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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE Israeli high-tech companies raise $617m in Q1 200829/04/2008. Source: AltAssets. 
In the first quarter of this year 135 Israeli high-tech companies raised $617m from venture investors, the highest amount in seven years, according to a quarterly survey from the IVC Research Center. The capital raised in the quarter was 52 per cent above that raised by 121 companies in the first quarter of 2007, and 23 per cent above the previous quarter's amount raised by 115 companies. A total of 96 companies attracted more than $1m each. Of these, 29 companies raised between $5m and $10m each, 14 companies raised between $10m and $20m each, two companies raised between $20m and $30m each and two companies raised more than $30m.
'2008 started exceptionally well, demonstrating the strength of the local high-tech industry,' said Zeev Holtzman, chairman of IVC Research Center and Giza Venture Capital. 'A relatively high number of high-tech companies took advantage of the momentum built up in 2007 and raised significant capital based to the premise that "one should raise money when one can and not when it is needed." Capital raising activity will probably moderate in upcoming quarters. Yet, we expect that the $1.6bn average investment level of the last few years will be maintained in 2008.'
On the investment side, Israeli venture capitalists put $262m into Israeli companies in the first quarter of 2008, representing a 53 per cent increase over the first quarter of 2007 and an 84 per cent increase over the fourth quarter of 2007.
'We have not seen such high figures since the first quarter of 2001,' said Efrat Zakai, director of research at IVC. 'The quarter was characterised by a high level of investment by Israeli VCs, as six funds each invested more than $15m.'
This survey reviews capital raised by private Israeli high-tech companies from Israeli venture capital funds and from other investors. The survey is based on reports from 86 venture investors of which 47 are Israeli management companies and 39 are other - mostly foreign - investment entities.
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