The fund says that it plans to make at least two investments by the end of 2013.
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Plans to expand its Israeli portfolio, after investing in 15 Israeli companies in the past decade. Charles Street Securities managing partner Gerard Mizrahi visited Israel in late July to seek new investments. The fund said that it plans to make at least two investments by the end of 2013.
Charles Street Securities operates on a small scale, investing £1-2 million in each financing round. It mainly invests in early-stage companies, although it does not restrict itself to them, as other small funds sometimes do, and it tries to make later stage investments in its portfolio companies, if necessary. An example is Mapal Green Energy Ltd., in which Charles Street Securities participated in the last two financing rounds of $2-2.5 million each.
According to numbers provided by Charles Street Securities, it has invested £50 million in Israeli companies since entering the market in 2001, a middling amount for funds operating in the country. The company also operates in the UK, the US, Albania, Pakistan, and the Philippines.
Charles Street Securities has not had a major exit in recent years, but some portfolio companies have become liquid. Smart IPTV solutions developer Peer TV Ltd. (AIM: PTV) went public in late 201, raising a modest $2.5 million, and later merged with another portfolio company, Digitek.
Published by Globes [online], Israel business news – www.globes-online.com – on August 8, 2013