Israel

Haim Saban Announces $100 Million Venture Capital Fund to Invest in Israeli Startups

Israeli-American billionaire Haim Saban has announced a new fund—Saban Ventures—to invest $100 million in Israeli startups.

According to a Globes report, the fund will invest primarily in mobile, social networks, ecommerce and digital media startups, with a side interest in cloud computing and financial technology.

Saban, known for the Power Rangers franchise, is said to be worth $3.5 billion. Reports cite Barak Pridor, former CEO of the Tel Aviv-based Thomson Reuters tech subsidiary ClearForest, as the new manager of the fund.

(via Israel21c)

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