Israel Infinity Fund today announced that General Electric Equity has invested $5 million in the Infinity sequel fund FBR Infinity II. Friedman Billings Ramsey is also a major Infinity investor.
Another $5 million was invested by one of the biggest industrial companies in the world, Infinity said.
The investments were made in the framework of an initial closing of $60 million for a sequel fund, recently announced by Infinity. No final target has been set for the fund, and Infinity is to go on raising capital till the end of 2002 despite adverse market conditions.
Infinity today manages $150 million from several leading investors, such as FBR, General Electric (NYSE:GE) , Kyocera, AVX Corporation, the French bank Banque Nationale de Paris, and Clal Industries & Investments.
Infinity has to date invested some $70 million in startups, including DealTime, Aprion Digital, ShellCase, Galil Medical, Proneuron Biotechnologies, and Callixa. Infinity is the sequel to the Nitzanim Venture Fund.