March 19, 2015 / 11:13 AM / 5 years ago

UK fund to enable small investments in Israeli tech firms

TEL AVIV, March 19 (Reuters) - Taurus Asset Finance, a UK-based financier, is launching a fund that will enable retail investors to invest in start-up technology companies in Israel and the United Kingdom.

Wekix II is an Enterprise Investment Scheme (EIS) fund specialising in cloud, Internet, mobile Internet and e-commerce early-stage firms. EIS is a series of UK tax relief measures designed to encourage investments in small unquoted companies.

Shay Hasson, managing partner of Wekix II, noted that Israel is home to a large number of tech start-ups.

“Its businesses have continued international investment opportunities and we want to tap in to that,” he said on Thursday, adding that London has the market, creative services and capital that Israeli high-tech companies need to grow.

In 2014, Israeli high-tech companies raised a record $3.4 billion from venture capital and private investors, led by the Internet sector, according to the Israel Venture Capital Research Center.

The minimum investment the fund will take is 5,000 pounds ($7,451) and the closing date for investment is June 30.

$1 = 0.6711 pounds Reporting by Tova Cohen

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