June, 2010President Peres visits KoreaJune, 2010
December, 2012CBG Israel CEO Doron Debbie Stressed Importance of Open InnovationDecember, 2012
June, 2011Signing Ceremony of Korea-Israel JV-MAC fundJune, 2011
(Yonhap News) VC firms in Korea and Israel established JV fund to help active collaboration of Small & Medium Sized Enterprises(SMEs) of both countries.
SMBA held signing ceremony of Korea-Israel JV fund at the JW Marriott Hotel on the 29th of June and Dong-Sun Kim, Administrator of SMBA, Jong-Gap Lee, Chairman of Korean Venture Capital Association and Tubia(?), Israeli Ambassador, etc joined the ceremony.
The size of the fund is approximately won 35bil. which will be used to help an active technology exchange of SMEs of both countries in the field of IT and cleantech, etc.
M-Venture Investment, Inc. of Korea and CBG Partners, Inc. of Israel will manage the fund jointly.
SMBA invested won14.0 bil. through KVIC and decided to cooperative with Israeli government in order to help a smooth operation of the fund.
Dong-Sun Kim, Administrator of SMBA said, “This JV Fund is the first case of a true partnership between domestic VC and overseas VC. He expects the fund will help an active technology exchange of venture companies of both countries and will give a significant contribution to the improvement of competitiveness of domestic companies.”
SMBA announced a plan to establish won760.0bil.sized funds to help SMEs to enter foreign countries starting from the formation of this JV fund within this year.
In October, it plans to establish won 530.0 bil. sized fund to help domestic companies to enter Asian market in cooperation with National Pension Service.
In addition, SMBA said, “it is considering to establish a fund(won100.0bil.) to help exports of culture & contents related companies and a fund for the cooperation with Investment Organization of the United Arab Emirates.”
March, 2012Launching the expended of MAC FundMarch, 2012
Minister of Science and Technology
Ambassador of Korea Mr. Kim – Sue
Director General Small and Medium Mr. Su
Government investment fund CEO of Korea Dr. Jung
CEO M.Venture – Mr. Hong
Mr. Doron Debbie, Mr. Danny Naveh and Mr. Amichai Orkabi
Founders and partners in the new fund
September, 2012MAC Fund: 1st InvestmentSeptember, 2012
“The first investee of the Mac Fund is Eyesight, which is an Israel start-up providing motion detection platform. The technology of Eyesight is applied onto the smartphones of Pantech. The investment of Mac Fund will be more, ever since the technology of Israel meets manufacture capability of Korea for the first time.”
Doron Debbie of CBG (Consensus Business Group) said the Mac Fund, will play important role for the mutual cooperation and market penetration of start-ups of Korea and Israel. The fund was made in 2010 with Shimon Peres (President of Israel) Korea visit.
CBG is the Israel partner of Mac Fund; it is a medium-size venture capital firm with over US$50M under management. Since the establishment in 1980, the company has been achieving outstanding results from IT and cleanTech. The company invests directly for the companies pre-IPO, while invests indirectly through incubator for the start-ups.
Mac Fund was the first attempt of venture cooperation for both countries. It is considered that overall, the cooperation stays above expectation.
Mr. Debbie emphasized ‘Born to Global’ for Korean start-ups, and stated “Israel start-ups tend to consider global presence, whereas Korean start-ups concentrate domestic market”.
He also said that CBG will act as a strategic partner which helps Korean ventures enter Israel market.