Oct 21 (Reuters) - Moelis & Co has hired technology investor
Elan Zivotofsky as a managing director to provide financing and
transaction advice to Israeli-based companies, the investment
bank told staff on Wednesday in an internal memo seen by
A spokeswoman for the bank confirmed the contents of the
Zivotofsky formerly led growth-stage venture investments at
Ibex Investors, a U.S.-based investment fund focused on Israeli
companies. He will be based in Tel Aviv with the aim of helping
Moelis expand its business in the Middle Eastern tech hub.
Zivotofsky has spent over 20 years working with Israeli
companies as an investment banker and investor. He had led M&A
transactions for Checkpoint Software and NICE Systems when he
led tech M&A in the region at Lehman Brothers. Later, he
invested in companies, including electric bicycle service JUMP
Bikes and Wave Financial, according to his LinkedIn page.
Israel, known as a "startup nation," is home to over 6,000
active startups. In the third quarter, Israeli private high-tech
companies raised a record $2.74 billion, a 24% year-over-year
increase despite the coronavirus pandemic, according to the
Israel Venture Capital Research Center and ZAG law firm.
Headquartered in New York, Moelis entered the Middle East
market in 2011. Last year, it advised Israeli burn treatment
company MediWound in its license agreement with Vericel
. The boutique bank is also known for serving as
financial adviser to Saudi oil giant Aramco on its record $29.4
billion initial public offering in 2019.
(Reporting by Krystal Hu in New York; editing by Jonathan