TechNation: Venture Investor 83North Raises $250 Million for Its Fourth Fund

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A high-tech workplace in Israel.
File photo: A high-tech workplace in Israel.Credit: Ilya Melnikov

Venture investor 83North raises $250 million for its fourth fund

83North, the Israeli-European venture capital firm, said Wednesday it had completed fundraising for a new $250 million fund – its fourth and biggest since the firm was formed 11 years ago. The 83North IV fund brings the firm’s total capital under management to $800 million. Originally known as Greylock Israel, 83North operates from offices in Herzliya and London and partners include Laurel Bowden, Arnon Dinur, Erez Ofer, Yoram Snir, who have backed more than 40 companies, and Gil Goren, who was previously the highest-ranked Israeli executive at U.S. tech company EMC. Ofer’s joining 83North was the reason for the latest fundraising, he told TheMarker. The venture capital firm raised the $250 million in just three months and ended up turning away potential investors, Ofer said, adding, “We could have raised more, but we think we have the right amount – especially if we are going to earn threefold returns.” (Eliran Rubin)

Israeli Lior Ron outed as Uber employee named in Google lawsuit

Israeli Lior Ron was inadvertently outed this week as the second Uber employee facing a lawsuit from Google. When Waymo – the self-driving car unit of Google parent company Alphabet – filed a suit in February accusing Uber of illicitly acquiring its proprietary self-driving car technology, the suit only publicly named one Uber executive: Anthony Levandowski. But court documents made public on Monday accidentally revealed that the other, previously anonymous, Uber executive in the case is Ron, whose last name was deleted from the papers but not his first name nor his work history. Levandowski and Ron worked at Google before leaving to start the self-driving truck company Otto last May, which they then sold to Uber for $680 million three months later. Ron lists his current position on LinkedIn as “cofounder at Otto.” Waymo claims that Levandowski and Ron allegedly tried to recruit Google employees using confidential information, like salaries and compensation packages. (TheMarker Staff)

Becton, Dickinson buys remaining 60% of Caesarea Medical

Becton, Dickinson and Company said Wednesday it had acquired the remaining 60% in Israel’s Caesarea Medical Electronics, a maker of portable infusion pump systems for IV and epidural anesthesia and pain management. No financial details of the transaction were released, but the U.S. firm reportedly bought the stake at a $250-million company valuation. “Our relationship with BD has been very successful over the past two years, and this is the next logical step to elevate our infusion technologies,” said Swi Barak, Caesarea Medical’s founder. BD acquired Caesarea in 2015 when it bought CareFusion Corporation, which had bought the Israeli company a year earlier for $100 million. BD said acquiring full control of Caesarea Medical will expand its portfolio of infusion products to include Caesarea’s ambulatory, home and specialty acute care pumps. Caesarea Medical was founded in 1993 by Swi and Anat Barak, and operated out of the public eye until it was bought by CareFusion. (TheMarker Staff)

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