TEL AVIV Feb 26 China Everbright Ltd (CEL)
and Israel's Catalyst Equity Management said on
Wednesday they have raised $100 million for a private equity
fund that will invest in Israeli companies.
The Catalyst CEL Fund will target mid-to-late stage
companies with proven innovation, whose strategy includes
expansion into emerging markets with a special focus on China,
or firms with products that have significant commercial
potential in these markets.
"Our goal is to reach $200 to $300 million. We just had our
first closing of $100 million but we have strong interest from
Chinese, Israeli and international investors to join the fund,"
Edouard Cukierman, managing partner of the Catalyst CEL Fund,
told Reuters. "We are confident we will be able to reach our
goal by the end of this year."
CEL committed $75 million of the first $100 million.
The fund is examining investments in mature companies in
sectors such as Internet, mobile technology, medical devices,
agro tech and water technology. The first investment is expected
to be made in the coming weeks.
Each investment will range between $20-$25 million. Catalyst
managing partner Alan Dobkin said the fund has the ability to do
much larger deals as its limited partners can co-invest
CEL managing partner Shengyan Fan said the fund was looking
at companies with very strong management and operations and
proven track records in North America or Europe but that have
not been able to make inroads into China.
"We are willing to provide strategic support for such
initiatives," she said.
Fan said Chinese companies are looking for investment
opportunities outside China as they seek new markets, customers
"Israel is known for innovation. That's definitely something
Chinese companies and investors are interested in," she said.
(Reporting by Tova Cohen)