Ex-Intel executive forms Israeli venture capital firm
JERUSALEM (Reuters) - Intel Corp's former chief product officer has co-founded a venture capital company which aims to raise $300 million (£191.4 million) to invest in Israeli companies seeking listings.
Eucalyptus Growth Capital will invest in companies to help them grow their business, penetrate international markets and achieve initial public offerings, it said on Tuesday.
It also plans to seek board seats on the companies it invests in.
"There is a large funnel of Israeli companies with sales over $10 million that can grow to be billion dollar companies in sales and multi-billion dollars in value," said Dadi Perlmutter, co-founder and managing partner at Eucalyptus.
"But they need appropriate funding, long-term strategy and experienced guidance in order to achieve their full potential, rather than sell out at an early stage."
Perlmutter was chief product officer at Intel from 2009 to 2013. Co-founders Rami Hadar was former chief executive at Allot Communications and Eldad Tamir was chief executive of the Tamir Fishman investment house.
Eucalyptus has also formed an advisory board of industry leaders including former Intel Chief Executive Paul Otellini and former president of AMD Atiq Raza.
(Reporting by Steven Scheer)
