IVC YEARBOOK
Israel High-Tech, Venture Capital,
Startup and Private Equity Directory
GIZA
VENTURE
CAPITAL
Koby Simana
CEO
Joel Bailey
Executive Consultant
Ayala Chiel
Editor
Mike Hamuy, Gali Idan, Nir Keissary
Advertising
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Research
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Website: www.ivc-online.com
IVC 2013 YEARBOOK
Published and edited by IVC Research Center Ltd.
The information contained in this publication has been gathered from sources believed to be
reliable, but its accuracy and completeness are not guaranteed. All opinions expressed in articles
are those of the authors and not IVC. IVC shall not be responsible for any inaccuracy
unintentionally included in this publication. Readers should consult and rely solely on their own
advisers regarding all pertinent investment, legal and accounting issues.
The information, formats, themes and presentations contained in this publication may not be
reproduced, published or stored in any form, including electronically, without the express written
permission of IVC and contributing authors, where applicable.
Information has been gathered via a survey conducted by IVC. Data reflects, in most cases, the
status of high tech companies, management companies, venture capital funds and investment
companies as of February 2013. Omission of certain data reflects the failure of the investors to
report on requested items.
© Copyright 2013 by IVC Research Center Ltd. All rights reserved.
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4 IVC 2013 Yearbook
Published by
IVC Research Center
ISBN 978-965-7266-11-3
Table of Contents
Introduction........................................................................................................................................................................................................ 6
Letter from Israel Advanced Technology Industries – IATI.................................................................................... 8
Letter from Israel’s Chief Scientist.................................................................................................................................................. 9
Israel at a Glance....................................................................................................................................................................................... 10
About IVC....................................................................................................................................................................................................... 12
Research Overview.................................................................................................................................................................................. 13
Meeting the challenges facing Israel’s VC industry, Zeev Holtzman........................................... 14
The Israel Venture Capital and Private Equity Industry Review – 2012................................. 17
Viewpoints....................................................................................................................................................................................................... 63
Global PE industry turnaround: the LP point of view, H
‫ ‏‬elen Steers,
Francesco di Valmarana and Moshe (Mushak) Lifshitz.......................................................................... 64
The glass is half-full: Israel venture capital poised for stronger returns,
Abe Finkelstein, Yonah Monk........................................................................................................................................ 68
Tapping the potential of emerging markets, Michel Hivert................................................................. 71
Venture Capital Management Companies.......................................................................................................................... 75
Private Equity Management Companies........................................................................................................................... 125
Foreign Investors..................................................................................................................................................................................... 141
Service Providers..................................................................................................................................................................................... 159
Accounting Firms.................................................................................................................................................................... 160
Investment Banks.................................................................................................................................................................... 165
Law Firms...................................................................................................................................................................................... 167
Professional Services............................................................................................................................................................. 192
Investment Companies....................................................................................................................................................................... 201
Technological Incubators................................................................................................................................................................ 209
Angel Investors......................................................................................................................................................................................... 211
Technology Transfer Companies.............................................................................................................................................. 221
Government Supported Incentive Programs.................................................................................................................. 227
High-Tech Companies....................................................................................................................................................................... 243
Indexes............................................................................................................................................................................................................. 407
Organization................................................................................................................................................................................ 408
Key Executives........................................................................................................................................................................... 415
Advertisers..................................................................................................................................................................................... 429
6 IVC 2013 Yearbook
Introduction
IVC Research Center is pleased to publish the IVC 2013 Yearbook - The Israel High-Tech, Venture
Capital, Startup and Private Equity Directory. The IVC Yearbook is the prime source for comprehensive
information about Israeli startups and other advanced technology companies as well as Israel’s venture
capital and private equity industries.
The Yearbook, as always, has a wealth of information on Israel’s high-tech companies and its venture
and private equity industries that is not found anywhere else. From among the data cited in this edition,
I am particularly encouraged by those that indicate mounting interest in Israeli innovation by investors
worldwide.
