Steinmetz’s STI Ventures suspends Israeli activities
IVC Online: STI Ventures has invested in over 40 companies, 20 of which have closed down.
Ofer Levi 3 Jan 06 09:35
Ever since diamond merchant Benny Steimetz founded technology investment company STI Ventures in 1997, the company has known no rest. It made a long series of investments in Israel, had a few exits, but it also made many investments in companies that closed down.
Sources inform ''Globes'' that in contrast to the common trend in which foreign venture capital funds are expanding their Israeli activities through local branches, Steinmetz recently closed STI’s office in Israel. STI will continue to operate from its office in Amsterdam.
No response from STI was available by web-posting.
IVC Online reports that STI Ventures has invested in over 40 companies, 20 of which have closed down. Investments in public companies include Commtouch Software Ltd. (Nasdaq: CTCH), Compugen Ltd. (Nasdaq: CGEN; TASE: CGEN), Odimo Inc. (Nasdaq:ODMO), and Tucows (OTCBB:TCOW). Other active portfolio companies include PortAuthority Technologies, Flash Networks, and Interwise
Published by Globes [online], Israel business news - www.globes.co.il - on January 2, 2006
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