Tuesday, September 30, 2014

Chinese firms swoop into Israel looking for tech investments

China Spectator - 25 Sep, 2014

TEL AVIV—Chinese investors are pouring millions into Israel-focused, tech-investment funds — as well as launching their own funds and investing directly in Israeli startups — amid a frenzy of tech investment and deal making here.
Yongjin Group, a Chinese equity-investment management and financial- services company, has put between US$15 million and US$20 million into Israeli venture fund Pitango Venture Capital during the past year, according to people familiar with the matter.
Lenovo Group, the big Chinese computer maker, meanwhile invested around US$10 million in Canaan Partners Israel, a venture fund affiliated with American-based Canaan Partners, in late August.
And Ping An Venture, the venture investment arm of Ping An Insurance (Group), one of China's biggest financial conglomerates, in November created a US$100 million fund dedicated to U.S. and Israel tech ventures. It has made six investments in Israeli startups so far, said Jiang Zhang, an associate director at Ping An Ventures.