The Israel Venture Capital Fund and High-Tech Company Analysis, produced by IVC Research Center
and KPMG Somekh Chaikin, reveals that Israeli high-tech companies raised more than $4 billion in the
past two years (2011-12) – the most raised over two consecutive years in the past decade. This compares
with just $2.4 billion raised in the two years through 2010. The robust activity is clearly a sign that despite
continued difficulties facing economies in the US and elsewhere, investors recognize the proven prowess
of Israel’s advanced technology industries and are translating their interest into action. Significantly,
investment is coming from both new and repeat investors.
Another indication of better times ahead is the growing foreign corporate involvement with Israeli
companies. There has been a resurgence in corporate venture capital on the prowl for strategic investments
and a widening of corporate programs that provide close cooperation in technical development and access
to overseas markets.
While Israeli venture capital funds have struggled in recent times, here too there are positive signs for the
future. In the two years through 2010, Israel’s VC funds failed to raise significant capital. Yet, $1.3 billion
was raised in the two years through 2012, and 2013 may well see an uptick from the most recent twoyear average. This recovery is particularly relevant for early stage companies that mostly rely on local, as
opposed to foreign, investment.
On the private equity side, we can look forward to an accelerating pace of investment. The Israeli Private
Equity Fund Analysis, sponsored by GKH-Gross, Kleinhendler, Halevy, Greenberg & Co., discusses FIMI’s
2012 closing of Israel’s largest-ever private equity fund and a pact between Blackstone and Markstone that
will inject hundreds of millions into Israeli investments.
In this year’s volume, Zeev Holtzman, chairman of IVC Research Center and founder and chairman of
Giza Venture Capital, discusses how the challenges facing Israel’s VC industry can best be addressed. Abe
Finkelstein and Yonah Monk of Vintage Investment Partners explain why Israel’s venture capital industry
is poised for stronger returns; investment professionals at Pantheon Ventures (UK) examine several positive
trends in the global private equity environment; and MATIMOP's Michel Hivert lauds the benefits of
international cooperation for Israeli companies.
I would like to remind the reader of the complementary publications and services provided by the IVC
Research Center. Foremost is the ever-expanding IVC Online Database (www.ivc-online.com), which is
the foundation for this volume. I recommend that readers in search of up-to-date, in-depth information on
Israel’s technology companies and venture capital industry be in contact with IVC to meet their information
and market intelligence needs.
Koby Simana, CEO
IVC Research Center
8 IVC 2013 Yearbook
Letter from Israel Advanced
Technology Industries – IATI
Israel’s high technology and life sciences industries continue to be the nation’s main economic growth
engines. They are facing many challenges, however, including increased competition, the global economic
slowdown and regulatory changes.
We at the IATI, Israel’s largest umbrella organization for the high-tech and life sciences industries, continue
to support innovation, entrepreneurship and policies that promote growth of these sectors. We organize
collaborative seminars, workshops and webinars and create business development opportunities for
startups and the entire eco-system. We maintain a variety of active sector-based committees, communicate
with government officials about the needs and challenges of our industries and foster links between industry
and academia.
Our experience has taught us the value of committed partners and shared goals. That’s the way we feel about
Israel Advanced Technology Industries as a whole. The combined talent, brainpower and entrepreneurial
energy of our members hold enormous potential for our industries as well as for Israel.
Together, we can manage the challenges most effectively. We will promote innovation, entrepreneurship,
investment, academia-industry collaborations, high-tech employment, technology education and regulations
that support the entire eco-system. IATI will continue to help Israeli companies become global leaders in
their respective areas and penetrate new and emerging markets.
We feel extremely fortunate to have committed partners spanning the gamut of advanced technologies and
are eager to keep working to help realize our goals and aspirations.
