Green Adds a New Venture Capital Fund to its Investment Portfolio: $8 Million to be Invested in Samurai   The Marker   August 27, 2000       Green Venture Capital, whose controlling shareholder is Yitzhak Teshuva, is adding an additional venture capital fund to its varied investment portfolio. Green signed an agreement today calling for investment of $8 million for 28.57% in shares of the Samurai Ventures investment firm. The investment will take place via share allocation, and it reflects a post-money market value for Samurai of $28 million, or a pre-money value of $20 million. Samurai Web Ventures is an investment firm active in the Internet and electronic business fields. Samurai’s controlling shareholders are Moldawsky Hi-Tech, owned by Yossi and Boaz Moldawsky (48.26%), and S.S.D.E. Technologies, owned by company CEO Simi Efrati and his father, attorney David Efrati (48.26%). David Efrati also serves as the chairman of the Israeli high-tech industry’s umbrella organization. The company began its commercial activity during the last quarter of 1998. Its investment portfolio includes 12 Israeli, European and American Internet companies. The company invest in the very early stages of the companies (pre-seed), it heavily involves in the creation of their management, in creation of strategic partnerships and participation in capital-raising. Last March Samurai tried to raise $12 million on the TASE according to a post-money market value of $48 million ($36 million pre-money). Two-year check-up The investment agreement calls for an assessment of Samurai’s market value at the end of two and a half years. If the company’s market value proves to be lower than $32 million, Samurai will allocate additional shares to Green, raising Green’s holdings in Samurai to 50%. In addition, Yitzhak Kaul, chairman of Green’s board of directors, will be appointed as chairman of Samurai’s board of directors. Samurai has invested in, among others, the Tapuz portal, which was recently sold to Sunny at a market price of $8 million, and in Feather, which develops WAP applications and provides services to cellular phone users in the Israeli market. Another company in which Samurai has holdings is SimiGon, which develops PC-based systems for learning, training, knowledge management and knowledge transfer between pilots in the military and civil sectors. In addition, the Israel Securities Authority approved the prospectus submitted by Green for capital recruitment of $25 million on the TASE. Green shares climbed 4% today, and they currently reflect a market value of NIS 252 million for the company.       Back to news list