Sources inform ''Globes'' that Adi Cohen, Moshe Teumim, and Mody Kidon are establishing a new fund to invest in mobile and digital companies. Cohen is a former VP marketing at Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) and Shufersal Ltd. (TASE:SAE), and Teumim and Kidon are the owners of the Gitam BBDO Israel ad agency. The size of the new fund is not yet known.
The fund will reportedly invest in Israeli start-ups in the sector, but may also invest in foreign companies. Cohen will reportedly handle investments in mobile companies, given his experience at Cellcom. He said that he would neither confirm nor deny the report.
Kidon said in response, "There is nothing I can tell you at this time. We're not there yet."
Cohen, Kidon, and Teumim's decision to invest in start-ups is part of a general entry of admen into the investment field. A prominent example is McCann Erickson Israel chairman Ilan Shiloach, who co-founded TheTime with Nir Tarlovski to invest in new media companies. In April, McCann Worldwide Inc. invested $4 million in the venture, at a company value of $30 million. TheTime has invested in 25 ventures to date, mostly investing a few hundred thousand dollars in seed investment per company. Shiloach is also the main shareholder in digital ad company Matomy Media Group Inc., which is set to make $200 million revenue this year and hold an IPO.
Shalmor Avnon Amichay/Y&R Israel owners Rami Shalmor and Gideon Amichay set up FanGager Inc. with its CEO, Eran Gefen. The company helps brands manage their Facebook pages and Twitter accounts.
Y&R Inc. has partnered with Microsoft Corporation (Nasdaq: MSFT) in its new incubator in Israel. As part of this joint program, Y&R Global CEO David Sable visited the incubator last week.
Published by Globes [online], Israel business news - www.globes-online.com - on June 10, 2012
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