Massachusetts Invests in Early Stage Israeli Firms

The Massachusetts Pension Reserves Investment Management (PRIM) Board, the group that oversees the state’s Pension Reserves Investment Trust, announced last week a financial committment to early stage medical device companies in Israel. PRIM said it would make up to a $15 million investment in SCP Vitalife II, a $150 million venture capital fund organized by SCP Partners of Wayne, PA. The move was part of $365 million in commitments made last week by PRIM to four private equity funds, Pensions & Investments reported, and represented the group’s first country specific investment outside the U.S. and Europe. The Jewish Advocate said the investment marked PRIM’s “first financial steps into Israel’s economy.” For more information on Israel’s medical device industry, read a summary report.

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