Yossi Vinitski, October 2013 “Knowledge as an economic driving force: the case of Israel” ‘Yozma’ & The Israeli VC Landscape.

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Presentation transcript:

Yossi Vinitski, October 2013 “Knowledge as an economic driving force: the case of Israel” ‘Yozma’ & The Israeli VC Landscape

Yossi Vinitski Barcelona August 2013

Yossi Vinitski VC Career Senior Investment Manager Partner Bs.C Mechanical Engineer MBA

2013 H1 Summary

$ 4.9B Israeli hi-tech exits 10 Deals of more than $100M

2013 H1 Summary $ 1B $ 0.9B $ 0.475B

2013 H1 Summary 312 Israeli hi-tech companies raised $967M

2013 H1 Summary $763M (79%) VC investments in 184 companies

2013 H1 Summary $265M Israeli VC investments (27% ) 60% deal participation

Yozma Yozma is the Hebrew word for initiation

Yozma Mission: To create a venture capital market in Israel. Establish a $100M Government investment company

Yozma Policy: Create professionally managed Funds Entice VC investments in Israeli early stage companies: (i) create & invest in new VC funds together with experienced partners (ii) make direct investments in startup companies together with professional investors

Yozma Investment method in Funds: Investment of $8M in each $20M drop-down fund (minority position) 5 years option to buy out Yozma’s share at predetermined conditions Yozma’s CEO / VP was a voting member on each Fund’s investment committee Same terms for all VC Funds

Yozma Results: Established 10 funds together with strategic partners 15 Direct investments Out of the 10 funds 8 have exercised their option 9 exit’s of Yozma’s direct investment portfolio Yozma fund’s size 10 years later: from $210M to $4B The Yozma vehicle was privatize The Israeli VC industry has been established

Israeli VC Arena Local VC Brands Foreign Funds Most of the L.P.’s are foreign

Israeli VC Arena Local Brands Few big general funds (all stages, all tech) Specialized fund (Medical, Internet) Micro funds ($5-25M) (New, due to the fundraising difficulties)

Israeli VC Arena Israel dedicated Funds General allocation from main fund (Strategic / Opportunistic) Corporate funds Super angels, Micro funds Foreign Funds

Israeli VC Eco System Entrepreneurial Culture OCS Accelerators Incubators Army Universities Lawyers/Accounting firms Multinationals

Israeli VC Eco System Multinationals

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