Private Equity
Israel's third-quarter technology funding rose 14 percent on 13 percent fewer deals, according to a survey by the IVC Research Center of Tel Aviv and consultants KPMG Somekh Chaikin. Israeli high-tech companies raised $1.19 billion in the quarter, compared with $1.04 billion in the year-earlier period. Also, the number of funding deals fell to 142 from 164. Adjusting for one large deal, a $204 million bond pricing involving Ormat, funding in the third quarter fell 5.6 percent from a year earlier to $982 million, which the survey called in line with the three-year quarterly average of $1 billion.Through the nine months, Israeli high-tech companies raised $4 billion, a 27 percent above the $3.15 billion of the year-earlier period. The number of deals was 510, up nearly 4 percent from 491.
1 min read · 26 October 2016
The Tel Aviv private equity firm FIMI is in advanced talks to acquire the Israeli subsidiary of the UK-based security-services firm G4S for as much as 400 million shekels, or $105 million, the Israeli daily Haaretz reported. Quoting anonymous sources, the paper said that a purchase price of 350 million to 400 million shekels would indicate a multiple of 6x or 7x annual EBITDA at the Israeli unit. Several months ago G4S said that it planned to sell the Israel unit for commercial reasons. Last month, FIMI closed a $1.1 billion fundraising for its sixth fund.
1 min read · 11 August 2016
Israel’s private-equity dealmaking dropped in the second quarter, a report released July 26 said. Deal value in the quarter dropped 22 percent to $1.3 billion from $1.67 billion in the year-earlier quarter, while the number of deals fell by more than half to 13 from 29, the report by the trade group IVC Research Center and the law firm Shibolet & Co said. The comparative figures for Q1 2016 were 15 deals valued at $265 million, the firms, both based in Tel Aviv, said.
1 min read · 26 July 2016
3 min read · 29 June 2016
1 min read · 23 May 2016
1 min read · 23 May 2016
1 min read · 23 May 2016
BioSight Ltd, the Karmiel, Israel, developer of less-toxic chemotherapy drugs, closed a $13 million investment led by Arkin Holdings of Herzliya Pituach, Israel, and Primera Capital of Littleton, Colorado. BioSight said in a statement that it would use the proceeds to fund a multi-center Phase IIb clinical trial of its lead product, Astarabine, which is designed to treat acute lymphoblastic leukemia. Arkin and Primera are to invest $5 million each and current holders, including Michael Ilan Management & Investments of Kadima, Israel, will put in $3 million. The investment will come in two steps, the first immediate and the second conditioned on the company meeting a milestone.
1 min read · 16 May 2016
BioSight Ltd, the Karmiel, Israel, developer of less-toxic chemotherapy drugs, closed a $13 million investment led by Arkin Holdings of Herzliya Pituach, Israel, and Primera Capital of Littleton, Colorado. BioSight said in a statement that it would use the proceeds to fund a multi-center Phase IIb clinical trial of its lead product, Astarabine, which is designed to treat acute lymphoblastic leukemia. Arkin and Primera are to invest $5 million each and current holders, including Michael Ilan Management & Investments of Kadima, Israel, will put in $3 million. The investment will come in two steps, the first immediate and the second conditioned on the company meeting a milestone.
1 min read · 16 May 2016
Olympus Partners named Jim Conroy its third managing partner. Conroy, 55, joined the Stamford, Connecticut, firm in 1990 as it began investing its first fund. The firm said he’d had particular success with healthcare and financial-services investments. His new role will include expanded responsibility on the investment committee and within management. Olympus, founded 1988, manages more than $5.5 billion, the firm’s website says. Its latest fund, Olympus Growth Fund VI, has committed capital of $2.3 billion. Olympus says it makes at most three or four investments a year, ranging $50 million for growth-capital deals to $300 million and more for buyouts.
1 min read · 28 April 2016
