Dellet, a unique venture capital firm designed to create a bridge between emerging Israel-based technology companies and the international marketplace was launched on June 1. A Tel Aviv office for Dellet will be opened in the third quarter of this year.
Dellet, whose name means ``door'' in Hebrew, was founded by one of the world's foremost technology analysts, by the president of an American investment firm, and by a leading expert on the Israeli technology universe. The firm will target emerging companies that offer enabling technologies that could fuel the growth of business to business e-commerce, including communications and collaboration, applications hosting, data warehousing, imaging, multimedia and network security.
Focusing solely on new high tech Israeli ventures, Dellet will provide critical financing, provide expert advice on implementing business plans, recommend professional advisors and create relationships that will build a global market for these companies in the United States, Europe and Asia. It will also serve as a portal for investors and companies from these areas.
Dellet's three founding managing directors bring together a strong blend of finance, technology and marketplace connections and experience, including backgrounds with the Israeli Defense Forces and Intelligence Corps and an intimate knowledge of U.S. technology companies and their management teams.
Jay Forman, was General Counsel to the Ministry of Defense, U.S. Mission, for the Israeli government. In that role, he negotiated billions of dollars worth of transactions with major U.S. defense contractors. Prior to joining the Ministry of Defense, Forman worked as a mergers and acquisitions attorney at Fried, Frank, Harris, Shriver & Jacobson, New York.
Michael Gartenberg, is one of the world's leading experts on information technology. Previously, he spent five years as Vice President of Gartner Group, Inc., the world's premier technology Advisory firm. At Gartner, he led research in computer systems platforms, operating software and mobile computing and was its leading analyst covering Microsoft.
Joseph Stechler, is president of Stechler & Company, Inc., an American investment firm that has managed equity portfolios for several of the largest multinational corporations and hedge funds in the U.S. and Europe. Currently, his firm manages proprietary equity portfolios and venture capital investments in the U.S., Europe and Asia. Prior to forming Stechler & Company, Joseph served as an equity analyst at several securities firms and as a corporate lawyer at several leading Wall Street law firms.
``As the name 'Dellet' suggests, we hope to open doors for promising Israeli startups that seek to gain access to global markets,'' said Gartenberg. ``Dellet's experienced leadership will help promising companies realize their potential, meet the challenges ahead and create a strong corporate identity as they grow stronger.''
Published by Israel's Business Arena on June 1, 2000.