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Public cos and start-ups benefit non-profits through Tmura

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Wednesday, February 23rd, 2011

As reported by IVC:

Tmura’s exits to date have generated over $3 million for charity, which has benefited more than 30 non-profit organizations in Israel.

Tmura the Israeli Public Service Venture Fund said that over the course of 2010, transactions including exits by Wintegra Inc. and Vringo Inc. (AMEX: VRNG-U ) resulted in nearly $200,000 in new grants for youth and education projects in Israel.

These fourth-quarter exits cap off a strong year for Tmura which began with exits by Convergin and Dune Networks, two other Tmura portfolio companies.

Rather than soliciting cash donations, Tmura receives grants of stock from companies and uses the proceeds from successful “exits” a public offering, acquisition, or sale of shares on the market to fund education- and youth-related charities in Israel.

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