The contact between Giza Venture Capital and Taiwan until recently was in one direction - there were Taiwanese investors who invested in its fund, or along with the fund in other Israeli companies. Now, the contacts go both ways.
Giza participated in recent days in a $19.1 million funding project by Taiwanese solar energy company Danen Technology. Giza invested along with investors from Taiwan and elsewhere.
Giza has a long history with Taiwan. Since 2001 it has maintained an office there, and Taiwan's National Development Fund invested in the Giza IV fund, which began in 2005.
Danen develops solutions for photo-voltaic solar cells. Danen said it will use the additional capital to expand its capacity from 60MWp currently to 120MWp by the end of 2009.
Giza said today that it was a relatively significant investment of several million dollars. Giza managing partner Ori Kirshner said, "It was an opportunity to combine Israeli technologies with this company." Giza executives added that the option did not refer only to companies in which Giza has already invested, but also in those companies in which it may invest in the future.
Published by Globes [online], Israel business news - www.globes-online.com - on August 31, 2009
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