|
Israel's TIF Ventures acquires 2 incubators
By Gali Weinreb
Aug 16, 2007, 11:04
New Israeli investment company TIF Ventures has lead the acquisition of Misgav Technology Center and Mofet B’Yehuda Innovation Accelerator for $6 million, and will receive the incubators’ holdings in their portfolio companies. TIF will also receive the right to operate the incubators and accept new companies for which the government will provide grants of 80% of financing for two years.
TIF Ventures has no connection with Singapore’s TIF Ventures pte Ltd., which has made investments in Israeli companies. TIF Ventures was founded by a group of Israeli investors led by Trendlines International Ltd. co-founders and chairmen Steve Rhodes and D. Todd Dollinger, and Adv. Ehud Huberman.
Yorkville Advisors LLC and Lachman Goldman Ventures of the US have invested in TIF. Yorkville Advisors has $800 million in assets managed, and invests in small companies in the healthcare industry and other sectors. This is the company’s first investment in Israel, after making the strategic decision to invest in Israel a few months ago. The company is considering investing $8 million in a Misgav portfolio company, and is interested in two others.
Two Israeli families each invested $1 million in the acquisition of the two incubators, and Trendlines invested $500,000.
Misgav specializes in medical devices, pharmaceuticals, and biotechnology. It has 11 active companies and 12 graduate companies, including ETview Ltd. and Dune Medical Devices Ltd.. The incubator’s companies raised an aggregate $12 million during 2006.
Mofet B’Yehuda specializes in cleantech, software, and medical devices. The incubator has seven active companies, including eBIZ.mobility Ltd., which recently raised $1 million.
Published by Globes [online], Israel business news - www.globes.co.il - on August 16, 2007
STEP Strategy
Advisors
www.STEPStrategy.net
(310) 282 - 0800
BACK to
STEP News
|