For more information please contact us at [email protected] or +972-73-713-6313
Sincerely yours,
Dr. Benny Zeevi
Yoav Chelouche
Karin Mayer Rubinstein
Co-Chairman, IATI
Co-Chairman, IATI CEO, IATI
Managing General Partner,
Managing Partner, DFJ Tel Aviv Venture Partners
Aviv Venture Capital
10 IVC 2013 Yearbook
Chief Scientist’s Letter to IVC 2013 Yearbook
Dear Investors and Partners,
Israel has one of the most dynamic, innovation-based economies in the world. Its unique combination
of academic infrastructure, highly educated workforce and pure entrepreneurial drive have contributed
to its competitive strengths in international markets, making Israeli products, services and knowledge
highly desirable commodities. The primary task of the Office of the Chief Scientist (OCS) in the Economy
Ministry is to translate these resources into global competitive advantages. This is performed through the
implementation of R&D funding mechanisms in all industrial sectors, as well as by promoting participation
in international R&D collaborations.
As venture funding becomes increasingly scarce in today’s financial climate, the variety of R&D support
tools offered by the OCS has become more valuable than ever to entrepreneurs, startups and established
companies, as well as to strategic investors. The OCS offers stable and comfortable financing to companies
meeting required criteria, payable only upon generation of revenue. The OCS does not participate in the
upside, even in cases of large profitable exits.
In response to a constantly evolving business environment, the OCS strives to create new funding programs
and improve on existing ones. The latest additions to the OCS ‘support toolbox’ include KIDMA – focused
on advancing Israel’s cyber defense industry – and a dedicated program to encourage R&D of space
technologies. These platforms will enhance Israel’s wealth of knowledge and development capabilities in
these important fields.
New mechanisms have also been put in place to assist seed companies. A structure has been developed
to provide approved seed companies a pre-commitment of R&D funding from the OCS in order to assist
in the search for potential investors by lowering the perceived risk. A dedicated program in the field
of gasoline alternatives has also been launched and enables approved seed investors to leverage their
investment through Government support.
The OCS is committed to advancing Israel’s global leadership in R&D and pursuing long term policies
designed to foster excellence. Join us in ensuring that the Israeli high-tech industry maintains its competitive
edge through applied innovation. Together we can succeed in further enhancing Israel’s well-deserved
reputation as a world-leading science and technology center.
Sincerely yours,
Avi Hasson
Chief Scientist
IVC 2013 Yearbook 11
Israel at a Glance
Year established: 1948
Area: 22,072 square kilometers
Population: 7.9 million consisting of 6.0 million Jews, 1.6 million Arabs and 0.3 million other minorities
Israel’s population grew by 1.0 percent in 2012.
Main Cities
Jerusalem – Israel’s capital and government center
Tel Aviv – largest population and business center
Haifa – main port city located in the north of the country
Be’er Sheva - largest urban center in the south of the country
Official Languages
Hebrew, Arabic
Economic Facts (2012)
Gross Domestic Product (GDP): $251 billion
GDP Per Capita: $31,457
Annual inflation rate: 1.6%
Unemployment rate (year-end): 6.9%
Principal Industries
Israel has developed global-class high technology capabilities and has invested substantial resources in
advanced technology. Israeli government support and promotion of national scientific and technological
R&D, along with international and local private investment, have sparked innovation and have helped to
markedly expand Israel’s high-tech industry. Traditional industries such as agriculture, textiles and plastics
have played a diminishing role in the economy in recent years.
International Trade
Israeli exports totaled $45.7 billion in 2012, an increase of 0.5 percent from the previous year. Hightech exports were up 5.5 percent year-to-year to $21 billion and accounted for 47.5 percent of total
manufacturing exports.
In 2012, exports to North America totaled $11.9 billion, with the US accounting for $10.8 billion. North
American imports were $9.2 billion of which $8.6 billion was from the US.
In 2012, exports to Europe reached $17.6 billion, with the European Union accounting for $14.3 billion.
Imports totaled $27.9 billion, with $22.4 billion coming from the European Union.
