The fund will invest in Israeli or Israeli affiliated companies working in renewable energy, improved electricity production, water, and clean agritech.
Sources inform ''Globes'' that Israel Cleantech Ventures has completed a first closing of $15-25 million. Cleantech Ventures is run by general partner Jack S. Levy and general partner Glen I.A. Schwaber, formerly of Jerusalem Venture Partners (JVP). Schwaber was apparently hired as an answer to comments that the fund’s partners had no experience in venture capital.
Cleantech Ventures was founded 18 months ago to invest in Israeli companies or companies with an affiliation to Israel working in renewable energy, improved electricity production, water and clean agritech.
The third general partner at Israel Cleantech Ventures is Meir Ukeles, who in the past worked with Glen Schwaber at Jerusalem Global Ltd. Ukeles was with investment bank S.G. Cowen from 2000 to 2004.
Published by Globes [online], Israel business news - www.globes.co.il - on January 21, 2007
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