China Everbright, Catalyst raise $100m for Israel Fund
China Everbright and Israel-based Catalyst Equity Management have reached a first close of $100 million on a private equity fund that will invest in Israeli companies.
The Catalyst CEL Fund, a joint vehicle announced last October, is looking to raise $200 million, with a hard cap of $300 million. China Everbright has provided $75 million as seed capital.
"We just had our first closing of $100 million but we have strong interest from Chinese, Israeli and international investors to join the fund," Edouard Cukierman, managing partner of the Catalyst CEL Fund, told Reuters. "We are confident we will be able to reach our goal by the end of this year."
The fund will focus on mid-to-late stage companies with proven innovation and global presence, such as in North America and Europe, and a desire to expand in China. Sectors of interest include agro-tech, energy, industrials and manufacturing, healthcare, water, media, and telecom.
The fund will make investments between $20-25 million in companies that have tens of millions of dollars in sales. The first investment is expected to be made in the coming weeks.
With over $200 million in assets, Catalyst provides capital to support the long-term growth and international expansion of Israeli middle-market companies.
China Everbright manages a total of ten private equity, venture capital and sector focus funds - covering infrastructure, real estate, new energy and medical and healthcare - in both renminbi and US dollar.
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