The private equity fund has invested in Israeli start-ups, including IntelliDX and InLive.
3i Group CEO Philip Yea has announced that the private equity firm will no longer invest in early-stage companies. Yea said, "A big handicap for European venture capital is the lack of a centre of excellence or "ecosystem" of angel investors, corporate investors and VC firms."
3i Group plc (LSE: III) has $10 billion under management. The company's abandonment of early-stage investment will likely affect Israel. 3i is an investor in Giza Venture Capital, which focuses on early-stage investment. In addition, according to IVC Online, 3i has made numerous direct investments in Israeli start-ups, including IntelliDX Inc. (formerly Glucon), InLive Interactive Inc., Transtech Control Ltd., and OmniGuide Inc..
Giza said that it could not comment on strategic decisions by its investors.
Published by Globes [online], Israel business news - www.globes-online.com - on March 27, 2008
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