Later this spring, Siemens Venture Capital will hang its sign on a Tel Aviv door to reinvigorate its Israeli investment portfolio.
Once it’s open for business, Siemens VC will pursue strategic investments in early-stage and expansion-stage Israeli communications, IT, energy and automation and controls companies. It also plans to expand its portfolio of Israeli private equity funds, says Sabine Zindera, a Munich-based spokeswoman for Siemens.
“Siemens’ investment strategy will overlap with initiatives led by Siemens Corp.,” she says. “We would like to give startups access to Siemens’ sales network, marketing and technology.”
Siemens VC already has $40 million invested in Israeli venture funds. It is a limited partner in funds managed by Carmel Ventures, Star Ventures, Portview Partners and Millennium Materials Technologies Fund. The firm also has made $30 million worth of direct investments there, most recently participating in optical components maker BroadLight Inc.’s $13.5 million Series C round in March.
The firm will draw on its $500 million fund to fuel its Israeli investment drive.
Siemens VC currently maintains offices in Munich, Boston and San Jose, Calif. It will make a formal announcement detailing its plans for Israel within the next three months.