above: Zohar Gendler, Managing Partner & CEO NGT HealthCare II
NGT HealthCare II Impact Fund from Nazareth, Israel, announced the raising of a new fund, with commitments of approximately $92M. The funds are intended for investments in breakthrough medical technologies and in the promotion of entrepreneurship from the Arab society. NGT HealthCare II Incubators program also won a $30 million from the Innovation Authority to furthrr support its portfolio companies.
Today NGT supports 25 early-stage startup companies, and in 16 “year zero” projects (pre-incubator, academic projects) in biotechnology, bio-convergence, and medical devices. Portfolio Companies will also receive access to the offices and laboratories at the Fund’s facility in Nazareth, business services , support in pre-clinical and clinical trials and access to strategic partners.
Among the investors in NGT HealthCare II Fund: T3, the commercialization arm of the Technion, and Hadassit, the technology transfer company of Hadassah Jerusalem, Arkin Holdings, Jacobs Investment Company LLC, Consensus Business Group and Arbelon holdings, Dr. Salvador Pascual, Abu Ayash brothers, Federmann Enterprises, Shehade medical services, Imad and Reem and IBI investment house.
The Fund holds a 1,100 square meter facility in Nazareth including laboratories and 3 clean rooms. Zohar Gendler, Managing Partner & CEO NGT HealthCare II, said: “We will continue to build innovative life science companies, commercialize technologies from universities and hospitals, and encourage entrepreneurs from the Arab society.”