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Teshuva Returns to his Roots: Samurai To Invest in Lucrative Real Estate Ventures Abroad |
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After Green Venture Capital’s failed attempt to become Israel’s largest technology holding company through aggressively amassing as many high-tech companies as possible under its roof, businessman Yitzhak Teshuva, the company’s controlling shareholder, is once again focusing on what he knows best – real estate. Green, which has a controlling interest in several publicly traded venture capital funds and controls over 120 high-tech companies, has announced that it is loaning $650,000 to Samurai Ventures, a venture capital fund in which it has a 28% interest, for the purpose of investing in lucrative real estate projects abroad.
Samurai is thus expanding its activity beyond the field of high-tech investment – the purpose for which it was founded. The decision is apparently based on the recognition that Israel’s high-tech sector is far from being on the road to recovery.
As part of the loan agreement, the conditions of Green’s investment in the company were changed as well. Under the new conditions, if Samurai’s value should fall below $27 million, Green will be entitled to purchase additional shares in the company, up to a 50% holding. Green shares are currently being traded according to a market value of only $8 million, 99% below the company’s peak value.
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