On the heels of Walden Ventures failed attempts to raise $125 for a fourth fund, Teuza hopes it won’t fall victim to a similar situation. Its hoping that its selling six months ago of its 40% stake in NESS Neuromuscular Electrical Stimulation Systems Ltd. to Bioness Inc. for $75 million will help finance the fund.
According to Teuza’s website:
“Total company market value currently stands at about 27M$ having a net equity worth of about 25M$. Since the beginning of January 2004 the price per share of Teuza shares increased by 70%. So far, Teuza Fund has invested in 15 companies, in the total amount of $35M. Usually the company prefers to have a large equity stake between 25%-49%, so that every successful exit becomes very significant. Teuza has successfully exited from nine companies (partial exit from four of them).”
Some of Teuza’s recent exits:
* In April 2000 Nova Measuring Instruments Ltd., in which the original investment was $900,000, issued its shares on the USA NASDAQ stock exchange (at a post money valuation of $285 million).
* Teuza had a successful exit from WaveAccess when Lucent bought the company for $60 million. The profit from this realization was about NIS 43 million.
* Teuza realized its balance investments in Oramir that was sold to for $27 million.
By Dani Dechter
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