Yozma

Capital raised by year in the venture capital industry in Israel during the 1990’s, ~$8 billion raised total.[1]

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 government's equity stake over a 5-year period, and most did. The Yozma Fund privatized in 1997 and became the Yozma Group.[2]

Background

See also: Israel Innovation Authority
Immigration to Israel[3]
  Total Immigrants
  Immigrants from the USSR and Post-Soviet states

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.[4]

Yozma funds

Yozma Initial Funds[5]
Name Est. Capital Foreign LP LP Country Portfolio Exits Exit Rate
Eurofund 1994 $20M Daimler-Benz, DEG Germany 14 7 50%
Gemini 1993 $36M Advent Venture Partners USA 25 13 52%
Inventech 1993 $20M Van Leer Group Netherlands 33 16 48%
Jerusalem Venture Partners 1993 $20M Oxton USA 12 10 83%
Medica 1995 $15M MVP USA 10 5 50%
Nitzanim 1994 $20M AVX, Kyocera Japan, Japan 13 7 54%
Polaris (Pitango) 1993 $20M CMS USA 19 13 68%
Star 1993 $20M TVM, Siemens Germany 27 15 56%
Vertex Holdings 1996 $39M Vertex Int., Singapore tech USA, Singapore 29 16 55%
Walden 1993 $33M Walden International USA 21 10 48%
Yozma 1993 $20M None Israel 16 10 63%
Total $263M 217 122 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.[6][7]

Hebrew translation

Yozma translates from Hebrew to English as initiative.[8]

See also

References

  1. ^ "Venture capital start-up co-evolution and the emergence & development of Israel's new high tech cluster".
  2. ^ "Policies for financing entrepreneurship through venture capital: learning from the successes of Israel and Taiwan" (PDF). kenney.faculty.ucdavis.edu.
  3. ^ "Total Immigration to Israel from the Former Soviet Union". www.jewishvirtuallibrary.org.
  4. ^ Yin, David. "What Makes Israel's Innovation Ecosystem So Successful". Forbes.
  5. ^ "VC Policy: Yozma Program 15-Years perspective".
  6. ^ "Israeli gov't launches $155m Yozma 2.0 VC fund". Globes. January 8, 2024.
  7. ^ "Israel Innovation Authority launches new fund to catalyze $700 million investment in Israeli VCs". ctech. April 21, 2024.
  8. ^ "Take Some Initiative! - Streetwise Hebrew Ep. 427". TLV1 Podcasts. TLV1. 3 September 2024. Retrieved 15 February 2025.

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