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L Capital invests $17.5m in two start-ups - The fund invested $7.5 million in Hi-G-Tek and $10 million in Aquarius Technologies

Sources inform "Globes" that L Capital Partners, run by general partner Jonathan Leitersdorf, has invested $10 million in Israeli start-up Hi-G-Tek Ltd., the fund's third investment in Israel. Battelle Ventures also participated in the financing round. L Capital manages $165 million and Battelle Ventures, a partner in US Department of Energy laboratories, manages $150 million.

Hi-G-Tek develops active radio frequency ID (RFID) products that transmit cargo data. The company's products enable the management of goods and assets in real time. The technology's applications include securing logistics assets, protecting cargoes and containers, and monitoring transportation logistics. The products make it possible to monitor the location of cargoes and know their status in real time.

L Capital Partners principal Sarit Soccary Ben-Yochanan, who is based in Tel Aviv, said, "Hi-G-Tek suits our investment policy in Israeli companies, and companies in general. The company operates in the homeland security field, one of our investment areas, and it is known to the market and has sales. L Capital focuses on investments in security companies that have technologies with commercial applications."

Hi-G-Tek is believed to have doubled its sales since 2003 to $6 million this year.

L Capital Partners has also reportedly begun to invest in Aquarius Technologies Inc., which has closed a $7.5 million financing round. The company was founded to market patent-protected technologies developed by Ariel-based Elif -- Environmental Engineering Ltd. Elif has developed technologies for treating industrial and municipal waste and for purifying water with biological methods that do not create sludge. The treatments do not use chemicals.

L Capital Partners led the financing round, the proceeds of which are intended to enable Aquarius Technologies to enter new markets, mostly in North America, and to boost product sales. Aquarius Technologies president and CEO Tom Pokorsky, previously served as chairman of the Wastewater Equipment Manufactures Association when he was president of Sanitaire (now part of ITT Corp).

Leitersdorf founded L Capital Partners in 2004. The fund invests in high-tech companies, especially in homeland security, life sciences, and the environment. The fund focuses on growing companies with expanding development and initial sales. The fund's portfolio currently includes ten companies. In addition to Leitersdorf, the fund's main investors are Bank Leumi (TASE: LUMI) and the US Small Business Administration (SBA).