TEL AVIV (Reuters) - Intel’s venture capital fund said on Tuesday it invested $120 million in Israel in 2018 and plans to continue to invest in the country in the coming years.
Intel Capital also announced an investment in Israeli startup ProteanTecs, alongside other investors including Avigdor Willenz, ITI Venture Capital Partners, Mitsubishi UFJ Capital, Redline Capital Management, Viola Ventures and WRVI Capital. ProteanTecs, which developed technology to help predict failures in electronics, raised $35 million in this round, in addition to the nearly $15 million previously raised.
Intel Capital said it is expanding its team in Israel with Roi Bar-Kat and Noam Kaiser joining Yair Shoham as partners and investment directors.
“The fund partners plan to leverage the team’s experience in early stage investments and expand the investments in younger companies,” Intel Capital said. In 2018, it invested in 14 companies and plans to keep up its investment pace of the past few years.
To date, Intel Capital has invested $435 million in 90 Israeli companies, of which 30 have matured into exits.
Reporting by Tova Cohen; Editing by Steven Scheer