Exports to Asia were $9.5 billion in 2012, with China accounting for $2.4 billion. Imports from Asia
amounted to $13.2 billion, with $5.3 billion from China.
System of Government
Israel is a parliamentary democracy with legislative, executive and judicial branches. The head of the state
is the President, whose duties are mostly ceremonial and formal. The Knesset, Israel’s legislative authority,
is a 120-member parliament. The current Knesset, elected in January 2012, is the nineteenth parliament
since the establishment of the State of Israel. It is headed by the Prime Minister, the nation’s leading political
figure.
Source: Central Bureau of Statistics, Bank of Israel, the Israel Export & International Cooperation Institute,
Economy Ministry
12 IVC 2013 Yearbook
About IVC Research Center
The fast-changing nature of the technology and investment sectors both in Israel and abroad has necessitated
a reliable and user-friendly source of information about developments in the technology and investment
fields. IVC Research Center has been meeting this need for well over a decade. Formed in 1997, IVC is
Israel’s leading research center, specializing in analysis and monitoring of Israel’s high-tech industry.
IVC provides business leaders with insights on high-technology, including Startups, and Israel’s venture
capital and private equity industries. Its publications are used by major financial institutions and government
organizations in the United States, Europe, Asia and Israel. These include venture capital funds, investment
companies, entrepreneurs, academic institutions and government entities, such as the Central Bureau of
Statistics and the Bank of Israel.
IVC surveys Israel’s high-tech companies and venture capital sector on a quarterly basis. Its focus is on
capital raised by Israel-related technology companies, with a breakdown by industry, stage and round of
financing. IVC offers a variety of additional services for those seeking further information on Israel’s hightech industry:
IVC-Online Database
IVC’s website is the foremost provider of comprehensive information on Israel-related high-tech and
startup companies. It is a “one-stop” source that includes details of financing rounds, information on
investors and contact details for key persons within companies. The Database includes facts on over 8,500
Israeli high-tech companies, information on Israeli venture capital funds, news updates, relevant articles
and more. The Database is accessed through IVC’s website, www.ivc-online.com.
IVC Yearbook
IVC publishes the Israel High-Tech, Venture Capital, Startup & Private Equity Directory, the most wideranging book of its kind in Israel. The Yearbook is a compilation of data about investors operating in
Israel, as well as general information pertaining to Israel’s high-tech sectors and venture capital industry.
The Yearbook is mailed directly to leading executives in the local and foreign business arena: entrepreneurs,
limited partners, venture capital and private equity funds, high-tech companies, investment banks, service
providers, Israel’s commercial attachés and economic delegations.
Customized Reports
IVC provides the professional business community with information retrieval, processing and analysis
services according to specific client needs. This service, providing further insights on the Israeli technology
and Startup industry, as well as incomparable depth of information on the venture capital industry, is
frequently used by investors and service providers seeking easy access to information suited to their own
requirements.
Events / Production Services
IVC implements numerous new tools for accessing high-tech executives and investors listed in its fast
growing database. IVC has successfully used these tools to promote and produce technology-related
conferences and events both in Israel and abroad. Production services include venue arrangement and
catering, supply of all technical equipment, registration, telemarketing, event promotion, preparation of
printing materials and lots more.
14 IVC 2013 Yearbook
Research
Overview
Israel Venture Capital
Fund & High-Tech
Company Analysis 2012
Co-produced with
KPMG Somekh Chaikin Israel
Israel Private Equity Fund
Analysis 2012
Sponsored by
Gross, Kleinhendler, Hodak,
Halevi, Greenberg & Co.
The Israel Venture Capital and Private Equity
Industry Review – 2012
Summary of Venture Capital and Private Equity Survey Findings
Venture and non venture-backed investments in Israeli startups
• 575 Israeli high-tech companies raised $1.92 billion in 2012, a 10 percent decrease from 2011 levels, but
up 52 percent from 2010.
• The life sciences sector attracted the largest share of investments in 2012. One hundred and thirty-five
life science companies attracted $503 million or 26 percent of total capital raised.
