Migdal looks to enter venture capital

Israel’s largest insurance company is looking to set up its own venture capital fund to invest directly in local businesses.

Migdal, one of Israel’s largest insurance companies, is looking to establish a venture capital fund to focus on investment opportunities in the region, reports the Israeli newspaper Ha’aretz.

To date the company has invested between $1-5m in venture capital funds that total $20m or more, but is now looking to manage its own fund independently. The exact size of the fund, which is looking to invest in early stage opportunities, has yet to be disclosed.

Migdal is also considering investments in the infrastructure and transportation sectors, including taking a significant stake in the Trans-Israel Highway and light rail projects.

Migdal, the largest insurance company in Israel, employs nearly 100 people in its investment department and manages around NIS31bn (E7bn) in assets.