Applied Materials invests in Israeli wireless venture
Applied Materials Ventures, a venture capital partnership that focuses on early stage communications companies, announced an investment in M-Stream Inc, whose R&D center is located in Kfar-Saba, Israel.
M-Stream develops technologies that enhance cellular communications. The investment is part of a $1.5 million Series A funding round that includes Broadcom Corporation. Applied Materials Ventures will have a seat on M-Stream's Board of Directors.
"Applied Materials Ventures is an attractive investment partner for us because of the entrepreneurial backgrounds of the firm's principals," said Arie Heiman, M-Stream CEO. "Having built businesses of their own, they clearly understand the challenges we face as a young company. Their perspective as entrepreneurs is a valuable asset to this relationship."
"We are very pleased to add M-Stream to our portfolio as the first of many international investments," said Julien Nguyen, a General Partner at Applied Materials Ventures. "All over the world, innovative companies like M-Stream are developing new technologies with global applications. We intend to seek them out. Our international perspective provides us with a better understanding of emerging technology trends and enhances the overall value of our portfolio."
As part of this strategy, Applied Materials Ventures recently established a presence in Israel. The company now employs a full-time professional to identify promising investment opportunities in the burgeoning Israeli technology sector. The firm intends to extend its presence to other international markets as well.
Applied Materials Ventures is a venture capital fund focused on early-stage communications companies. Applied Materials Ventures' general partners are experienced entrepreneurs and technology leaders with prior experience in founding and growing successful companies. Applied Materials Ventures' current portfolio includes Infinera, GlimmerGlass Networks, Grandis and Instant 802 Networks. — (menareport.com)
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