• 04 Jul 2017

    Theranica Raises $6M to Combat Migraine

    NETANYA, Israel, July 3, 2017 /PRNewswire/ --

    Theranica Bio-Electronics, a bio-medical technology company developing advanced electroceuticals for migraine and other prevalent diseases, announced the closing of its round A of financing, led by Lightspeed Venture Partners. Other investors participating in the round are LionBird venture capital firm and Corundum Open Innovation.

    The funds, totaling about $6M will be used mainly to complete the regulatory process of the company's first product, for acute treatment of migraine, and to bring the product to mass production.

    Established in 2016, Theranica deploys advanced electronics and wireless communication technologies, combined with recent advancements in the research of neurology, to develop a line of "electroceuticals" - drug-free solutions for a few medical conditions, starting with migraine.

    "This investment finds the company in the midst of its pivotal clinical study, which is being conducted now in 8 hospitals and clinics in the USA and Israel", said Alon Ironi, CEO and co-founder of Theranica. "This is a major step in our regulatory pathway. In parallel to completing this study, we develop solutions for additional debilitating diseases".

    "This new partnership with Lightspeed and the other investors will give Theranica the mass and muscle to address the huge potential of the rapidly increasing market for effective solutions for migraine", said Dr. Shimon Eckhouse, Theranica's chairman of the board.  

    "With more than 32 million Americans suffering from migraine, this is a problem yet to be solved", said Professor Stephen Silberstein, director of the Jefferson Headache Center in Philadelphia and former president of the American Headache Society, who serves on the company's medical advisory board. "Based on the promising clinical evidence produced so far by Theranica, as well as the simplicity of use and low cost of their innovative device, the company's solution has the potential to become the first line of acute treatment for migraine".

    "We are witnessing tectonic changes in the perception and understanding of healthcare technology and services", said Yoni Cheifetz, a partner with Lightspeed. "Healthcare professionals and consumers worldwide realize the dangerous impacts of pain killer addiction. Theranica's product (still in investigational phase) brings a drug-free, risk-free solution for hundreds of millions of migraineurs worldwide, which may rid them from the need to consume conventional drug-based pain killers. "

    About Theranica: Theranica is a medical device company, founded in 2016 by Alon Ironi, Ronen Jashek, Slava Barabash and Dr. Shimon Eckhouse, with the vision of combining advanced neuromodulation therapy with modern wireless technology to develop proprietary electroceuticals that address prevalent medical conditions and diseases.

    For more information about Theranica, visit http://www.theranica.com.

  • 15 Jun 2017

    Viola Credit Announces Profitable Realization of Telit Transaction

    In May of 2014, Viola Credit funds led a Management Buyout transaction by providing a $25.6M loan to finance the additional purchase, directly and indirectly, of Telit Communications shares by certain companies controlled by Oozi Cats, CEO and Executive Director of Telit. The transaction enabled Mr. Cats to assume control of over 20% ownership in Telit Communications.

    The loan carried an annual interest as well as an equity kicker in the form of Telit shares. A rise in Telit’s share price, from 195p when the loan was provided to 340p today, enabled Mr. Cats to repay the loan in full, plus interest.
    Realization of Viola Credit’s shares in Telit, (that were given in connection with the transaction), together with the primarily sum of the loan and the interest, enabled the fund to generate a total return of $40M to its investors.
    Telit is a publicly traded provider of global wireless technology company. The Company is a global leader in Internet of Things (IoT) enablement. They offer the industry’s broadest portfolio of integrated products, platforms and services to support and enable IoT deployments from things to apps. Its portfolio of modules addresses all cellular communication technologies, GNSS and short-to-long range wireless applications. Its IoT connectivity plans and IoT platform services help reduce the risks, time to market, complexity and costs associated with deploying and providing IoT services across industries and vertical markets worldwide. 

  • 04 Apr 2017

    Viola Credit acquires Negev Ceramics at a value of NIS 335M

    Viola Credit, the debt arm of the Viola Group, along with a group headed by businessman Yariv Lerner, announced today the signing of a strategic agreement to acquire the Negev Group (Negev Ceramics), owned by Africa Israel Industries, at a value of NIS 335 million.

