Founders and managers of Memco software company, which was sold to the Computer Associates software corporation, are setting up a new investment company. The company will be called Emicom Group, and will concentrate on investments in Internet and e-commerce start-ups. The company is enlisting strategic investors, both international and local, as partners. The company's chairman will be former Memco chairman and general manager Israel Mazin. The general manager will be former Memco deputy general manager for finances Dov Gal.
The company did not disclose the sum it was raising, but "Globes" has learned that it will raise tens of millions of dollars at the first stage. "The group brought together in Memco knows how to work as a team and lead companies to success in the world of high tech", Mazin said. Gal said that Emicom Group will supply comprehensive assistance in financing coverage, marketing, and sales to companies in which it invests. The company will also supply legal and financial aid.
Emicom Group intents to invest mostly in companies of Israeli entrepreneurs, at the early stages. The company also cooperates with KenTech, which promotes companies, starting at the conceptual stage.
Gal said that one of Emicom's goals was to help start-up companies penetrate the US market. To that end, the company was opening a branch in Israel and one in the US.
The group began operations several months ago, before founding Emicom Group. "Globes" has learned that the group was one of the largest investors in the Expand start-up. This company has developed a hardware and software system to accelerate communications between two ends of a data communications line.
Published by Israel's Business Arena on December 8, 1999