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Temasek invests S$6.25 million in Israel

Ramot + Temasek

 

 

 

Temasek, a US$200 (S$250) billion Singaporean sovereign fund, is dipping its toe into the world of Israeli high-tech

Temasek, an investment company owned by the Singaporean government worth nearly $200 (S$250) billion, is dipping its toe into the Israeli start-up world with a US$5 (S$6.25) million investment in a fund operated by Tel Aviv University’s Ramot technology transfer company.

The investment will go into Ramot’s Momentum Fund, which invests in companies in advanced technologies in areas like cell therapy, sensor technology, nanotechnology, cleantech, and life sciences. Temasek and Indian car manufacturer Tata are the two largest investors in the US$23.5 (S$30) million fund, which takes promising research conducted at Tel Aviv University and converts it into commercial products or technology, earning back investments from the sale or licensing of intellectual property.

The move represents the first official investment by Singapore in Israel, but Temasek is not the first Singaporean entity to discover Israel. Last year, Singtel, the Singapore-based Asian telecommunications giant, opened a research and development center in Israel – its only such center outside Singapore and China – the result of the company’s acquisition of digital marketing company Amobee.

With the Temasek investment, “official” Singapore is now represented in Israel. Commenting on the development, TAU President Prof. Joseph Klafter said “we are extremely proud that Temasek, a world leading investment company, following Tata, has selected TAU as a partner. Our innovative initiative and inter-disciplinary research set an example for others to follow. With support from both Tata and Temasek,” he said, “TAU aims to develop groundbreaking advanced technologies that have the potential to positively impact communities across the world in many technological areas.”

Read the full article at www.timesofisrael.com