January 17, 2018 / 9:50 AM / 6 months ago

Israeli private high-tech firms raised $5.2 bln in 2017

JERUSALEM, Jan 17 (Reuters) - Israeli private high-tech companies raised $5.24 billion in 2017, up 9 percent from 2016, the Israel Venture Capital Research Center and ZAG law firm said on Wednesday in a report.

The amount raised has steadily grown from $2.4 billion in 2013.

The report said the increase last year stemmed from four large deals above $100 million, while the average funding round in 2017 was $8.5 million — up from $3.6 million in 2013.

Israeli venture capital funds accounted for $814 million, or 16 percent, of the 2017 total.

“Investors poured more capital into fewer selected companies, providing portfolio companies the necessary means to mature,” said Marianna Shapira, research director at IVC Research Center, estimating there is about $3 billion in capital available for investment.

Software companies raised the most funds — $1.9 billion — last year, followed by life sciences.

In the fourth quarter, tech firms raised $1.44 billion, up 34 percent from a year earlier. (Reporting by Steven Scheer; Editing by Tova Cohen)

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