Sunday, May 08, 2011

Surge in foreign investment in Israel

From "Straight from the Jerusalem Boardroom" #152, May 06, 2011, by Yoram Ettinger
(here's what's happening in Israel while Hamas and Fatah kiss and make up, to work on the two pillars of their economy: international aid and terrorism):

1.  Israel's unemployment has declined to 6% in February, 2011, compared with 6.2% in December 2010 and 7.7% in December 2009 (April 29, 2011). The Houston-based ATP Oil & Gas, which specializes in deep off-shore drilling, received a license to drill in Israel (Globes, April 15).

2.   The NY-based OrbiMed, the largest healthcare investment firm, established a $200MN Israel-dedicated fund, in order to leverage cutting-edge Israeli innovations (Globes, April 7).  The NY-based Yorkville Capital intends to invest $100MN in Israeli companies during 2011. Last week Yorkville invested $50MN in Israel's Elbit Imaging (Globes, April 5).

3.  The Irvine-based Broadcom acquired Israel's Provigent for $340MN, Broadcom's 8th Israeli acquisition since November 2000 – VisionTech for $250MN, Dune Networks - $178MN, Pecello - $86MN, Siliquent - $84MN, Octalica - $31MN, SighticVista - $15MN and MStream - $10MN (Globes March 22). The San Jose-based Align Technology acquired Israel's Cadent for $190MN (Globes, March 31). Santa Clara-based Internet security giant, Mcafee, acquired Israel's Sentrigo for $35MN (Globes March 24).  Boston Scientific acquired Israel's S.I. Therapies for $20MN - $5MN in cash and the balance according to milestones (Globes, April 5). The Seattle-based Getty Images acquired Israel's PicScout for $20MN (Globes, April 28).  India's Ybrant acquired Israel's PicApp for $10MN, its 2nd Israeli acquisition – Oridian for $15MN in 2007 (Globes, April 8).

4.   A 39% increase in high-tech investments during the 1st quarter of 2011 - $479MN invested in 140 companies – the best quarter in two years, compared with $234MN in 91 companies during the 1st quarter of 2010. 28% invested by Israeli investors (Globes, April 14).

5.  The London-based Sam Capital and the Minneapolis-based Piper Jaffray participated in a $60MN investment in Israel CleanTech Ventures (Globes, April 13).  The Luxembourg-based Mangrove Capital Partners, the Menlo Park-based Benchmark Capital and Bessemer Venture Partners, the Palo Alto-based DAG Ventures and the NY-based Insight Venture Partners participated in a $40MN round by Israel's Weeks (Globes, March 30). The Hong Kong-based Pacific Technology Fund and the Menlo Park-based Bessemer participated in a $26MN 4th round by Israel's Altair (Globes, April 11). The Boston-based Spark Capital and the Menlo Park Bessemer and Redpoint Ventures participated in a $20MN round by Israel's AdaptTV (Globes, March 30).  The Menlo Park-based Draper, Fisher, Jurvetson and the Menlo Park-based Kleiner Perkins co-led an $18MN round by Israel's agro-tech Kiima (Globes, April 6).  The UK-based Lewis Trust Group participated in an $18MN round of private placement by Israel's OrSense (Globes, May 3). The Boston-based Globespan and the Menlo Park-based Sequoia Capital participated in a $15MN 3rd round by Israel's Kaminario (Globes, May 3).  Motorola Ventures, the Needham-based Stata Ventures, the Tulsa-based Argonaut Private Equity, the San Jose-based Stryker Endoscopy and the Japan-based NTT invested $15MN in Israel's Amimon (Globes, March 25).  Germany's medical giant, Merck committed 10MN Euro to Israel's biomed incubator in Yavneh (Globes, March 31). The Menlo Park-based Benchmark, the Palo Alto-based DAG Ventures and the Menlo Park-based Opus Ventures participated in a $12MN 4th round by Israel's Clarizen (Globes, May 2). The S.F.-based Saints Capital led a $12MN 5th round by Israel's AngioScore, which is located in California (Globes, April 28).  The NY-based OrbiMed invested $10.5MN in Israel's SMT (Globes, April 4).  The London, NY and Sidney-based Generation CleanTech Investment Management invested $10MN in a 3rd round by Israel's Tigo Energy, its second Israeli investment - $10MN in GreenRoad in 2010 (Globes, April 14). The Waltham-based Northbridge Venture Partners, the Boston-based Egan Venture Capital and the Deerfield-based Vernon & Park Capital invested $4MN in a 3rd round by Israel's CurrenSee (April 21).  The Boston-based Schooner Capital participated in a $4MN 1st round by Israel's Zixi (Globes, April 13).  The Menlo-Park Benchmark and the Bellevue-based Trilogy Partners and Ignition Partners invested $4MN in a 4th round by Israel's Xeround (Globes, April 6).  Eric Schmidt, Google's outgoing CEO invested $1MN in Israel's EyeView (Globes, May 2).

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