Roman Abramovich mulls incubator investment

The Chelsea owner has been holding talks at Tel Aviv's TheTime incubator about a first ever investment in Israel.

Russian Jewish billionaire Roman Abramovich, who owns English Premier League club Chelsea, has held meetings with Israeli start ups and technological incubators, including TheTime, controlled by ad executive Ilan Shiloah. Abramovich who has visited Israel many times is currently in the country to attend Shimon Peres' 90th birthday celebrations.

Sources close to TheTime incubator confirmed to "Globes" that Abramovich did hold meetings at the incubator although no agreement has yet been reached regarding an investment.

Shiloah has a 30% stake in the incubator, Nir Tralovsky 25%, executives from MaCann Erickson and Matomy Media Group (17%), Eurocom Group (9%), and other investors (19%).

Abramovich met with some of the start ups at TheTime but talks have not yet reached the stage of an actual investment.

If Abramovich does invest in TheTime or one of its start ups, it will be the first ever investment in Israel by the Russian billionaire.

Published by Globes [online], Israel business news - www.globes-online.com - on June 19, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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