April 26, 2017 / 8:52 AM / 3 months ago

Israeli high-tech funding slips 8 pct to $1 bln in Q1

2 Min Read

JERUSALEM, April 26 (Reuters) -

* Israeli high-tech companies raised $1.03 billion in the first quarter of 2017, down 8 percent from the same period in 2016, the IVC Research Center and ZAG law firm said on Wednesday.

* The number of deals fell to 155 from 174 but the average financing round edged up to $6.6 million.

* Early stage funding rounds -- seed and A -- dropped 16 and 31 percent, respectively. Later rounds rose 20 percent.

* Israeli VC funds invested 16 percent, or $162 million, of total capital in Israeli high-tech companies in the first quarter.

* Israeli tech firms raised $4.8 billion in 2016.

* "Venture capital funds, both Israeli and foreign, are shifting their activity focus to investments in later stages – in terms of companies' product development stage, financing stage or capital raising round," said Koby Simana, CEO of IVC Research Center.

* "If there are no investments in early stages and early rounds now, two years down the line there could well be a shortage of promising late stage companies," he said. (Reporting by Steven Scheer)

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