• 157 seed companies attracted $146 million or 8 percent of capital raised – the largest share for the seed
stage in five years.
Venture-backed investments in Israeli startups
• 353 VC-backed deals in which at least one venture capital fund participated accounted for $1.37 billion
from a total of $1.92 billion raised in 2012.
• 88 Internet deals attracted $351 million or 26 percent of total capital raised in VC-backed deals.
• 57 seed deals attracted $91 million or 7 percent of capital invested in VC-backed deals.
Israeli VC fund investment activity
• Israeli venture capital fund investments amounted to $516 million in 2012, 19 percent below the $638
million invested in 2011, but 39 percent above the $371 million invested in 2010.
• Only one venture capital fund invested more than $10 million in Israeli high-tech companies.
• First investments by Israeli VC funds accounted for 38 percent of their total investments, compared to
28 percent in 2011 and 29 percent in 2010.
Capital invested in Israeli private equity deals
• In 2012, 46 Israeli private equity deals amounted to $2.6 billion, 10 percent below the $2.9 billion
invested in 63 deals in 2011.
• In 2012, the software sector accounted for the largest share – 52 percent – of total deal value, compared
to 29 percent for the sector in 2011.
• In 2012, 17 buyouts accounted for $2.01 billion or 78 percent of aggregate deal value. This compares to
19 buyout deals that attracted $2.02 billion or 70 percent in 2011.
Israeli private equity fund profile
• 24 active Israeli private equity management companies
• $7.8 billion in capital under management
• deal types: buyouts, mezzanine financings, distressed debt, turnaround/distressed equity, straight equity
Capital raised by Israeli VC funds and private equity funds
• In 2012, Israeli venture capital funds raised $617 million, which compares to $865 million raised in
2011 and no capital raised in 2010.
• In 2012, private equity funds raised $1.18 billion, almost double 2011’s $650 million, and 12 times
2010’s $98 million.
Table 1: Capital Raised1 by VC & PE Funds 2003 - 2012 ($m) by Vintage Year2
2003200420052006200720082009201020112012
Venture Capital370582
1,531835935
1,115230
0865617
Private Equity 47996
1,295563540484
1,335 98650
1,175
All Funds 1171,5782,8261,3981,4751,5991,565
981,5151,792
1. only capital allocated to Israeli companies
Source: IVC Research Center
2. first capital call or first investment
3. includes venture lending funds, secondary funds, funds of funds
Research Overview
IVC 2013 Yearbook 17
Part I: Israel Venture Capital Sector
Analysis – 2012
1 IVC-KPMG Venture Capital Survey – 2012
Produced by IVC Research Center & KPMG Somekh Chaikin Israel
This section reviews capital raising of Israeli high-tech companies from Israeli and foreign venture capital
funds as well as other investors. Moreover, it analyzes total investments in the Israeli venture capital sector,
including both VC-backed rounds – where at least one investor participating in the round is a VC fund –
and deals not backed by venture capital funds.
*For information about the IVC-KPMG survey methodology, please refer to the annex.
1.1 Venture and non venture-backed investments in Israeli startups
1.1.1 General
In 2012, 575 Israeli high-tech companies raised $1.92 billion from local and foreign investors, a 10 percent
decrease from $2.14 billion raised by 545 companies in 2011. The amount attracted by Israeli high-tech
in 2012 was up 52 percent from $1.26 billion attracted by 391 companies in 2010. The average company
financing round was $3.35 million, compared to $3.92 million in 2011 and $3.24 million in 2010.
