Bank HaPoalim And CITIC Establish VC Fund

February 2, 2015 | The investment arm of Bank HaPoalim will establish a venture capital presence in China, according to a “Calcalist” report. Together with the Chinese investment company CITIC, the fund will total $150 million in private funds for investments in high-tech companies and Israeli industry. According to assessments made by Calcalist, the fund is currently raising money, with Bank HaPoalim committing up to $20 million and CITIC $10 million of the fund’s total. It is expected that Asia Direct will join the effort. The fund will be headquartered in China, with offices in Israel, and will be headed by Amir Galor.