Israel, Denmark to establish investment fund

Danish initiative to branch out local companies to other countries reaches Israel. Countries sign preliminary contract for joint investment fund
Gil Kalian

According to a report in Yedioth Ahronot Thursday, Denmark and Israel signed a preliminary contract for the establishment of a joint investment fund.

The agreement was signed during a visit by Danish Science, Technology, and Innovation Minister Helge Sander over the past two days. The intention was to start operating the new fund by the coming summer.

The fund was expected to focus on investments in the biotechnology and medical instruments fields.

Sander, along with a Danish envoy of senior businessmen, met with representatives of Yeda, Hadasit, Teva, and Intel during their visit to Israel.

However, the start of the fund depends on a Danish restriction.

Since the coming year’s investment budget has already been approved, the Danish investment committee – which is separate from the government – would have to approve the start of the fund, in order to be able to budget money for it.

Regardless, Sander said that the intention was to begin operating the fund as soon as possible, even with a small amount of money, and to then increase investments in the coming years.

Denmark was also planning to include Israel in a pilot it was trying with several other countries, with the goal of increasing involvement of Danish companies in those countries.

Israel was defined as a leader in the Biotechnology field, and Danish companies wishing to operate in Israel would receive benefits from Denmark.