2024-04-21 21:16:20
The Israel Innovation Authority and the Israeli Ministry of Finance announced the launch of the Yozma Fund 2.0 program.
This was reported by the Telegram channel “Today in Israel”.
This is a new initiative that aims to encourage institutional investment in Israeli venture capital funds that support local companies.
Note that venture funds are organizations that invest in startups and young companies with high growth potential. They provide funding and expert support to help entrepreneurs develop their business ideas. Venture capital funds often invest in innovative projects that have the potential to generate high returns in the future, but also carry significant risk.
The program’s budget is estimated at approximately $160 million in government funds, which will be used to attract at least $700 million in investment from institutional investors.
The fund targets institutional investors such as insurance companies, pension funds and savings funds, providing them with a special mechanism to increase the returns on their investments in Israeli venture capital funds over the next 20 months.
The program strategy assumes that there will be no direct intervention from the Office of Innovation, which will not influence the investment decisions of institutions or venture capital fund managers. In other words, we are talking about free investments in accordance with the established investment policy.
“Cursor” previously wrote that the International Monetary Fund (IMF) shared its macroeconomic forecast for the Israeli economy. According to the updated information, the lower limit of the country’s GDP growth this year is estimated at 1.6%, which is below the expectations of the Bank of Israel, which forecast growth at 2%, and also significantly lower than the previous IMF forecast of 3.1%.
2024-04-21 21:16:20