A joint study by Ernst & Young and VentureOne states that Israel ranked third worldwide venture capital investment in the first quarter of 2006, amounting to $437 million. California and New England in the US outranked Israel.
The study says that venture capital investment in the first quarter in both Israel and the US was higher than in all corresponding quarters since 2001. Venture capital investment in the US exceeded $6 billion in 564 transactions in the first quarter, 18% more than in the first quarter of 2005. Venture capital investment in Israel was 30% higher in the first quarter than in the corresponding quarter of last year.
Most venture capital investment in the US was in IT - $3.36 billion. In Israel, 43 investments amounting to $264 million were made in IT in the first quarter, 51% more than in the corresponding quarter of 2005. In the US, 17 investments amounting to $154 million were made in healthcare in the first quarter, 31% more than in the corresponding quarter of last year.
The study says the largest single venture capital investment in Israel in the first quarter was $23 million in Netanya-based Siano Mobile Silicon Ltd., a developer of processors for mobile television broadcasts. The largest single venture capital investment in the US in the first quarter was $150 million in Los Angeles-based Amp’d Mobile Inc.
Ernst & Young Israel partner Yoram Tietz said, “The maturity of Israel’s high-tech industry positions it in third place worldwide, after the US and Canada.”
Published by Globes [online], Israel business news - www.globes.co.il - on April 24, 2006
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006