The Israel Innovation Authority (IIA), the branch of government dedicated to bolstering the national tech ecosystem, and the Ministry of Finance have announced the launch of the Yozma Fund 2.0, which is designed to encourage investment in Israeli high-tech through Israeli VC funds.
Almost all of the country’s largest institutional investment bodies opted to participate in the fund, among them Phoenix Insurance, Harel, Menora Mivtachim and Meitav Dash.
The submitted applications – worth just under $500 million – led to an oversubscription of the fund. As a result, a second incarnation is planned for the next budget year.
In March, the annual report by IVC–Gornitzky–KPMG Israel in association with the IIA found that 2023 – a fraught year of protests over planned judicial reforms, the worst terror attack in the country’s history and three months of war – saw 21 Israeli VC funds manage to raise just $1.52 billion.
The initial Yozma Fund was one of three created by the government in January to boost the sector during the war, which is now in its tenth month.
“The goal of the Yozma 2.0 Fund is to increase the share of local investment in the high-tech sector and create stability in long-term investments. We are pleased with the high demand for the program and hope that its objectives will be achieved over time,” said Yogev Gradus, Commissioner for Budgets at the Ministry of Finance.
“We are embarking on a new path in the relationship between institutional Investors and the Israeli high-tech [sector],” said IIA CEO Dror Bin.
“The Yozma Fund will incentivize the investment commitments of institutional entities in Israeli funds over the next 18 months, aiming to prevent a scenario of stagnation in early-stage investments in Israel. The fund will strengthen the partnership and accelerate collaborations between institutional entities and Israeli venture capital funds, thereby mitigating future crises in the venture capital market.”
Related posts
![](https://nocamels.com/wp-content/uploads/2024/09/Depositphotos_270702100_L-350x233.jpg)
Israeli-Indian Osteoarthritis Therapy Gets FDA Fast Track Designation
![ubq](https://nocamels.com/wp-content/uploads/2021/12/ubq-350x222.jpg)
Israeli Greentech Firm Expanding in US, Plans Waste 'Transformation'
![](https://nocamels.com/wp-content/uploads/2024/07/ah1-350x180.jpg)
TIME Taps Creator Of Diabetic Eye Test Among Most Influential In AI
![](https://nocamels.com/wp-content/uploads/2018/02/INSIGHTEC-350x180.jpg)
Facebook comments