Business Services Industry

Israel's Venture Capital Industry Is Booming.

Israel Business Today, June, 1999

The venture capital industry in Israel recorded another achievement as a new fund opened its doors in Tel Aviv. This month, Ascend Technology Ventures raised $60 million in seed money for investments that it is planning to make in Israeli high tech companies. The money was raised from American and Canadian investors.

The main Canadian investor in the new fund was Northern Telecom (formally Nortel) which invested $10 million. The other main investment in the fund came from the American venture capital firm NEA. With the Israeli industry finding no trouble in raising venture capital money for Israeli companies, the size of the funds are continuously increasing. Just a few year's ago the average venture capital fund in Israel managed $30-40 million; funds...

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