Teuza Planning to Raise $120M for New Projects

teuza.gifTeuza – A Fairchild Technology Venture Ltd., is a publicly-traded fund founded in 1992 and headqaurtered in Haifa which invests primarily in venture companies active in the fields of software semiconductors, communications, electronics and medical equipment. According to Globes it “plans to raise a $120 million follow-on fund having fully invested its current $36 million fund. The company raised this fund more than 16 years ago.” With this new fund Teuza plans to add biotechnology to its traditional investment sectors.

On the heels of Walden Ventures failed attempts to raise $125 for a fourth fund, Teuza hopes it won’t fall victim to a similar situation. Its hoping that its selling six months ago of its 40% stake in NESS Neuromuscular Electrical Stimulation Systems Ltd. to Bioness Inc. for $75 million will help finance the fund.

According to Teuza’s website:

“Total company market value currently stands at about 27M$ having a net equity worth of about 25M$. Since the beginning of January 2004 the price per share of Teuza shares increased by 70%. So far, Teuza Fund has invested in 15 companies, in the total amount of $35M. Usually the company prefers to have a large equity stake between 25%-49%, so that every successful exit becomes very significant. Teuza has successfully exited from nine companies (partial exit from four of them).”

Some recent exits:

  • In April 2000 Nova Measuring Instruments Ltd., in which the original investment was $900,000, issued its shares on the USA NASDAQ stock exchange (at a post money valuation of $285 million).
  • Teuza had a successful exit from WaveAccess when Lucent bought the company for $60 million. The profit from this realization was about NIS 43 million.
  • Teuza realized its balance investments in Oramir that was sold to for $27 milli
   
   
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