Amir Gal Or
Photo: Kobi Koankas
Joint Israeli-Chinese venture to invest in Israeli firms
Agreement signed between Israeli investors, Chinese industrial park, aimed at encouraging local technology companies to venture into Chinese market
A joint Israeli-Chinese venture was launched this week, when the IDB Group and the Infinity venture capital fund announced an agreement with Chinese industrial park SIP, in the framework of which $50 million will be earmarked for Israeli technology companies wishing to begin operating in the Chinese market.
According to the agreement, Israeli firms that choose to launch a branch in China will be allotted space in the industrial park near the city of Suzhou and granted resources, services and funding. The Chinese and Israeli investors will split the cost between them.
Amir Gal-Or, a partner at the Infinity venture capital fund, said that "the business potential in China is enormous. The present and the future lie there, and it's not surprising that huge investments are pouring into China nowadays."
The Chinese government gives incentives to technology companies and venture capital funds, and I believe that the current investment is just the first step of the plans that lie ahead," he added.
