WBP launches $50m Israel investment fund

The Chinese, US, Israeli fund will invest in Israeli high-tech firms operating in China.

A group of US, Chinese, and Israeli investors have set up WBP Venture Partners, which will raise a fund to invest $50 million in high-tech Israeli companies seeking to do business in China. The fund was founded by B&P Management (China), headed by David Fuchs, Israel's PTl Group Ltd., headed by CEO Zvi Shalgo, and Wujin Economic Zone (WEZ), in Changzhou, one of the most active Chinese cities collaborating with Israeli companies. Fuchs and Shalgo will serve as WBP's managing partners.

WBP Venture Partners is seeking to raise an initial 300 million renmibi ($50 million), to invest in Israeli companies that will operate in China, with an option to a subsequent closing. The average investment in a company will be $2 million. The fund will focus on the life sciences and medical devices, cleantech, telecommunications and mobile, online media, and industrial technologies.

Portfolio companies will get financial strategy assistance, including an exit strategy for listings on the New York, Hong Kong, London, or Shanghai stock exchanges, or acquisition.

"Partnering with PTL Group enables us realize our joint vision regarding the operations of Israeli companies in the Chinese market. I really believe in this unique model, combining investments with a platform of local services, which is an exception in the market," said Fuchs, adding "Technology and innovation are an important advantage, but not sufficient to succeed in China. I've seen American companies fail in China because they lacked local support of the kind the new fund is offering."

"Our objective is to enable Israeli and foreign companies penetrate the Chinese market and grow while preserving their technology and controlling their own business. Experience has shown that a company must have a local team to develop its business in China, as a crucial infrastructure enabling growth and expansion," said Shlago.

Published by Globes [online], Israel business news - www.globes-online.com - on February 26, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments
Your name
Please insert your name
Content
Hyperlink in a new window Hyperlink Right Left underline italic bold Bulleted List Ordered List Face1 Face2 Face3 Face4 Face5 Face6
Your comment

Thanks
You comment was recieved and soon will be published.
In posting comments, I agree to abide by the Terms of Use
Globes encourages lively and frank debate, but posts that the editors consider merely abusive or otherwise inappropriate will be removed. Report inappropriate content
Thank you for posting your comment, which will be reviewed for publication.
Loading Comments...load
Load more comments
Twitter Facebook Linkedin RSS Newsletters גלובס MAD Conference 2017