    The deal includes rescheduling of NIS 260 million in debt, plus the injection of NIS 75 million into Negev Ceramics, to improve its cash flow.

    The group of buyers brings with it a combination of vast experience in financing, management, turnarounds and accelerating growth of companies.

    Negev, which was established in the late 1960s, currently leads its field in Israel and employs about 750 people. The company is engaged in three main areas: manufacturing of porcelain granite tiles in the Yeruham production plant; retailing of home design solutions under the brands of 'Via Arcadia', 'Negev' and 'Super Ceramic'; and importing and wholesaling activities through an exclusive franchise for the 'Grohe' products in Israel.

    Viola Credit's Founder and General Partner, Ruth Simha, said, "We regard Negev Ceramics as a veteran Israeli company and a leader in its sector, with a leading and beloved brand and dedicated employees. We are confident that with excellent management, cutting its debt, and a new injection of funding, the company can once again be strong and prosperous, as it was for many years, ensuring a stable home for its hundreds of dedicated employees."

    Yariv Lerner said, "Negev is a leading company in the field of building products, beloved and popular among constructors, architects and interior designers, in which we see true partners for our recovery plan that will bring Negev back to its position as a growing and profitable market leader."  

    Following the acquisition, the buyers announced the appointment of Ori Gilboa as CEO of Negev Ceramics. Gilboa served as a CEO of James Richardson for four years. Prior to that, he served as CEO of the automotive division of Mira Group (Honda, Volvo, and Jaguar), where he managed an operation of 1,500 employees and brought with him extensive managerial, operational and marketing experience.

    Yariv Lerner has been appointed an active chairman of the company, and has worked as a CEO of Natalie Medical Services, which he successfully rehabilitated and led the acquisition.

    The Barnea & Co. law firm advised Viola Credit in the acquisition.
    It should be noted that the transaction is subject to the approval of the Court and Antitrust Commissioner. 

  • 29 Jun 2017

    RT @TechCrunch: Microsoft confirms Cloudyn acquisition, sources say price is between $50m and $70m https://t.co/YMlB85r3Cs by @ingridlunden
  • 29 May 2017

    Check out photos of the 1st #IsraelGrowthSummit, held by Viola & Israel Growth Forum led by @Wix… https://t.co/Kdo5rnj2p3
  • 27 May 2017

    Great read: 4 Things Entrepreneurs Can Do to Build a Truly Great Business, by @Payoneer CEO. https://t.co/3wx5QnXPDC

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Viola Credit is Israel’s premier private credit fund offering multi credit products to growing companies

As Israel’s premier private credit provider, we provide custom credit solutions to mid, late and growth-stage technology focused companies. We manage several main vehicles including: Venture Lending, Alternative Lending, Mezzanine and Distress. Since 2000, Viola Credit successfully completed over 100 transactions and committed over $650 million to Israeli and non-Israeli companies with substantial revenue and growth momentum.

With deep credit, banking, technological, financial and operational experience, the Viola Credit team enjoys excellent access to a broad deal-flow of opportunities, and has become the “lender of choice” to many of Israel’s most promising companies.

Venture Lending: The venture lending model is based on a senior-secured loans to technology companies in their growth stage. Our loans enhance growth and minimize equity dilution for founders and management alike. It is the most efficient financing solution for leading tech companies with promising growth and value creation ahead of them.

Alternative Lending:
In the alternative lending we construct a diversified portfolio of senior-secured direct credit investments. We focus on global top tier specialty lending platforms, primarily through the online balance sheet lending model in different products and asset classes.

Distress & Mezzanine:  Mezzanine lending is the smart financing choice for growth and expansion phases, M&A’s or leveraged buyouts. Mezzanine loans can strengthen debt capacity by providing additional capital beyond what a senior-secured lender is willing to provide. In the distressed arm, we are focused on off-market distressed opportunities through partnerships with operational and management leaders  with a proven track record in recovering industrial companies. 



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