News Archive - June 2017

29 June 2017 - Israeli work permits renewed for 3,000 Chinese construction workers. The workers have been in Israel since 2008. The two countries recently signed an agreement allowing thousands more Chinese construction workers to arrive at the end of this year. Full article (in Hebrew)

28 June 2017 - Highcon Raises $20M in Funding. The round was led by Jerusalem Venture Partners (JVP), with participation from existing Chinese investor Go Capital, among others. The company will use the funds for global reach growth and product development of its digital finishing solutions. Full article

28 June 2017 - OrbiMed closes $431.53 mln for third Asia fund. Target is $450m. Full article

26 June 2017 - Houzz raises $400 million and will build its international presence. The funding will, in part, fuel the company’s international growth. The round was led by Iqoniq Capital with participation from US/China-focused GGV Ventures and others. Full Article

26 June 2017 - Israeli-UK fund MindCET to invest in education technologies. The main investor in the venture will be the Arie Capital fund, joined by the Beracha Foundation; Center for Educational Technology (CET); Indian educational technology company Educorp Technologies; a Japanese company; and an undisclosed Chinese investor. Full article

26 June 2017 - Delek's sale of Phoenix to Fujian Yango falls through. "Because of the prolongation of the process of obtaining approval for transferring control of Phoenix to the Yango group, the parties agreed today on cancellation of the agreement in accordance with the mechanism stipulated within it, and each side has irrevocably and unconditionally waived all claims or damage in relation to the agreement." Full article

25 June 2017 - Israeli social payments co PayKey raises $6m. PayKey has raised $6 million, as part of a Series B finance round of $10 million, led by MizMaa, a US and Chinese backed venture capital fund. Full article

22 June 2017 - Diamond Exchange to set up startup incubator. One prominent concern involved is Chinese fund Pantheon Pacific, believed to manage $1.2 billion in assets. Previous investments in various companies range from $25 - $120 million. Sources said that the Chinese fund is deviating from its usual practice in this case by investing in startups, due to its great interest in e-commerce and robotics. Full article

22 June 2017 - China's Innovative Medical cancels Pluristem investment. Pluristem blamed Chinese foreign currency regulations, but the Chinese company said it was dissatisfied with the results of due diligence. The now-cancelled investment was valued at $30 million. Full article

20 June 2017 - End of an Era: Lee Ka Shing plans to retire next year from Hutchison Group. Now aged 89, the Hong Kong billionaire plans to retire at the age of 90. Lee's business relationship with Israel began in 1999 with the establishment of Partner. Notably, he donated $130 million to the Technion institute of technology in 2013. Full article (in Hebrew)

19 June 2017 - Gamida Cell raises $40m. Investors this round: Shavit Capital (lead); New investors VMS Investment Group (Hong Kong) and Israel Biotech Fund; Existing major shareholder Novartis. VMS Investment stated it is committed to supporting Gamida Cell with its Asia development. Full article

18 June 2017 - Kenon selling part of Qoros stake. Qoros is 50% owned by Kenon unit Quantum and 50% by Chinese auto maker Chery. Kenon reports that it and Chery have agreed with a new Chinese investor on a RMB 6.5 billion ($942 million) investment for 1/3 of Qoros. Full article

15 June 2017 - China Resources will invest in Israeli companies. With registered capital of $1 trillion, China Resources has set up a fund to invest in Israeli companies within the semiconductors, life sciences and other sectors. Deloitte Israel will connect the company with potential investments. Full article (in Hebrew)

15 June 2017 - Technion to launch $200m VC fund. The fund, in partnership with Hong Kong's UGC and Israel's Genesis, will invest in companies related mainly to the Technion and its alumni. Full article

14 June 2017 - TV production platform co eTribez raises $3.5m. The CE Ventures fund led the round, with participation from the Inimiti fund. eTribez offers a cloud-based digital casting system which doubles the number of participants in TV program auditions, saving over 50% in resources and time. eTribez's platform makes it possible to manage all production processes, including budget, timetables, and other aspects. Full article

14 June 2017 - Israel irrigation firm Netafim draws interest from 6 bidders, says report: Reuters. Six international companies and funds have made it to the second round of bidding for buyout group Permira’s [PERM.UL] 61.3% stake in Israeli irrigation firm Netafim. Two of which are Chinese investment fund Primavera and Chinese pipe maker Ningxia Qinglong (002457.SZ). Full article

13 June 2017 - Chinese fund MizMaa to invest $100m in Israel. The fund began operating a year ago, and has operated under the radar up until now. Funding comes from three wealthy Chinese families, and in the next stage, MizMaa will try to raise $150 million for another fund. Full article

13 June 2017 - China is setting up a $440 million investment fund for high-tech in Israel. This is one of three funds targeting Israeli hi-tech companies, totalling over $1 billion. The Chinese government has already approved the fund's launch (on 14 June), and the fund will focus on homeland security, robotics, automobile and cyber technologies. Full article (in Hebrew)

11 June 2017 - Auto-tech Co Foresight set for Nasdaq debut. As a result of the money raised, and the money that will be raised from the exercising of options, Foresight's management can concentrate on continuing development of the system and signing contracts with one or more auto manufacturers in China, and perhaps also in other countries. Full article

9 June 2017 - Quark Venture, GF Securities invest $5 mln in Eloxx Pharma. The investment was part of a $24 million Series C financing led by Pontifax Venture Capital. Quark, a Canadian venture capital firm, and China’s GF Securities are currently raising a $500 million health sciences fund. Full article

4 June 2017 - Glaucoma treatment Co Belkin Laser raises $5m. The funding comprises $2.5 million from Singapore's Zicom Holdings and China's Rimonci Capital. Full article

4 June 2017 - Chinese authorities approve Adama merger with Sanonda. The transaction is expected to be completed in the coming weeks. Full article

1 June 2017 - Orbotech wins $24m Chinese flat panel deal. The $24 million order comes from Chinese flat panel display manufacturer Xianyang CaiHong Optoelectronics Technology Co., Ltd (CHOT), a part of China Electronics Corporation (CEC). Full article

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