Exclusive: SoftBank appoints ex-Mossad chief Yossi Cohen to head Israel office

From the head of the Mossad to the largest venture capital company in the world: “Globes” sources reported that the Japanese investor Masayoshi Son SoftBank has appointed former Mossad chief Yossi Cohen as the director of its activities in Israel. SoftBank is the world’s leading technology fund, with huge investments in companies such as Uber, Alibaba, TikTok and Didi. This is the second investment giant to open a representative office in Israel in three months, after Blackstone appointed Yifat Oron as its first managing director and head of its Tel Aviv office. One of the reasons for choosing Cohen is the fact that he is a well-known and popular figure in Israel, even though he has no background in investing. Cohen has the ability to connect with Israeli entrepreneurs and technology and open doors for them in any company, government or public authority in any region. Cohen will manage SoftBank’s business in Israel, explore companies for investment, and help these companies find global markets, with a focus on Asia. Cohen will work with the SoftBank team in Europe and the Middle East, which is managed from London by SoftBank Vision Managing Partner Yanni Pipilis. It will be a member of SoftBank’s second fund, worth $30 billion, and will not make investments from the company’s first fund, among its investors, the Saudi sovereign wealth fund. Globes has learned that SoftBank intends to write a check of a minimum of $50 million for developing companies with valuations of at least $250 million that have proven AI technology at a high level, whether it’s a technique to find the right price. An enterprise client or program that serves other organizations. The companies that could benefit from the SoftBank investment are growth companies in the late stages of fundraising, from the second, third or fourth round. SoftBank will require companies to have at least $10 million in annual revenue, with a rapid growth track record and numbers pointing to profitability, even if over the medium term. “SoftBank has pioneered a new approach to technology investment and created the world’s largest ecosystem of emerging tech champions,” Cohen said. “Israel’s advanced technology and entrepreneurial culture makes it a natural fit for SoftBank’s investment vision and I look forward to helping fast-moving companies expand in the region and the world.” “We are very interested in expanding our presence in Israel. We believe very much in the ecosystem that exists in the country, because we are investors in technology and artificial intelligence, and Israel has great entrepreneurs and founders in this tech field, ‘globes.’” We felt that increasing our focus in the region would be something logically. We have recently completed several investments in Israel, and we see many other attractive opportunities. Related Articles SoftBank Will Buy WeWork’s Adam Neumann for $1.7 Billion SoftBank Leads a $300 Million Round in Lemonade Sports tech company PlaySight has raised $10 million from SoftBank, CE SoftBank invests $100 million in Israeli firm Cybereason Blackstone opens office in Israel “When we met Mr. Cohen, we were immediately excited by the opportunity to work together. He is very well connected to the Israeli industry in general, someone that entrepreneurs and founders can identify with and who can be a focal point for us.” Obviously, his relationship across Israeli industry, and the ability to traverse International relations are effective to essentially be able to help connect these entrepreneurs globally to the AI ​​ecosystem.” When we invest in a company, we seek to introduce them to the SoftBank network of more than 200 companies, helping them expand into new geographies, such as Asia, Japan and the Middle East. Mr. Cohen’s experience in international dealing is a huge asset.” Published by Globes, Israel business news – en.globes.co.il – on July 9, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021