US-based media analysis company Nielsen has set up an Israel-focused corporate venturing fund to complement its commitment to a peer, Pereg Ventures, in the US.
Nielsen will own 51% of Nielsen Innovate in Israel in partnership with local investment firm Partam HighTech. Esther Barak-Landes, who has run Partam’s investment activities since 2006 and seen exits of Dapper to Yahoo for $50m, Playtika to Caesars Entertainment for $100m and StoreWize to IBM for $140m, has been chief executive of the Innovate fund since October, according to her LinkedIn profile.
The Israeli government is supporting the Innovate fund and offering $5 of investment for every $1 provided by the fund to a local entrepreneur.
Two Nielsen business development executives, Itzhak Fisher (pictured) and Bruce Haymes, will sit on Innovate’s board.
In January, Fisher said he was also in the process of helping Pereg raise its $25m.
In January, Fisher, who is chairman of Pereg Ventures as well as executive vice-president of global business development at Nielsen, said: “Nielsen is our [Pereg’s] anchor investor and we have got high net worths lined up. I am investing $2.5m myself, or 5% of the fund. We hope to have the first closing at the end of March at $25m.”