Tzahi Sultan bringing Big-Tech 50 to TASE

• Published date: 13 December 2020
• Date: 13 December 2020
• Author: Aviv Levy

Sultan, who is chairman of Discount Capital Underwriting (which will lead the offering), and who is invested in a wide range of businesses, controls the general partner in Big-Tech 50 together with Arik Czerniak, general partner at early-stage venture capital firm Axon Ventures.

Big-Tech 50, which was founded in February this year, states in its draft prospectus that it intends "to create an index of 50 technology companies with a market cap of around NIS 1 billion, in accordance with clear investment criteria," and to do so within three years.

The partnership is meant to enable the public "to support the technology market" and "to invest in large technology companies at the pre-IPO stage, and thus in the event of an exit in that technology company, to participate in the company's success."

Two deals signed so far

Big-Tech 50's investment policy stipulates a number of criteria for investment in companies, among them that a venture capital fund should be one of the shareholders, a valuation of over $200 million in the company's most recent fund-raising round, annual revenue of over $10 million, revenue growth, and at least three years of activity.

So far, Big-Tech 50 has signed two deals that are conditional on the flotation being completed. One is for investment of a few million dollars in the shares of ride sharing company Via Transportation. The other is for...