Chart 1.1.1: Total Capital Raised by Israeli High-Tech Companies
$m
575
545
3500
3000
462
2500
2000
1500
428
550
483
500
447
450
402
391
378
371
400
1000
500
0
600
1,011
1,465
1,337
1,622
1,759
2,076
1,122
1,262
2,136
1,924
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
350
Number of Companies
4000
300
Number of companies
Capital raised by Israeli high-tech companies
Source: IVC Research Center
1.1.2 Venture and non venture-backed investment by sector
In 2012, the life sciences sector attracted the largest share of investments, with 26 percent of total capital
raised by high-tech companies. It was followed by Internet companies with 21 percent, the software sector
with 17 percent, and communications with 17 percent. Semiconductors attracted 8 percent, miscellaneous
sectors 6 percent and cleantech companies the remaining 5 percent.
One hundred and thirty-five life sciences companies attracted $503 million or 26 percent of total capital
raised. This amount was 23 percent above the $409 million or 19 percent raised by 120 companies in 2011.
Within the life sciences, the medical devices subsector attracted $308 million or 61 percent of the amount
raised by the entire sector, and 16 percent of total capital raised by all sectors. The average financing round
of life science companies in 2012 was $3.73 million.
One hundred and fifty-two Internet companies followed with $411 million (21 percent), a decrease of 14
percent from 2011, when 114 Internet companies led all investments with $480 million (22 percent). The
average financing round of Internet companies in 2012 was $2.70 million.
18 IVC 2013 Yearbook
Research Overview
Venture
Capital
Management
Companies
34 Ventures
Main address
Contact
Telephone
Email
Website
Partners/senior management
el Aviv, Israel
T
Ami Segal, Managing Partner
972-50-569-7965
[email protected]
www.34-ventures.co.il
Ami Segal, Managing Partner; Benny Yehezkel, Partner;
Itay Zandbank, Partner; Yishai Beeri, Partner; Shay Rubin
Managed Funds
34 Ventures Fund
Fund type
Year established
Fund contact
Main investors/shareholders
Minimum investment
Maximum investment
Investment stages
Industry preferences
VC fund
2012
Ami Segal, Managing Partner
Platonix, The Forum Group, private investors
$0.25 million
$1.25 million
Seed, R&D
IT & Enterprise Software
Portfolio Companies
Company nameSector / Sub sector
NewzzapCommunications / Broadcast
Accelmed Ltd.
Main address
Contact
Telephone / Fax
Email
Website
Partners/senior management
Hachoshlim St., 6th floor, POB 2014, Herzliya 46120 Israel
6
Amir Blatt, Investment Manager
972-9-958-8622 / 972-9-958-8594
[email protected]
www.accelmed.co.il
Moshe Arkin, Chairman; Uri Geiger, Managing Partner
Managed Funds
Accelmed
Fund type
Year established
Fund contact
Main investors/shareholders
Investment stages
Industry preferences
LS phase preferences
C and PE fund
V
2008
Amir Blatt, Investment Manager
Moshe Arkin, Uri Geiger, Migdal Insurance
Seed, R&D, Initial Revenue, Revenue Growth
Medical devices, life sciences
CE-approved, Clinical trials, FDA-approved
Portfolio Companies
Company nameSector / Sub sector
CardiapexLife Sciences / Medical Devices
CartiHealLife Sciences / Medical Devices
EndoSpanLife Sciences / Medical Devices
MCSLife Sciences / Medical Devices
NLT SpineLife Sciences / Medical Devices
Peer MedicalLife Sciences / Medical Devices
Pi-R-SquaredLife Sciences / Medical Devices
ValcareLife Sciences / Medical Devices
Eximo MedicalLife Sciences / Medical Devices
76 IVC 2013 Yearbook
Venture Capital Management Companies
Foreign
Investors
ABB Technology Ventures
Main address
ABB Asea Brown Boveri Ltd.
Affolternstrasse 44
CH-8050 Zurich, Switzerland
Telephone +41 43 317 71 11
Website
www.abb.com/ventures
Office locations
Zurich; Washington, DC; Palo Alto, California
Type of firm
Corporate venture capital
2009
Year established
Investment stages
Early and growth stage
Investment size
$1 million - $20 million
Sector focusRenewable energy, smart grid, energy storage, process
automation, power infrastructure/T&D, energy efficiency,
control systems, cyber security, smart manufacturing,
analytics, water technologies
Overview
Comprised of ABB veterans and seasoned venture capital professionals, ABB Technology Ventures
(ATV) invests in early stage, high-potential companies that have technologies or business models of
strategic interest to ABB and that can benefit from ABB’s deep technology development resources and
global market access.
