I am not afraid
投稿者： r911911911 投稿日時： 2003/07/14 23:44 投稿番号： [1655 / 2453]
Israel seen as 'quite dangerous' for investments
By Oded Hermoni, Haaretz Correspondent
http://www.haaretz.com/hasen/pages/ShArt.jhtml?itemNo=317587&contrassID=2&subContrassID=2&sbSubContrassID=0&listSrc=Y
"Our investments in Israeli companies are dependent on developments in the peace process," said Kamran Elahian, manager of Global Catalyst Partners (GCP) and one of the prominent entrepreneurs in Silicon Valley in the past decade.
"At the moment, it is quite dangerous to invest in Israel and our investors, which include Americans and Japanese, are worried. We will apparently not be making as many investments here as we did in the past unless we are confident that a war will not erupt in the region," he said during a recent visit to Israel.
Even though Israeli entrepreneurs have heard such statements from foreign investors many times over the past two years, sources in the venture capital industry put considerable weight in Elahian's words in light of his deep connections with Israel and his heavy involvement in several economic and social projects here.
There is another reason, however, for the seriousness with which Elahian's words were received. During his visit to Israel in June 2001, Elahian found it difficult to understand the investors who were taking their business elsewhere due to the renewal of the intifada.
"After the earthquake in San Francisco in 1989," recalled Elahian in an interview with Haaretz two years ago, "investors also asked me why companies should build headquarters in Silicon Valley, which is in the danger zone. Now they are asking me why they should invest in Israel. But I am not afraid," he insisted.
"We have to be realistic," he said, hastening to explain the change in his attitude in the past two years. "What I said before was based on the belief that the crisis in Israel would be short. But the crisis has dragged on and the foreign investors are not interested in waiting any longer. We approached 21 universities about investing in us, but they all refused. Our investments in Israel were one of the reasons for their refusal."
Israel had a place of honor in GCP, the first venture capital fund set up by Elahian in 1999, which managed $50 million of investments. Some 50 percent of the investments GCP made were in Israeli companies, three of which were particularly close to Elahian's heart: Actelis Networks, Cahoots (which changed its name to Informative and moved to the United States) and KangarooNet (which changed its name to Entopia). Elahian also served as a member of the advisory council of the Vertex Israeli VC fund.
"The investments of the first fund really focused on Israel, and we were satisfied with their results," said Elahian. "But the second fund, of $108 million from different investors than those in the first fund, has so far made a third of its investments and not one of them is in Israel."
Nevertheless, Elahian noted that he still values Israeli technology and is continuing to invest in American companies founded by Israelis. "There is a mingling of cultures in Silicon Valley," said Elahian. "The entrepreneurs are East Indian, Chinese, Iranian, Israeli or Russians and Americans. I have no doubt that this combination of cultures contributes to the success of the companies."
By Oded Hermoni, Haaretz Correspondent
http://www.haaretz.com/hasen/pages/ShArt.jhtml?itemNo=317587&contrassID=2&subContrassID=2&sbSubContrassID=0&listSrc=Y
"Our investments in Israeli companies are dependent on developments in the peace process," said Kamran Elahian, manager of Global Catalyst Partners (GCP) and one of the prominent entrepreneurs in Silicon Valley in the past decade.
"At the moment, it is quite dangerous to invest in Israel and our investors, which include Americans and Japanese, are worried. We will apparently not be making as many investments here as we did in the past unless we are confident that a war will not erupt in the region," he said during a recent visit to Israel.
Even though Israeli entrepreneurs have heard such statements from foreign investors many times over the past two years, sources in the venture capital industry put considerable weight in Elahian's words in light of his deep connections with Israel and his heavy involvement in several economic and social projects here.
There is another reason, however, for the seriousness with which Elahian's words were received. During his visit to Israel in June 2001, Elahian found it difficult to understand the investors who were taking their business elsewhere due to the renewal of the intifada.
"After the earthquake in San Francisco in 1989," recalled Elahian in an interview with Haaretz two years ago, "investors also asked me why companies should build headquarters in Silicon Valley, which is in the danger zone. Now they are asking me why they should invest in Israel. But I am not afraid," he insisted.
"We have to be realistic," he said, hastening to explain the change in his attitude in the past two years. "What I said before was based on the belief that the crisis in Israel would be short. But the crisis has dragged on and the foreign investors are not interested in waiting any longer. We approached 21 universities about investing in us, but they all refused. Our investments in Israel were one of the reasons for their refusal."
Israel had a place of honor in GCP, the first venture capital fund set up by Elahian in 1999, which managed $50 million of investments. Some 50 percent of the investments GCP made were in Israeli companies, three of which were particularly close to Elahian's heart: Actelis Networks, Cahoots (which changed its name to Informative and moved to the United States) and KangarooNet (which changed its name to Entopia). Elahian also served as a member of the advisory council of the Vertex Israeli VC fund.
"The investments of the first fund really focused on Israel, and we were satisfied with their results," said Elahian. "But the second fund, of $108 million from different investors than those in the first fund, has so far made a third of its investments and not one of them is in Israel."
Nevertheless, Elahian noted that he still values Israeli technology and is continuing to invest in American companies founded by Israelis. "There is a mingling of cultures in Silicon Valley," said Elahian. "The entrepreneurs are East Indian, Chinese, Iranian, Israeli or Russians and Americans. I have no doubt that this combination of cultures contributes to the success of the companies."
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