Ofer Hi Tech Ltd. has allocated $50 million for investing in early-stage medical device start-ups Ofer Hi-Tech CEO Yoav Doppelt told “Globes”. Ofer Hi Tech will make 10-20 investments of $2-7 million each.
Ofer Hi Tech is the high-tech investment arm of Ofer Brothers. It makes investments at three levels: seed-stage investments through the Naiot Venture Accelerator incubator; seed-stage investments through its venture capital arm; and private equity investments in established technology and biotechnology companies. Founded in 1997, Ofer Hi Tech has holdings in almost 80 companies, including several incubator graduates.
Doppelt said 40% of Ofer Hi Tech’s investments were in life science companies, most of which were medical devices companies. “Ofer Hi Tech has acquired experience in investing in the life sciences, and we now want to invest in what we understand,” he said.
According to IVC Online, medical device companies Ofer Hi Tech has invested in to date include: Applied Spectral Imaging Ltd. (ASI), CorAssist Cardiovascular Ltd., Remon Medical Technologies Ltd., Sloflo Ltd., Biosense Webster Israel, and Compugen Ltd. (Nasdaq: CGEN; TASE: CGEN).
Published by Globes [online], Israel business news - www.globes.co.il - on May 30, 2006
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