ATV has made venture investments in numerous companies in areas such as energy infrastructure,
smart grid, cyber security, wind power, ocean power, solar power, EV charging, and data center power
supply and efficiency.
With access to over 6,000 Ph.Ds on ABB’s staff, ATV is comfortable taking technology risk.
Portfolio companies
Trilliant
Wireless mesh smart grid communications network
Industrial DefenderSecurity, visibility and asset management for critical
infrastructure
Power Assure
Data center energy management platform
Pentalum* Advanced LIDAR technology for remote wind sensing
Aquamarine Power
Nearshore wave energy technology
ECOtality
Commercial charging stations for electric vehicles
TaKaDu*
Water network monitoring and leakage detection
Scotrenewables
Tidal energy technology
*based in Israel
Key personnel
Girish Nadkarni Kurt Kaltenegger
President
Head of Technology [email protected]@ch.abb.com
Andy Tang
Grant Allen
Managing Director
Senior Vice President
[email protected]@us.abb.com
142 IVC 2013 Yearbook
Foreign Investors
Service
Providers
- Accounting Firms
- Investment Banks
- Law Firms
- Professional Services
◆
accounting firms ◆
BDO Ziv Haft
Address
mot Bituach House, Bldg. B, 46-48 Menachem Begin Road, Tel Aviv
A
66180 Israel
Contact Michal Yashar, Marketing Communications Manager
Telephone / Fax 972-3-638-0152 / 972-3-638-0157
Email [email protected]
Website www.bdo.co.il
Partners/managers Shlomo Ziv, President & Founder; Dan Margalit, Chairman & CEO;
Erez Soffer, Managing Partner; Shahar Ziv, Managing Partner
High-Tech Division Yaniv Cohen, Partner & Head of High-Tech Division; Lavy Giat, Senior
Partner; Lior Shahar, Partner; Avi Oz, Partner; David Wertheimer,
Partner; Asaf Ravkaie, Partner
Consulting Group Pini Shmueli Nisan, Partner; Yigal Toledano, Partner; Yaron Peled,
Partner; Sharon Witkowski Tabib, Partner; Keren Kibovich, Partner;
Tal Dolev, Partner; Shaul Ben-Shimol, Partner
Tax Eyal Rubin, Senior Tax Partner; Eli Alice, International Tax Partner
Description
BDO Ziv Haft is a dynamic, business-oriented accounting and consulting firm, ranking among the five
leading firms in Israel. Established in 1983, BDO Ziv Haft is part of the BDO International network,
one of the world’s five leading accounting and business consulting networks. The BDO network is
represented in more than 138 countries and deployed in over 1,204 offices with 54,933 employees
throughout the world. BDO Ziv Haft’s membership in the BDO network enables the firm’s clients to
receive personalized and reliable local services in a wide range of areas in business centers worldwide.
BDO Ziv Haft maintains six branches across Israel with more than 1,200 employees, as well as Israel
desks in India and China and an accounting office in Georgia. The firm is proud of its highly
professional and experienced high-tech group, which accompanies companies from seed to exit and
beyond. We offer specialized expertise in sectors as diverse as software, IT, hardware, Internet, telecom,
wireless, semiconductors, medical devices, pharmaceuticals, cleantech and more. We integrate business
advisory, accounting and tax services into a single unit.
The services we provide include:
• Auditing and accounting. Auditing (PCAOB, ICFR, US/ISRAELI GAAS, ISA, SAS 70, etc.) &
Accounting (SEC Reporting, US GAAP, IFRS, ISEC Reporting & ISRAELI GAAP)
• Raising private and public capital. Our strong global network comprised of investment banks,
venture capital firms and private investors uniquely positions us to create connections between
investors and high-tech companies. We have extensive experience in taking high-tech firms public in
Israel, the US, the UK and Asia.
