IDG Ventures Europe, which is part of the international media concern IDG (International Data Group), announced today that its UK-based venture capital fund had begun operations in Israel.
The European fund, which has initial investment funds of $100 million, says it has plans to make joint investments with Israeli venture capital funds in Israeli start-ups.
IDG Ventures Europe’s agent for Israeli companies and venture capital funds will be Nisso Cohen, who also serves as chairman of the Koteret Group and country manager for IDC Israel (IDC is IDG’s research arm).
IDG Ventures Europe says it invests about $4 million on average in each of its portfolio companies and specializes in investments in technology companies active in the fields of networking, wireless applications, B2B and B2B software and services, new media, advertising technologies and the Internet.
IDG Ventures Europe says it will prefer Israeli technology companies with headquarters in the United Kingdom.
IDG is a major global player in the media and research field, with annual revenues of over $3 billion. Over the last few years, IDG has established several venture capital funds and currently has $580 million under management worldwide. The first funds were set up at the beginning of the 1990s to finance technology investments in China ($200 million). Worldwide, IDG’s funds have made a total of 85 investments in technology companies.
Published by Israel's Business Arena on 27 November, 2001