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While the Economy Slows Down in Israel and the World…

According to an IVC (Israel Venture Capital) study, there was a 20% and a 6% decline in Israel’s high tech investments, during the 2nd quarter of 2012 ($453MN), compared with the 2nd quarter of 2011 and the 1st quarter of 2012 respectively. Only 18% were early stage 1st round investments (Globes Business Daily, July 17, 2012).  Most Israeli economic indicators, such as GDP growth, exports, budget deficit, unemployment and tax income reflect the slowdown, although they are better than almost all OECD countries.

However…

1.  According to a study by Deloitte Touche, one of the four leading CPA firms in the world, Israel is the 4th most attractive and most reliable site for overseas investors.  The study was based on interviews with 440 global investment entities, – mostly venture capital – 30% Americans and 2.5% Israelis.  Israel trails the USA, Brazil and China, ahead of India, Canada, Singapore, Taiwan, Australia, England, Germany and Japan (Globes, July 17).

2.  Israel’s FIMI buyout fund closed its 5th fund, raising $850MN, 50% from overseas investors from the USA, China, Japan, Europe and Australia.  Since its establishment in 1996, FIMI raised $1.25BN for its previous four funds, including $510MN for the 4th fund.

3.   eBay is strengthening its operations in Israel, and its chief executive will make his first business visit to the Jewish state in September…. John Donahue will be promoting eBay’s operations in Israel and highlight the character of the joint center in Tel Aviv and Netanya.  eBay invested in Israel seven years ago with the purchase of Israel’s Shopping.com for $634MN.  eBay also bought the gift Israeli project which was launched in September…. Donahue will also visit PayPal Israel, which was established following its acquisition four years ago. ‘Israel is one of the main centers of our industry for technological innovations and talent.  eBay’s investments in Israel have made significant contributions to the overall vision of the company’s trade and payments.  I hope to meet new Israeli companies, strategic partners and our local employees,’ said Donahue. (YourJewishNews.Com, July 5).”

4.  The Sunnyvale-based Finisar, the world’s largest supplier of optical subsystems and components acquired Israel’s Red-C for $43MN.  In 2008, Finisar acquired the American company, Optium, which procured Israel’s KaiLight in 2007 for $40MN (Globes, July 4). 

5.  The Boston-based Battery Ventures invested $30MN in Israel’s Direct Insurance (Globes, July 16).   General Electric ($27.5MN) leads a $31MN round of private placement in Israel’s InSightec, joined by the Atlanta-based Meditech Advisors (Globes, July 10).  The Chicago-based Adam Street Partners, the Manchester-based OnLine Ventures and the San Francisco-based Venture Strategy Partners participated in a $10MN round in Israel’s FiftyOne (July 11).  The Palo-Alto-based Norwest Venture Partners led a $5.5MN round of private placement in Israel’s Seculert (Globes, July 12).  The South Korea-Israel MaC venture capital fund invested $2MN in Israel’s EyeSight (Globes, July 11).




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Straight from the Jerusalem Boardroom #248
https://bit.ly/3u29k9g

Foreign investment in Israel’s high-tech companies surged to new heights in the 1st quarter of 2021 – $5.7bn in 172 deals – which is up 89% over the impressive 4th quarter of 2020 and double the volume of the 1st quarter of 2020.

2020 was the first year of surpassing $10bn in capital raised by the Israeli high-tech sector from investors in the US, Asia and Europe, who trust the maturity of Israel’s brain power. Investments in Israeli companies more than tripled in six years, reflecting the effective response by Israeli startups to the technological, medical, pharmaceutical, educational, social and digital challenges posed by Covid-19.

Israel’s economic performance in defiance of Covid-19 is presented by Dr. Adam Reuter, the Chairman and Founder of “Financial Immunities,” Israel’s largest financial-risk management firm, and the co-author of Israel – Island of Success:

  1. Israel has led the globe in the rapid administration of Covid-19 vaccinations due to effective negotiations with Pfizer and an efficient, country-wide medical infrastructure.
  2. Israel is the second lowest among OECD countries in the number of Covid-19 deaths per number of Covid-19 cases: 0.7% compared to the 2.3% OECD average. Israel features a young population (median age of 30 compared to the OECD’s 42) and an effective country-wide medical infrastructure, including top level HMOs and hospitals.
  3. Israel is ranked 12th from the bottom among the 37 OECD countries in the number of deaths per million inhabitants: 645 compared to 1,145 OECD average.
  4. The International Monetary Fund’s 2025 GDP growth forecast for OECD countries: Israel – 4%, OECD average – 2.2%, US – 1.8%, Australia – 2.5%, Ireland – 2.6%, France and Canada – 1.7%, the UK – 1.6%, Germany – 1.2%, etc.
  5. Israel’s 2020 GDP was reduced by 2.5%, compared to the OECD average reduction of 4.1%, South Korea – 1%, Norway – 0.8%, Australia – 2.6%, US – 3.5%, Japan – 4.8%, Germany – 5%, France – 8%, the UK – 10% reduction, etc. GDP growth was recorded in New Zealand – 2.4% and Ireland – 3.5%.
  6. In 2020, Israel was ranked 20th among the 37 members of the OECD in terms of GDP per capita, featuring $43,000 (GDP – $408bn), ahead of Japan, Italy and Spain, and very close behind the UK ($44,000) and France ($45,000).
  7. Israel’s debt-to-GDP ratio increased from 60% in 2019 to 72% in 2020, compared to the OECD’s average increase from 66% to 82%. The 2020’s debt-to-GDP ratio was 266% in Japan, Italy – 161%, the US – 131%, Germany – 73%, etc.
  8. Israel’s foreign exchange reserves-to-GDP ratio of 41% (3rd among the OECD countries) attests to its financial stability, and Israel’s capability to raise foreign credit promptly in a cost-effective manner. Israel’s foreign exchange reserves in March 2021 – $186bn.
  9. During the past decade, Standard and Poor (S&P) accorded Israel a positive credit rating trend, unlike the negative trend for the G-7 countries. In 2020, notwithstanding Covid-19, Israel’s credit rating (S&P) remained at AA.
  10. Some 380 global high-tech giants operate in Israel, including Microsoft, Amazon, IBM, Intel, Cisco, Apple, Verizon, Applied Materials, Dell, HP, Kodak, Oracle, Philips, SAP, Medtronics, GM, eBay, GE, etc. Israel leads the world in the ratio of research and development investment to GDP: 4.9%. 85% of this investment comes from the business sector.

 




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