Billionaire entertainment mogul Haim Saban has unveiled a $100 million venture capital fund for Israeli startups.
The Saban Ventures fund will invest in companies in the mobile, social networks, ecommerce and digital media sectors, the Israeli business daily Globes reported. The fund also will be open to investing in fields such as cloud computing and fintech, according to Globes.
“We are open to investment in Israeli companies or companies linked to Israel or Israelis,” fund manager Barak Pridor, former CEO of the Tel Aviv-based Thomson Reuters tech subsidiary ClearForest, told The Marker, the business publication of the Israeli daily Haaretz. “Saban is a winning combination — a partner with deep pockets, patience and the ability to open doors and access markets.”
Saban , 71, the founder and owner of the successful Power Rangers franchise, owns Israeli mobile operator Partner Communications Ltd., which this month began its rebranding campaign after ending its relationship with the French telecommunications giant Orange following a BDS controversy.
Saban, who lives in the United States and also holds Israeli citizenship, is one of Israel’s richest billionaires with a net worth of $3.6 billion as of Tuesday, according to Forbes.
This story "Haim Saban Will Pour $100M Into Israeli Start-Ups" was written by JTA.