from the April 2009 issue

$793m of capital raised by Israeli venture capital funds in 2008

Israeli venture capital funds raised a total of $793 million since January 2008, 30 percent less than the $1.14 billion raised in 2007. A number of funds completed their capital raising efforts, including Carmel III with $235 million, Gemini V with $150 million and Cedar III with a $100 million fund.

During 2008, a number of Israeli venture capital funds announced first closings for a total of over $300. Israeli VC veterans Giza Venture Capital and Jerusalem Venture Partners, with their fifth funds, and Genesis Partners, with its fourth fund, each announced first closings of $100 million. In the past 10 years, Israeli venture capital funds attracted a total of some $11 billion. According to IVC, about $1 billion in capital is currently available for investment by Israeli venture capital funds, of which $400 million is intended for first investments in high-tech companies and the remainder reserved for follow-on investments.

IVC Research Center predicts Israeli venture capital funds will raise an additional $300 million in 2009 for investment in Israeli high technology over the next few years.

Israeli private equity funds that partly invest in technology companies, such as Fortissimo II, Israel Secondary Fund, Vintage IV Fund of Funds, or Viola Private Equity that raised nearly $400 million in 2008 combined, are not included in this review.

Reprinted from the Israel High-Tech & Investment Report April 2009

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