According to the Israel Venture Capital Research Center, Israeli high technology firms have raised US$474 million in venture capital funding in the first quarter of 2013.
The amount was raised in the first quarter of the year and was 4% lower compared to the fourth quarter of 2012. This is also 2% lower compared to the first quarter of 2012. The figures came from the IVCRC in cooperation with the Israeli branch of KPMG.
According to Ofer Sela, a partner at KPMG's technology group, "The majority of funding during the first quarter of 2013 was allocated to companies already generating revenue in businesses where feasibility was already proven. Most funding to companies at that stage was directed to the software and Internet sectors. This reflects the cautiousness of investors nowadays."
For its part, the IVC Research Center CEO Koby Simana said, "The increase in Israeli VC fund activity in the first quarter of 2013 is a direct result of capital raising by the funds in 2012. Several funds are currently in advanced stages of capital raising. As a result, we expect the overall amount of capital to grow, expanding Israeli VC fund investments in local high-tech companies, and even possibly increasing their share of investments in the industry."
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