to concentrate on driving his family’s venture capital fund that invests in technology start-ups.

Ofer, 38, has become managing partner of OG Tech Global, which has invested in 26 companies involved in blockchain infrastructure, artificial intelligence, robotics and other areas since it was set up in 2017.

He is being succeeded as head of the London-based group’s crude and product tanker operation by Luca Dessy, 33, who has been one of the company’s directors for five years.

Zodiac’s tanker operation controls more than 30 ships, including 10 product tankers, six VLCCs, six suezmaxes and nine aframaxes, according to Clarksons data.

David has been reporting to his elder brother, Daniel, 41, who remains chief executive of Zodiac Maritime, the concern responsible for the group’s fleet — which is one of the world’s largest privately-owned with over 185 vessels totalling more than 20m dwt.

Sam Gontha remains Zodiac’s deputy chief executive officer at Daniel’s side running the group’s dry bulk, chemical and gas tanker fleets.

The moves were announced in a letter to Zodiac staff from group chairman and David and Daniel’s father, Eyal Ofer.

David, who was educated at Columbia Business School, has been involved in managing OG Tech since its foundation, alongside running the tanker business.

Growth ambitions for the tech venture capital — which focuses on funding early stage growth — now demands his full-time attention.

Among the companies backed by OG Tech are Paxos, WSC Sports and Arbe Robotics.

David Ofer is leaving Zodiac to head OG Tech, as the Ofer Global group continues to expand. Photo: Ofer Global

Paxos runs blockchain infrastructure for financial institutions’ cryptocurrency operations. At its last funding round in May last year, it was valued at $2.4bn, although the recent crypto crash may now have cut that.

WSC Sports uses AI to generate highlights of sports events in real time for broadcasters and betting companies. Arbe Robotics was floated in an initial public offering on the Nasdaq in October 2021 and is now valued at around $366m.

OG Tech is the latest spin-off venture from Eyal Ofer’s Ofer Global group, which was created in 2013 after the death of his father, Sammy, and the division of the family’s assets between Eyal and younger brother Idan, who is based in Singapore.

David worked in the group’s shipping operations in Singapore before returning to London when the fleet was divided to lead Zodiac’s tanker operation.

In 2015, Ofer Global founded OG Energy to work in areas around the energy transition and now has investments in renewable green hydrogen company Tree Energy Solutions, Omni Offshore Terminals and others.

In the decade since the family’s assets were divided, Zodiac has more than tripled its deadweight tonnage and expanded in its five core fleets of dry bulk, tankers, container ships, car carriers and chemical/LPG sectors.

It claims to have the largest commercial fleet on the UK flag, and be the world’s third-largest non-operating owner of boxships.

Zodiac has 29 vessels on order, according to Clarksons, including 16 that will be capable of burning LNG as fuel, 10 of which are 15,000-teu container ships and six are pure car carriers.

In its most recent environmental report for 2020, Zodiac said it had made “significant investment” in retrofit technology to improve fuel consumption and cut carbon and other emissions.

Ofer Global also controls Global Holdings, a property investment firm built by Eyal in New York in the 1980s, which has a portfolio of over 10m square feet comprising over 120 properties and 2,500 hotel rooms.