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   Highlights of the Israeli High-Tech, Private Equity & Venture Capital Industry           02/09/2010  


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Correlsense raising $2m bridge loan
Published by: Globes
www.globes.co.il
Shmulik Shelah
12/05/2009

ProSeed, Vertex, and eXeed, owned by Correlsense chairman Sam Somech, are extending the loan.

Automated infrastructure monitoring systems developer CorrelSense Ltd. Is raising a $2 million bridge loan from its current investors, ProSeed Venture Capital Fund (TASE:PRSD), eXeed Technology Ltd., and Vertex Venture Capital. eXeed is owned by Correlsense chairman Sam Somech.
ProSeed notified the Tel Aviv Stock Exchange (TASE) that it will invest $250,000 in Correlsense. The loan will bear 8% interest, and can be converted into Correlsense shares at the company's next financing round. ProSeed owns 11% of the company.





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Articles & information compiled and edited by Marianna Shapira
The most complete volume of Israel’s high-tech & venture capital industry. The yearbook includes data on Israeli technology companies, VC investors and more.

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