Venrock Associates intends to accelerate its Israeli activity and today announced the addition of Ohad Finkelstein as a venture partner. Finkelstein will lead international investments for Venrock from offices in Europe and Israel.
Venrock Associates was founded as the venture capital arm of the Rockefeller Family. Venrock was formed in 1969 to build upon the successful investing activities of the Rockefeller Family that began in the late 1930s, when Laurance Rockefeller was a pioneer in early-stage venture financing. Venrock has invested over $1.8 billion in more than 400 companies in the past 36 years.
Venrock's first international investment, in 1995, was in Check Point (Nasdaq: CHKP), and it continues to invest in Israel, China, and the UK.
Venrock managing general partner Ray Rothrock said today, "We're delighted to have Ohad join us at a time when we're seeing tremendous opportunities outside the US. Today, entrepreneurs are everywhere and access to them is easier than ever, thanks to the Internet. Globalization has definitely come to venture capital. What's needed is someone who can guide and transform innovative startups into world-class companies. Our work with Ohad over the last several years has demonstrated that he has the experience, the relationships, and the reputation to expand Venrock's capabilities and reach."
Finkelstein said, "Venrock's sponsorship will allow me to continue to play an active role in propelling promising companies to the next stage. I've already worked with several Venrock-backed companies: P-Cube, a California-based startup with R&D in Israel acquired by Cisco Systems in 2004, Qpass, and A La Mobile. I've seen the success that can result from Venrock's backing, and look forward to identifying new avenues for the company to explore."
Finkelstein most recently served as chairman, president, and CEO of the UK-based European Interoute Telecom Group. Venrock stated today that Finkelstein transformed Interoute from a pre-paid calling-card company into Europe's largest pan-European network and service provider, establishing operations in 11 European countries.
Finkelstein has also held management positions at companies including VocalTec Communications Ltd., Eurocom Communications Ltd., and Packard Bell Electronics in the U.S. He currently chairs or sits on the boards of several companies, including Electronics Line 3000 Ltd., Ethos Networks Ltd., Exanet Inc., FlexLight Networks Inc., Qpass Inc., and A La Mobile Inc., among others. He has a bachelor's degree in political science from the University of California, Los Angeles.
Venrock's investing history includes such companies as Intel, Apple Computer, Stratacom, Check Point, DoubleClick, Niku, and P-Cube in the IT sector, and Genetics Institute, Centacor, Idexx, Millennium Pharmaceuticals, Illumina, and Coley Pharmaceuticals in the healthcare sector.
Venrock has offices in New York City, Cambridge, MA, and Menlo Park, CA.
Published by Globes [online], Israel business news - www.globes.co.il - on Monday, December 05, 2005