Consensus Business Group manages a $500 million fund for investment in technology commercialization companies.
Hadasit Bio Holdings Ltd. (TASE:HDST) announced yesterday that UK private equity group Consensus Business Group (CBG) acquired 4% of the company for $2 million in a private placement of shares and warrants, with an option to acquire a further 4% for the same amount. Consensus Business Group manages $10 billion in assets, including a $500 million fund for investment in technology commercialization companies. CBG's representative in Israel, Doron Debbie, will join the Hadasit board.
According to Hadasit Bio CEO Ophir Shachaf, CBG employs a unique model for its investments in biotechnology and cleantech and helps companies commercialize their technologies. With Hadasit Bio-Holdings, CBG is following the same investment model that it has applied successfully to similar companies all over the world. Several years ago, it acquired 5.2% of the technology transfer arm of Imperial College, one of the oldest and highest-regarded academic institutions in the UK, and floated it on London’s Alternative Investment Market (AIM), where it currently has a market cap of ₤283 million. It also owns a 7.7% of MSBI, which is a fund to promote and fund spinoffs from the following universities: Columbia University of New York; McGill University in Montreal and Sherbrooke University in Quebec, Canada.
The CBG fund also invests in start-ups and mature companies engaged in various technologies, with special emphasis on life sciences and environmental technologies.
Published by Globes [online], Israel business news - www.globes.co.il - on May 28, 2007
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