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Shenzhen Capital Group - China and PNV NC Israel formed a New Joint Venture VC Fund - CIVC - China Israel Venture Capital
SHENZHEN, China and TEL AVIV, Israel, April 20 /PRNewswire/ -- - US$ 80 Million Fund
- Off-Shore (Cayman Island Limited Partnership) & On-Shore (Shenzhen, China)
- Focus on Chinese Later-Stage & Pre-IPO High-Tech JV Companies, Leveraging on Israeli Advanced Technologies
- Fund Life: 10 Years
The largest and most prominent Chinese Venture Capital Fund - Shenzhen Capital Group, has signed a Joint Venture Agreement to inaugurate a new VC Fund with the Israeli based PNV NC VC Fund (New Management Company). The New Fund is: CIVC - China Israel Venture Capital at a fund size of US$ 80 Million.
The China-based venture fund focuses on Chinese Later-Stage & Pre-IPO Technology Companies with a focus on leveraging Israeli technologies. The Joint Venture allows the Fund to introduce cutting-edge Israeli technologies to the huge Chinese market, thus leveraging the invested companies with the benefits of China's low-cost manufacturing and marketing channels.
The Fund's General Partners (GP): Shenzhen Capital Group Co., Ltd. ("SCGC") and PNV-New Management Company Ltd. ("PNV NC"), have committed to invest over 10% of the Fund's total commitment. At the signing of the Agreement between the two Parties, the GP has already raised US$ 10 Million and the Fund has scheduled the initial closing at $20M, in the second quarter of 2005.
CIVC provides investors with a unique investment opportunity by combining Western-oriented and experienced management team with significant Far-East expertise and presence; Exposure to the rapidly growing Chinese market with the leading Chinese private equity group.
The Fund intends to focus on Next Generation Communication Technologies, Semiconductors, IT, Enterprise Software, Life Sciences, New Materials. The General Partner believes that these areas will continue to be in high demand and high growth areas in China as well as in the West and will create significant opportunities for new companies.
About Shenzhen Capital Group
The Largest and Most prominent Venture Capital firm in China. Fund size over US$ 200 Million. Voted No. 1 among the "Top 50 Venture Capital Companies from 2001 to 2003" (by Zero2IPO* Statistics).
About PNV NC
PNV was the Pioneer of Seed & Early stage Investment VC Fund in Israel Global Investment Network. PNV (Platinum and Neurone Ventures) has its headquarters in Israel, with offices in Singapore, Palo Alto, California (USA), and Korea (the California and Korean offices relate to an affiliated fund).
Contact:
Yehuda Swizer
Koteret Public Relations
Tel: +972-3-561-1424
Cell: +972-54-4483-8233
e mail: yehuda_s@koteret.com
PNV NC
CONTACT: Yehuda Swizer, Koteret Public Relations, Tel: +972-3-561-1424,Cell: +972-54-4483-8233, e mail: yehuda_s@koteret.com
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