GIBF (China-Israel) Fund Raised 300 million Dollars on the Second Fund
The fund, co-owned by Dr. Shuki Gleitman, Prof. Shlomo Noy and Avner Lushi, also announced closing of several new investment transactions Guangzhou Sino-Israel Bio-industry Investment Fund (GIBF), whose Managing Partners are Dr. Shuki Gleitman (former Chief Scientist of the State of Israel and one of the pioneers who laid the foundations of the Israeli high-tech industry), Prof. Shlomo Noy (former Acting CEO of Sheba Medical Center and the manager of the hospital’s R&D array and its tech transfer company), Avner Lushi (one of the top Israeli medical venture capitalists) and Carl Geng (formerly a senior official in the Chinese central government in the field of national R&D programs and international collaborations), announced today the first closing of its second fund in the amount of $300 million (2 billion yuan). GIBF is a Chinese medical investment fund established in 2016 in partnership with the Government of Guangzhou, the third most important city in China and the capital of Southern China. Unprecedentedly, although it is a Chinese fund for all intents and purposes and with a government affiliation, the fund is managed and controlled by its Israeli partners. Respectively, it is the only Chinese fund under foreign management licensed to make private equity investments in China by the Chinese Securities and Exchange Commission (AMAC Division). The fund has a unique investment model in which it establishes Chinese joint ventures (JVs) in partnership with foreign companies. Unlike in China, where local investors seek rights to the Chinese market and control over the Chinese JVs, the Chinese subsidiaries established in cooperation with GIBF are controlled by their foreign parent companies, with GIBF investing considerable sums in the JVs ($3-8 million), holding minority equity positions and assisting in their operations.The fund, co-owned by Dr. Shuki Gleitman, Prof. Shlomo Noy and Avner Lushi, also announced closing of several new investment transactions