(JNS.org) A fund backed by the government of Singapore and holding $200 million is planning to invest directly in Israeli technology start-up companies, at a time when Israeli companies have become increasingly drawn to the Asian market.
Alex Lin, the head of Infocomm Investments, which is part of Infocomm Development Authority of Singapore, said that his company is currently negotiating with several Israeli companies. The fund's investments in various Israeli companies will range from $1 million to $5 million.
Although Infocomm has never directly invested in an Israeli company before, it has been involved with the venture capital fund Vertex, which itself was an investor in the Israeli navigation app Waze. In 2013, Waze was acquired by Google for $1 billion.
"Our interest is to build up financial technology in Asia and capitalize on the financial boom in Singapore and Shanghai," Lin told Reuters.