JVP most active Israeli VC

The Israeli Venture Capital Research Centre has released its compilation of 2004’s most active Israeli venture capital funds. JVP tops the list of most active funds based on first investments with nine first investments (compared to two in 2003). Closely trailing are Vertex with eight first investments (compared to six in 2003) and Giza with seven first investments (compared to five in 2003).

Data are based on the IVC Online Database and information received directly from the VC funds. The report relates to investments in Israeli and Israel-related companies made by funds with a minimum of $30m under management.

IVC also ranked the cumulative number of First investments made by funds since the beginning of 2002. This is led by Giza with a total of 18 first investments. A close second is Vertex with 17 first investments, followed by Pitango (14), Evergreen (13) and Cedar (13).

Zeev Holtzman, chairman of IVC Research Center and Giza Venture Capital, said: “First time investments made by funds are important in light of the fact that the average time-to-exit is five to six years. Accordingly, recent investments will only bear fruit years from now. Venture capital investments are a marathon: the true results will be revealed in time”

Pitango comes top of the list of top 10 funds ranked by total number of investments (first and follow-on) in 2004. Pitango has now made the most total investments for the third year in a row. Pitango made 36 investments in 2004, compared to 18 in 2003. Next on the list is JVP with 20 investments, compared to 10 in 2003. Following closely are Giza, Gemini and Star with 17 investments each, Infinity with 16 and Evergreen with 15. All of these funds exceeded their 2003 numbers.