Prof. Shlomo Noy – The former Director-General of the Sheba Medical Center, Israel is a General Partner of The Guangzhou-Israel Sino Bio-industry Investment Fund (GIBF) of ¥ 606 million that began operating in 2016 in Guangzhou, Guangdong, China. It is a typical LP/GP partnership between four Chinese investors, headed by the Guangzhou Municipal Government, and a group of Israeli leaders that control and manage the Fund’s General Partner and Investment Committee.
GIBF’s mission is to invest and promote the establishment of Chinese subsidiaries of foreign companies that are active in the biomedical field out of China.
As GIBF enjoys a unique Israeli-Chinese team, barriers of language, culture, mentality and trust are easily overcome. Moreover, the Fund’s strategy is to establish Chinese subsidiaries in which the foreign company holds a major stake. As a result, the foreign company benefits from all the value created in China and not only from proceeds or royalties on sales by a local partner/agent/distributor. This is a new and very attractive model for foreign companies wishing to do business in China.
During the short time since its establishment, GIBF has already closed six investment transactions and established five new Chinese JVs:
The GIBF Group also serves as the official representative of the Guangzhou Municipal Government in Israel through the Guangzhou Innovation Office in Tel-Aviv. It is also involved is numerous other business actives in Guangzhou, including a biomedical accelerator, a large digital health project, importation of advanced drugs to China, and establishing additional funds in other fields.