China-based computer maker Lenovo has invested in Vertex Venture Capital, as part of its strategy to invest more in Israel.
George He, Lenovo senior vice president and chief technology officer, said: "We have a very strong position in Israel that mirrors our worldwide results. Lenovo is the number one provider of commercial laptop PCs in the country and the second largest PC vendor overall. The investment in Vertex is aimed to continue our expansion in Israel by building a solid research and development presence in the country. We firmly believe in the great potential inherent in combining the innovative technology and entrepreneurship of Israel-based companies with Lenovo’s global presence."
Ehud Levy, managing partner at Vertex Venture Capital, said, "We are delighted to welcome Lenovo to our family of global investors. There is tremendous synergy between our investment focus and Lenovo’s long-term business goals. We believe that our strategic partnership with Lenovo will significantly contribute to the further success of our companies as well as bolster the local Israeli high tech sector. Based on our history since inception over 15 years ago, we are confident that this relationship will prove to be a win-win-win situation: for Lenovo, for Vertex’s portfolio companies and for Vertex’s fund."