Tevel Israel Angel Investors Club To Meet In New York

By Joel Leyden
Israel News Agency

New York ----- November 28, 2007 ....... Tevel, the first ever Israel centric Angel hi tech investors club, will host its second full scale club meeting in New York. Tevel was established with the goal of bringing together early-stage Israel companies and US investors in order to generate new business opportunities, while supporting Israel’s growing economy and nurturing its technological entrepreneurship.

Tevel recently announced that an angel investor member had invested in one of the four companies that presented during its launch event, which took place on September 6, 2007, and by that marked the first investment made by a Tevel pair of wings. Since September, all presenting companies have made tremendous progress, some have started clinical trials and one is currently preparing for the first official utilization of its product in March 2008.

Following the launch event, the Tevel Israel investor club has received numerous applications from promising Israel start up companies and consequently enlarged its executive committee. Tevel’s team of executive members is composed of eminent professionals, who are considered to be the top of their fields. The executive members perform the screening process, resulting in the selection of the most promising companies, which presented tonight before an esteemed group of potential angel investors. Currently, Tevel’s executive committee lists seventeen members from leading established businesses. One notable member is Yaron Galai, founder of Quigo, recently acquired by AOL for over $360M. The recent acquisition was titled as the best exit of an Israel technology company for the year 2007.

The upcoming Tevel investor meeting for Israel hi tech and Internet companies is expected to be a huge success with over sixty angels, who all share Tevel’s commitment and enthusiasm to benefit the Israel economy.

Dr. Orna Berry, the former chief scientist of Israel, will give an interesting overview of the start up sector in Israel, and will emphasize the importance of the role Tevel is playing by creating a platform that generates potential investment opportunities. Amongst the guests, are esteemed Hedge Fund managers, Venture Capitalists, Private Equity Fund managers, Investment Bankers and other individual accredited investors.

The presenting companies, representing promising innovations in the fields of Medical IT, Internet and New Media, will provide a number of fascinating presentations. Upon the conclusion of the event, it is expected that many of the attending guests will request to follow up with representatives of the companies in a more private setting with the goal of investing in them.

In addition to Tevel’s pending status as a 501(c) (3) organization, Tevel incorporated a philanthropic arm into its activities. By enabling an established Israel philanthropy to present its case for support tonight, Tevel offered concrete opportunities to donate funds to important Israel related causes alongside generating pure business opportunities.

Tevel intends to host bi-monthly Israel hi tech investment club meetings, with the hope of raising $250,000 to $2,500,000. The next Tevel Angels event is scheduled to be held on the second week of January.

Tevel was founded in spring 2007 by Dr. Oren Fuerst and Oren Heiman, two prominent Israel business professionals living in New York.

 Related site: Israel Ministry of Trade in New York.