Israeli-Chinese fund ValueLink is raising $100-150 million to invest in Chinese-Israeli joint ventures.
Sources inform ''Globes'' that Bank Hapoalim’s (LSE:BKHD; TASE:POLI) private equity arm, Poalim Capital Markets - Investment Bank Ltd., is in advanced negotiating to invest tens of millions of dollars in ValueLink, an Israeli-Chinese fund. Poalim Capital Markets will become a general partner in ValueLink. Poalim Capital Markets said it was negotiating with two of China’s largest and most important investors concerning an investment in the fund.
ValueLink is raising $100-150 million. It plans to focus on investments in joint ventures by Chinese and Israeli companies, especially mature ones, and to link Israeli technologies with the huge Chinese market. ValueLink will focus on semiconductors, biotechnology, telecommunications, and electro-optics.
The spirit behind ValueLink is Dr. Shelley A. Harrison of the US, an inventor of the barcode, and two Chinese partners. So far as is known, a number of Israeli investment institutions will invest in ValueLink. Two key investors that have already pledged investments are Tsinghua University and People's Daily, the official newspaper of China's ruling Communist Party.
Published by Globes [online], Israel business news - www.globes.co.il - on December 7, 2005