Tel Aviv University Sets Up VC Fund
TEL AVIV, Israel, April 16, 2018 /PRNewswire/ --
Tel Aviv University is establishing a venture fund focused on early stage startups named TAU Ventures. This is the first time that a model of that sort is being established in Israel and it is similar to those in the most prestigious universities in the US such as MIT, Berkeley, Stanford, etc.
The fund will operate different incubation programs, together with strategic partners, in various technological fields. The first program running is with NEC, the Japanese giant, focusing on Cyber security.
Among the investors is the anchor Singaporean investment fund, "Chartered High Tech Fund", which unites leading Japanese firms via the designated "Japan - Israel High Tech Fund", as well as additional investors from United States and Canada. The fund will operate in a typical 7 years model.
President of Tel Aviv university, Joseph Klafter addressed: "Tel Aviv University is the most innovative and entrepreneurial university in Israel and I am proud that we evolved to the next essential step. This is a new model in Israel, and sets the university in line with the leading universities in the world. As a university which gathers the leading students and alumni in Israel, TAU Ventures will enable the entrepreneurs among them to execute their revolutionary ideas".
Nimrod Cohen, the Managing Partner of the fund said "the advantage of the fund will be identifying unique opportunities in early stages. TAU Ventures will also be able to offer added value to the entrepreneurs among the students and our alumni of TAU, via variety of resources surrounding the university. The fund will enjoy the wide spectrum of knowledge and support of the industry given the important position TAU holds."
Eyal Agmoni, the Head of Chartered Group said: "we made this investment out of strong belief in the Israeli high tech industry in general, and a deep understanding that the main part of entrepreneurial in Israel generates around Tel Aviv University".
"As a person deeply enthusiastic about higher education and the future of Israel, I am proud to be a part in a fund which will operate under TAUs umbrella "said Bahzad Kianmahd, co-founder and the lead investor from Los Angeles, CA, who is the chairman and CEO of Maxim Commercial Capital. He also added "the fund will have many possibilities for dealing with complex C in the world and it will open doors for the younger generation in Israel."
Contact: Meital Levi, +972-54-7739677,[email protected]
SOURCE Tel Aviv University
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