Wednesday, November 07, 2007

Israeli PE Fund EMB Looking to Invest in Mobile Content

Eilon Agam, former VP of content at Israeli telecom giant Pele-Phone, gathered a group of private investors to start a new PE fund, EMB Capital Ltd.

EMB is planning to be a private equity fund that focuses on internet and cellular content services. The fund will invest primarily in new content companies and ventures, as well as existing companies seeking to expand their activity in Israel and overseas.

Globes interviewed Agam, who said that the new fund will not operate as a venture capital fund but as an investment fund with a more flexible structure - To me it sounds strikingly similar to Afterdox, the angel investment group formed by Amdocs executives (covered on VC Cafe before).

EMB didn't raise any capital yet. It is focused on finding the right target investments and allocating the funds accordingly. Investment are capped at $1 million each, Agam predicts three or four investments a year.

EMB does not plan to exceed the $1M investment, which will pose a real challenge founding more matured companies. To answer Globes' question, Agam replied:

"When the companies need more capital we'll find an investor group that can invest larger sums in them."

EMB Capital has begun reviewing a number of potential investment projects, including Internet and cellular content ventures, as well as mobile virtual network operators and WiMAX technologies. "Israel is without doubt an ideal melting pot for the development of new content services. We'll take the companies overseas afterwards." Agam added.

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