Katzir Fund invests $15m in hydroponics co OrganiTech
Katzir Fund: We’ve invested NIS 67 million in kibbutz enterprises prior to the present investment.
Michal Yoshay-Horovits 7 Feb 07 13:23
The Kibbutz Industry Association’s Katzir Fund has acquired 30% of hydroponics company OrganiTech USA Inc. (Pink Sheets:ORGT.PK) for NIS 15 million. Katzir Fund manager Yossi Hebron will be appointed chairman of OrganiTech.
The Katzir Fund said that it has invested NIS 67 million in companies prior to the present investment. The Katzir Fund was founded by Rami Mandola and Harel Insurance Investments Ltd. (TASE: HARL), First International Bank of Israel (TASE: FTIN1;FTIN5) and Poalim Capital Markets - Investment Bank Ltd. It invests in stocks and loans of kibbutz enterprises and kibbutz real estate ventures.
OrganiTech develops and sells hydroponic systems for crops. The company was founded at Technion Entrepreneurial Incubator Co. Ltd. (TEIC) in 1999, and went public a year later through a reverse merger with Incubate This Inc.
Published by Globes [online], Israel business news - www.globes.co.il - on February 7, 2007