TLDR:
- Israel Innovation Authority and Ministry of Finance launched Yozma Fund 2.0 with $160 million budget
- Program aims to encourage investments in Israeli venture capital funds
Summary:
The Israel Innovation Authority and Israel’s Ministry of Finance have introduced a new program called the Yozma Fund 2.0, which has a budget of approximately $160 million. This fund is designed to encourage investments in Israeli venture capital funds by institutional entities such as insurance companies, pension funds, and provident funds. The goal is to leverage investments of at least $700 million by institutional investors over the next 20 months. Notably, the Innovation Authority will not intervene in investment decisions, allowing institutions and fund managers to invest according to their established policies.
Gila Gamliel, Ministry of Innovation, Science and Technology, highlighted the significance of this move in increasing the stability of the local venture capital market and expanding funding for early-stage Israeli startup companies. The fund aims to strengthen the Israeli high-tech sector and economy by supporting local high-tech companies, establishing connections between institutions and venture capital funds, and enhancing the market’s stability against global economic fluctuations.
Overall, the Yozma Fund 2.0 seeks to boost investments in Israeli high-tech ventures, foster collaboration between institutions and local venture capital funds, and fortify the local venture capital market against potential macroeconomic challenges.
