Bezeq to invest $20 million in telco venture fund

State-controlled Bezeq Israel Telecom said on Tuesday, May 15, it will invest $20 million in a new venture capital fund that will help finance early stage telecommunications companies. 

Bezeq said Discount Capital Markets, the investment arm of Israel Discount Bank, has pledged to invest $10-17 million in the $50 million fund, to be called Stage One Ventures. A number of private businessmen will also contribute. 

Bezeq in the past has invested in other funds such as BRM Capital and Eurofund 2000. ― (Reuters, Jerusalem) 

© Reuters 2001

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