January 17, 2017 |The Israel Venture Capital Research Center (IVC) is reporting that Israeli venture capital fundraising activity in 2016 reached a total of $1.4 billion, with 23 VC funds raising for the 2016 vintage year, including 12 first-time funds. Of the 2016 vintage funds, 14 made a first closing at an average 60 percent of their targets, and are expected to raise additional capital to be added to the 2016 vintage funds. It is expected that 2016 vintage fund raising will have totaled $1.6 billion, a record for the past decade, to surpass 2015 vintage year’s $1.5 billion raised by 19 funds. A seventh Israeli VC fund raising cycle started in 2015, and has already reached 79 percent of the total amount raised in the sixth cycle, which took place from 2011 to 2014. Moreover, the amount raised by Israeli VC funds in the past three years remained high.