The Infinity venture capital fund is taking over the management of most of

Clal Industries and Investments' (TASE:

CII

) portfolio, or about 25 hi-tech companies, TheMarker has learned.

Clal's management prefers to focus on managing and accompanying a few core companies, leaving the handling of the rest mainly startups to Infinity, in which Clal is heavily invested.

The biggest of Clal's assets that Infinity will be managing is

Saifun Technologies

, a promising semiconductors startupbn that makes nonvolatile memory technology. A few months ago Saifun raised about $25 million from

Fujitsu

and AMD at a company value of about $550 million.

Infinity will be hiring two new investment managers to handle the Clal portfolio, TheMarker has learned.

The Infinity fund, established in 1998 as a continuation of the Nitzanim venture fund, today manages about $150 million worth of assets. Aside from Clal, its investors include General Electric, BNP,and the AVX-Kyocera group of Japan.

The fund, which has invested about $70 million in startups, refused to comment.