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Infinity's Israel-China Fund receives $155 million

Posted: 09 May 2007 ?? ?Print Version ?Bookmark and Share

Keywords:Israel China Fund? Infinity funding? Israeli technology companies?

Infinity Fund has raised $155 million in the initial closing of the new Infinity Israel-China Fund. In a statement, Infinity said it will increase the target size of the fund by $100 million to $250 million.

Participants in the first closing are comprised of investors in Infinity's previous funds, as well as a large number of new investors, including private investors, fund of funds and large institutional investors from the United States, the United Kingdom, Canada, Switzerland, South Africa and Israel. The fund's sponsors include Clal Industries and Investments from the IDB Group, as well as Glenrock Israel, owned by Leon Recanati.

The Infinity Israel-China Fund is Infinity's second fund operating under its Israel-China business model. Last January, Infinity invested in Mate Intelligent Video, marking the first investment of the new fund. Mate develops and sells video surveillance, content analysis and transmission as well as management products for security, safety and retail applications. In this investment, led by Infinity and joined by its Chinese partner, CSVC/SIP, Infinity restructured Mate. Concurrently, Infinity and CSVC/SIP are also organizing and investing in a Chinese company that will serve as the marketing platform for Mate technology in China.

CSVC/SIP will also invest alongside Infinity in future investments. The fund's core strategy is to make large investments in later-stage Israeli technology companies and established Chinese businesses that license, develop and market Israeli technologies for China.

According to Infinity, its initial fund operating under the Israel-China model was the first on-shore fund ever to be approved by the Chinese government (00001 registration number in China). Infinity has invested in six companies and has had two exits, NanoMotion and Shellcase.

- Amir Ben-Artzi
EE Times Europe

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