Tene Investments Capital Growth, a follow-on fund of Tene Investments, controlled by CEO Dr. Ariel Halperin, has announced its first closing. The fund raised $90 million from Israeli institutions. The fund’s managers predict that it will raise an additional $50-100 million over the coming months.
Tene Investments began operating in early 2005, and has made six investments in kibbutz enterprises to date. Tene Investments Capital Growth will make 10-15 investments in “mid-tech” industries, mostly kibbutz enterprises. The fund has already entered into three investments of $6-30 million, including in Chromagen Ltd. and Caesar Stone Sdot Yam Ltd.
Tene Investments was founded by Halperin, the former chief of staff of the kibbutzTene Investments fund announces first closing The fund raised $90 million from Israeli institutions.
Investors in Tene Investments Capital Growth include Israel Phoenix Assurance Ltd. (TASE: PHOE1;PHOE5) and Leumi & Co., both of which invested in the first fund. New investors are Menorah Mivtachim Pension Ltd. Emilia Development (OFG) Ltd. (TASE:EMDV), and pension and advanced training funds.
Published by Globes [online], Israel business news - www.globes.co.il - on September 26, 2006
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