• Local and international tax consultancy. We provide diversified tax services, including consulting,
obtaining pre-rulings, international taxation (in conjunction with the international BDO network)
and employee stock option plans.
• M&A activity. Includes structuring and restructuring deals
• Valuations and due diligence.
• Planning and implementation of financial information technologies. Systems analysis & design, EDP
auditing, ERP, CRM, balanced scorecard, performance management, security services and business
intelligence
• Government funds. Verification of eligibility and preparation and submission of reports to assist
clients seeking government funding for business ventures
160 IVC 2013 Yearbook
Service Providers
High-Tech
Companies
Aspen Performance Technologies
Industry
Software – Internet/Digital Brain Health, Fitness and Wellness
Year established
2013
Contact
Jose Kullok
Mobile
972 54-209-7723
Telephone
972-77-693-5444
Fax972-77-693-5410
Email
[email protected]
Website
www.aspenperformancetechnologies.com
Core Business
Aspen Performance Technologies (APT) aspires to play an important role in addressing health and
wellness issues for the normally aging population and for those individuals suffering from mild cognitive
impairment (MCI) or Alzheimer’s disease. APT’s suite of novel online computer-based applications
seeks to fight memory loss, cognitive decline and moderate neural degeneration. APT believes that
its innovative platform will result in users attaining an optimal age-appropriate state of brain fitness,
health and well-being.
APT aims to bring about a paradigm shift in the way people think, make use of language and cognitively
interact with each other. Towards that end, APT is developing the next frontier of brain fitness, health
and wellness online training to be deployed via a wide mobile platform, so users can train anywhere
and at anytime.
Technology
The company’s core brain neuro-performance technology will offer a broad modular platform of
proprietary software & biometric applications to its customers. These core applications include:
1.A unique brain fitness training program based on basic reasoning and spatial attention skills centered
on novel exercise of one’s native alphabet;
2.A state-of-the-art brain health biometric feedback technology that uses heart rate variability (HRV) to
non-cognitively induce a user into a body-mind self-regulation calmness state (physically rested, and
cognitively more relaxed and alert);
3.A first-of-its-kind brain social wellness simulation program based on innovative applications
simulating facial animation and motor learning. The brain social wellness facial simulation program
promotes emotional self-regulation (better understanding of social aptitudes), while the motor
learning simulation program aims to bind together in memory semantic and motor knowledge about
people and object names.
Management
Aspen Performance Technologies is led by seasoned managers and co-founders, Michael Fox (CEO) and
Jose Roberto Kullok (CSO), who have many years of managerial experience in all entrepreneurial and
operational facets of startup companies.
244 IVC 2013 Yearbook
High-Tech Companies
Company
Sector
VC-backed
Public
Incubated
Foreign R&D
Sales
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Comm
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16Pics
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1st Mile
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2001 Computers & System Services
SW
24HoursOnly
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24me
Comm
2BrainsMedia
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2econd Opinion
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2M
Cln
2P2D Solutions
LS
2Tangos
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2to3D
SW
2Wed Wedding Websites
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365scores
I
3ality
Misc
3bots
Comm
3D MTP
SW
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For more information on Israeli high-tech companies and foreign R&D centers go to
www.ivc-online.com
3dodo
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3DPrintingModel
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3DRealistate
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3DSellers
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3Dsoles
Comm
3Dtv
Misc
3Giga
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3GSolar
Cln
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3GVision
Comm
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SW
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3M Attenti
SW
3pix
Comm
3QBD
LS
3rd Dimensions Platforms
I
3-Rings
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40 Nuggets
Comm
40Weeks
Comm
42Tags
SW
High-Tech Companies
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IVC 2013 Yearbook 259