1. Venture Capital Investments Mr. Yigal Erlich
President & CEO, The Yozma Group
Chairman, Israel Venture Association

2. Venture Capital Raised
3rd Wave
1st Wave:
Establishment
of Yozma
2nd Wave
Source: PriceWaterhouseCoppers

3. Average Leading VC Size ($M)
VC firms development over the years
1993-5
1996-8
Average Leading VC Size ($M) 20 80
No. of Venture Firms 15 40 60

4. Source: PriceWaterhouseCoppers

5. Capital Raised in Public Offerings of Israeli Companies in the US

6. M&As of Israeli Technology Companies and Foreign Strategic Partners:
$1.5B
$4.5B
1st Half
$7.6B

7. Source: PriceWaterhouceCoopers - MoneyTree

8. Source: PriceWaterhouseCoppers

9. Israeli VC Arena today Political Risk Declining Capital Markets
Uncompetitive Tax Policy
Mature VC market
Globalization of VC’s

10. Uncompetitive Tax Policy
Tax on foreign Investors
Double tax on Israeli related companies for U.S investors
Double tax on some European Investors
 Uncompetitive VC Market
Increased Carried perception