Israeli venture capital funds may not have returned to their previous rates of investment in local start-ups, but in a new twist, they are showing growing interest in foreign companies. Carmel Ventures has led a $10 million financing round in Chinese start-up C2 Microsystems Inc., a developer of system-on-a-chip (SoC) media processors. C2 Microsystems' current investors, China Israel Venture Capital (CIVC), Shenzhen Venture Capital Group, and Mover Enterpriser, also particpated in the round.
C2 Microsystems' SoC enables delivery of high-definition video content from the Internet to televisions, which the company says is carried out at a lower price than any other solution.
Carmel Ventures general partner Ori Bendori said, "The online video is a key area of investment for Carmel Ventures. The convergence of video content from the internet and traditional TV sources is an emerging worldwide trend. China, with the fastest growing economy in the world and rapidly growing video consumption, presents a huge market opportunity for C2 Microsystems' solution. This investment follows our strategy to invest outside of Israel, jointly with a trusted partner, when we recognize an outstanding team and huge potential in an area that falls within our fields of expertise. That’s exactly the case of C2 Microsystems."
Published by Globes [online], Israel business news - www.globes-online.com - on October 12, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009