Aurum, the single family office of Isareli billionaire Morris Kahn, sold half of its stake in the Beit Aurec project to Harel Insurance Investments and Financial Services for NIS 100M (€25M).

Beit Aurec Real Estate in Tel Aviv

Beit Aurec is a 16,000 sqm property of office and commercial space in Tel Aviv’s Abba Hillel Street. The building has a high 98% occupancy rate, its anchor tenant is the Metier Liquornik law firm. The Morris Kahn family office previously held a 80% stake in Beit Aurec. Now, Harel acquired half of it for NIS 100 (€25M) and now holds 40% of the building. The remaining 20% of Beit Aurec are held by private investors.

Morris Kahn Single Family Office

Morris Kahn is one of the most known billionaires from Israel. He launched Amdocs in 1982 as part of the Aurec group – which is know a billion dollar stock-listed software firm. Today, his family office is active in real estate, venture capital and capital markets.

Picture Source: Shai Pal
Source: Globes, 29.06.2020

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Israeli startup Redefine Meats works on 3D printers for artificial, plant-based meat. A recent $6M funding round was led by CPT Capital, the venture capital arm of Jeremy Collers single family office.

Startup in a $130 billion industry

According to Redefine Meat’s website, the meat alternative market is expected to reach $140 billion in annual sales by 2030. The Israeli startup wants to “introduce a technological platform to develop, launch and scale the next generation of Alt-Meat”. Products of the company are aimed to produce vegetarian meat which resembles traditional meat. Redefine Meat was founded in 2019 by Eshchar Ben-Shitrit. About the achievements of the company so-far, Ben-Shitrit says: “We have already successfully printed great products for multiple foodie events, and over the coming 12 months, we will take the technology to the next level where we expect to make a huge impact on the meat market and the future of our planet.”

$6M investment round to finalize the development

The recent round is intended to support the final development of the revolutionary 3D protein printer. The round was led by CPT Capital. Other investors are Israeli Hanaco Ventures, angel investors and the German poultry firm PHW-Group. As previously stated, CPT Capital is the venture capital of Jeremy Coller. Coller – a UK citizen – founded the first European private equity fund for secondaries in 1990. His family office CPT Capital is one of the leading VC investors in revolutionary foodtech. Other investments include BeyondMeat, alphaFoods or SeaCo. CPT Capital’s portfolio is divided in Plant – Based Protein startups, Recombinant Protein startups and cell culture startups. Like Beyond Meat, redefine meat counts as “Plant-Based Protein” startup.

Sources
Just Food, 16.09.2019
CPT Capital, 16.09.2019
Emerson Vieira, 16.09.2019

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