Industry: Media and Entertainment, $2.3 million, April 1989

Investment Type: Growth Capital

Company Description: In 1987 Matav was granted an exclusive license to supply cable TV services in four geographic locations in Israel. Given its extensive industry experience, Shamrock saw an opportunity to invest in and add value to the development of a key growth industry in the Israeli market.

Transaction: In November 1990 Matav became the first cable TV company to commence commercial transmission in Israel. After making an additional investment in 1992, Shamrock actively assisted Matav in obtaining additional licenses which significantly expanded its franchise area. With the participation of the Shamrock Group, Matav raised $7.5 million in an Israeli IPO in 1993 and $50 million in a NASDAQ offering in 1996.

Status: The investment was sold in two transactions, the first (in 1995) after 6 years and the second (in 1997) after eight years, and produced an IRR of 58.7% and a 15x multiple.