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Stephen Bronfman Sets Up Israel Investment Fund

Stephen Bronfman

The partnership between Bronfman’s Claridge and Canadian company la Caisse will make investments of tens of millions of dollars in high-tech companies.

Stephen Bronfman, son of Canadian/US Jewish billionaire Charles Bronfman, is planning to invest in Israeli high-tech companies. The investments will be carried out through Claridge CDPQ Israel, a new investment firm based in Tel Aviv, product of a partnership between Claridge, the Canadian investment firm founded by Bronfman in 1987, and la Caisse, another Canadian company.

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The amount to be invested by the two firms has not been publicized, however, it is estimated that that a number of investments are planned, each totaling tens of millions of dollars. Israel operations will be led by Oded Tal, who served in the past as CIO at Claridge.

Bronfman spoke of his desire to invest in Israel in an interview with “Globes” in 2011. At the time, he said, “We are looking for deals in Israel where we have been operating for such a long time, and where we have strong ties.” Today, Bronfman said, “We are confident that the partnership between Claridge and la Caisse, combined with Mr. Tal’s expertise, will add to the significant business experience and sustained community investment of the Bronfman family in Israel. Together, these factors are crucial ingredients in a winning recipe that will benefit parties in both Quebec and Israel.”

Claridge is an investment firm headquartered in Montreal, Quebec. Today, the firm is actively involved in managing a diverse portfolio of third-party investments, as well as direct equity participations in the food, technology, energy, entertainment and real estate industries. The fund has, in the past, invested in Israel’s Koor Industries, Shai Agassi’s Better Place, and in venture capital firm Viola Group. The company has also invested in a Broadway production of Spiderman.

Published by Globes [online], Israel business news – www.globes-online.com

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