Posts Tagged “Cleatech”

European Fund Injects $20M Into Israeli Cleantech

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European Fund Injects $20M Into Israeli Cleantech

This edited story originally appeared in NoCamels.com.

Cleantech defined: Cleantech is an investment philosophy used by investors who wish to profit from environmentally friendly companies. The term stems from “clean technologies.” Cleantech firms seek to increase performance, productivity and efficiency by minimizing negative effects on the environment.

The European Investment Fund (EIF), a part of the EU Investment Bank cluster that delegates finances to little and medium-sized enterprises (SMEs) through non-public banks and funds, declared on weekday that it might create its 1st equity investment, value $20 million, in Israeli cleantech fund Israel Cleantech Ventures (ICV) underneath the EU Commission’s InnovFin program.

Israel Cleantech Ventures could be a specialized working capital fund primarily based in Ra’anana that focuses on providing growth capital to Israel cleantech initiatives, together with within the energy, water, environmental, and industrial technology sectors.


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While the EU Investment Fund has partnered with Israel within the past in a very range of how together with a signed agreement with Israel’s Bank Leumi in 2016 to extend disposal that the Israeli bank will give $100 million funding to innovative firms in

Israel, this is often the first-ever equity investment of the EIF in AN Israeli working capital fund. European Union Ambassador to Israel Emanuele Giaufret, Israel Cleantech Ventures Partner Meir Ukeles, European Investment Fund Chief government Pier Luigi Gilbert, Israel Innovation Authority chief operating officer Aharon Aharon, and European Commision Deputy Head of Unit sage Samson cause before the official sign language. Courtesy.

The EIF is creating the investment as a restricted partner in ICV III, the firm’s third fund, presently raising $75 million. This investment could be a direct advantage of Israel’s participation in Horizon 2020, the EU Framework Program for analysis and Innovation from 2014-2020.

ICV III can invest in Israeli seed and early-stage firms in developing the package, hardware, and infrastructure innovation that enhance resource potency and property.

Delegations from each the EIF and ICV, also as members of the EU Commission, the Israel Innovation Authority, and ISERD, the Israel-Europe R&I board, Israel’s national contact purpose with the EU promoting joint Israeli-EU R&D ventures underneath an EU R&D framework, were readily available for the official announcement of the deal.

“ICV has been recognized as a key player that sets it excluding alternative firms,” Pier Luigi Gilibert, Chief government official of the EIF same at the event. Later, in a very statement, “Israel offers a powerful early-stage market chance and ICV III is a sexy 1st investment because of its property focus. EIF’s participation in ICV III is a chance to support innovation through a fund with a longtime presence in Israel and distinctive access to high-quality deal flow.”

Ramona Samson, deputy head of unit at the EU Commission, the organization answerable for proposing legislation and upholding treaties for the EU, referred to as the investment as a “historic deal” in risk funding.

“The handle ICV is proof of Israel’s drive to be leaders of innovation,” she said.

More than simply cleantech

ICV has been creating early-stage and seed investments in Israel since 2006, and with the support of Horizon 2020. ICV’s third fund can aim to continue backing rising leaders with $75 million of capital. To date, ICV has endowed over $150 million in over twenty-five firms from its 1st 2 funds.

Speaking with NoCamels when the sign language ceremony, ICV partner and co-founder Meir Ukeles same this investment and partnership was a minimum of a year within the creating when ICV was introduced to EIF because the European organization was wanting a lot of closely at Israeli analysis and innovation.

“The temporal order puzzled out very well as a result of it absolutely was right once we were setting out to raise our third fund,” he says. “They need to grasp that the strategy of what we’re doing is extremely abundant aligned with what they’re curious about.”

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