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Green Acquires Samurai Shares |
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Green Venture Capital, of the Yitzhak Teshuva group, is increasing its presence in the local venture capital industry. Green reported today that it will acquire 28.57% of the capital shares of Samurai Web Ventures, a privately traded venture capital fund controlled by Simi Efrati and Yossi Moldawsky, for $8 million. This price reflects market value of approximately $28 million for Samurai.
Samurai sought to offer its shares on the TASE last April and to raise $12 million (based on a post-investment market value of $50 million). Due to Nasdaq’s steep decline, the issue, like many other Internet share issues, was cancelled.
Samurai is an investment firm whose operating method includes start-up entrepreneurship, formation of management teams, creation of strategic partnerships and participation in capital raising. Samurai’s main initiatives have been in the Internet technology and electronic business fields.
Samurai, which started operating last year, presented a prospectus of nine holdings, including the Tapuz portal, which was recently sold to Sunny Electronics; the electronic business to business (B2B) company Infomedia; and Feather, which provides cellular Internet services.
Efrati and Moldawsky are young men in their late 20s, residents of Savyon. Efrati’s father, attorney David Efrati (of Efrati, Galili & Co.), serves as chairman of the Israeli high-tech industry’s umbrella organization. Green currently holds, among others, the Inventech, Mofet, Aura, ProSeed, Sadot R&D and Marathon venture capital funds. The company is headed by Yitzhak Inbar.
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