Sources inform “Globes” that Israeli businessman Jonathan Leitersdorf is raising a $165 million investment fund for investments in small businesses in the US in a variety of fields.
Leitersdorf is trying to raise $50-55 million in Israel and overseas. The US administration will provide the additional money necessary to complete the fund, at the rate of $2 for every dollar that Leitersdorf raises.
The US administration recognizes the plan, which is designed to encourage small businesses, including high-tech companies. The sources added that Bank Leumi USA had already agreed to invest $12 million in the fund.
A senior Israeli financial source said that the plan appeared to be a good one: “Leitersdorf is a trusted and well known businessman in Israel. For us, it’s an opportunity to diversify our investments and reduce our risks. We spread our investments around in order to reduce risk, and this fund could be the right tool.
”Israeli financial concerns have been badly burned in the past, when most of the their investments were in Israel. Investments overseas will certainly improve our exposure to risks.” No response from Leitersdorf was available, as of web posting.
Published by Globes [online] - www.globes.co.il - on June 9, 2004