The downturn hit Israel’s venture capital market hard in 2009, with domestic funds only managing to muster $229m, a sharp drop of 72 per cent from the $803m raised in 2008.
The depressed figure is the third lowest annual amount raised in the past decade, according to recent data from the IVC Research Center.
Only three Israeli venture capital funds completed their fundraising efforts in 2009. Sequoia Capital Israel, an Israel-dedicated US fund, announced the final closing of Sequoia IV, a $200m vintage 2009 fund. Other 2009 vintage funds were TriVentures II, a $25m medical device fund with American medical technology company Medtronic Inc as its main investor, and Startvest 09, the Targetech Innovation Center’s new fund, which raised $3.7m.
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Author: AltAssets
