Yozma
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Yozma, Yozma Program, or Yozma Fund was a venture capital organization in Israel that initially started out as a government funded program in 1993 to help kick start venture capital, angel investing, and private equity in Israel's economy. $20 million of government subsidies went to the Yozma Fund, the other $80 million the government provided went to match other foreign and domestic firms, at 40%, to create their own venture capital funds in Israel. The VC companies could buy-back the governments equity stake over a 5 year period, and most did. The Yozma Fund privatized in 1997 and became the Yozma Group.{{Cite web | url=https://kenney.faculty.ucdavis.edu/wp-content/uploads/sites/332/2019/12/IJIRD070303-KLINGLER-VIDRA.pdf | title=Policies for financing entrepreneurship through venture capital: learning from the successes of Israel and Taiwan | website=kenney.faculty.ucdavis.edu}}
Background
{{See also|Israel Innovation Authority}}
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Inbal is a government owned insurance company that underwrote and guaranteed up to 70% of losses for venture capital firms from 1992-1998. The Israeli Government helped start and fund business incubators and an R&D cluster during the 1990s. Many immigrants came to Israel during the fall of the soviet union in the 1990s post-Soviet aliyah and about ⅓ of them were skilled enigineers and scientists.{{Cite web|url=https://www.forbes.com/sites/davidyin/2017/01/09/what-makes-israels-innovation-ecosystem-so-successful/|title=What Makes Israel's Innovation Ecosystem So Successful|first=David|last=Yin|website=Forbes}}
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Yozma funds
| class="wikitable sortable"
|+ Yozma Initial Funds{{Cite web|url=https://www.researchgate.net/publication/228921726_VC_Policy_Yozma_Program_15-Years_perspective|title=(PDF) VC Policy: Yozma Program 15-Years perspective}} |
| Name
! Est. ! Capital ! Foreign LP ! LP Country ! Portfolio ! Exits ! Exit Rate |
|---|
| style="background-color:#f2f2f2;" |Eurofund
| 1994 | $20M | Daimler-Benz, DEG | Germany | 14 | 7 | 50% |
| style="background-color:#f2f2f2;" |Gemini
| 1993 | $36M | Advent Venture Partners | USA | 25 | 13 | 52% |
| style="background-color:#f2f2f2;" |Inventech
| 1993 | $20M | Van Leer Group | Netherlands | 33 | 16 | 48% |
| style="background-color:#f2f2f2;" |Jerusalem Venture Partners
| 1993 | $20M | Oxton | USA | 12 | 10 | 83% |
| style="background-color:#f2f2f2;" |Medica
| 1995 | $15M | MVP | USA | 10 | 5 | 50% |
| style="background-color:#f2f2f2;" |Nitzanim
| 1994 | $20M | AVX, Kyocera | Japan, Japan | 13 | 7 | 54% |
| style="background-color:#f2f2f2;" |Polaris (Pitango)
| 1993 | $20M | CMS | USA | 19 | 13 | 68% |
| style="background-color:#f2f2f2;" |Star
| 1993 | $20M | TVM, Siemens | Germany | 27 | 15 | 56% |
| style="background-color:#f2f2f2;" |Vertex Holdings
| 1996 | $39M | Vertex Int., Singapore tech | USA, Singapore | 29 | 16 | 55% |
| style="background-color:#f2f2f2;" |Walden
| 1993 | $33M | USA | 21 | 10 | 48% |
| style="background-color:#f2f2f2;" |Yozma
| 1993 | $20M | None | Israel | 16 | 10 | 63% |
| style="background-color:#d9edf7;" | Total
| style="background-color:#d9edf7;" | | style="background-color:#d9edf7;" |$263M | style="background-color:#d9edf7;" | | style="background-color:#d9edf7;" | | style="background-color:#d9edf7;" |217 | style="background-color:#d9edf7;" |122 | style="background-color:#d9edf7;" |56% |
Yozma 2.0
In 2024, the Israel Innovation Authority has launched a Yozma 2.0 with government funds of $155 million, looking to raise $700 million from private institutional venture capital investors, at a 30% match.{{Cite web|url=https://en.globes.co.il/en/article-israeli-govt-launches-155m-yozma-20-vc-fund-1001485714|title=Israeli gov’t launches $155m Yozma 2.0 VC fund|date=January 8, 2024|via=Globes}}{{Cite web|url=https://www.calcalistech.com/ctechnews/article/hkncrizza|title=Israel Innovation Authority launches new fund to catalyze $700 million investment in Israeli VCs|date=April 21, 2024|website=ctech}}
Hebrew translation
See also
- Genesis Partners
- Infinity Group
- List of Israeli inventions and discoveries
- List of venture capital firms
- Economic dynamism
- Economy of Israel
- Start-up Nation
- Science and technology in Israel
- CPP Investments - Canadian Pension Plan
- Venture Capital Action Plan - Canada
- Baltimore Development Corporation
- Texas Emerging Technology Fund
- Investment banking
- Public–private partnership
- Silicon Wadi
References
{{Reflist}}
- [https://www.oecd-ilibrary.org/docserver/585780028400.pdf?expires=1732470516&id=id&accname=guest&checksum=DFC6D150226EBC576C0C5B98FEF8432B Venture Capital Policies in Israel]
Category:Science and technology in Israel