Giza is setting up an investment company that will invest $100 million in Israeli start-ups.
US company THCG today announced completion of a deal in which it is acquiring the investment banking activity of the Israeli Giza group for $10 million. Nasdaq-listed THCG operates an international incubator to support start-ups and provide them with coverage.
The Giza group announced the founding of investment company Znook, which will invest in start-ups and provide coverage up to mature business stage. Znook will invest $100 million in the companies from its own sources. It plans to develop and provide coverage for 25-30 Israeli start-ups from the seed stage and up to exit. The company will specialize in investments in Internet and communications infrastructures.
Zeev Holtzman will head Znook as chairman, and Shuki Ehrlich (formerly Amdocs senior vice president for business development) will serve as president of operations.
The company has already invested $3 million in Globecom, which develops broadband e-commerce infrastructure software. Znook is negotiating investing in a further five companies operating in the cellular Internet, broadband infrastructure and search engines fields.
Published by Israel's Business Arena on 11 April, 2000