Israeli firms raise record $3.9 billion in first half of 2019
Boosted by a prolific second quarter of investments, Israeli hi-tech companies raised a record $3.9 billion in funding during the first half of 2019, according to a financial report published on Wednesday.
Data published by IVC Research Center and international law firm ZAG-S&W revealed that companies raised $2.32b. in 125 deals during the second quarter of 2019 alone, the highest quarterly figure since 2013. In the first quarter of 2019, companies raised $1.55b. across 129 deals.
Funding was boosted by 10 mega-deals, each exceeding $50 million and totaling $1.26b., or 54% of total capital raised in the second quarter. The median deal amount was $5.5m. across 125 deals.
Deals included the $300m. raised by insurance start-up Lemonade, $250m. secured by team management firm Monday, and the $186m. raised by Elbit Systems in a PIPE (private investment in public equity) deal.
“Just when we thought the investment growth in the first quarter of 2019 had broken every record, along comes the second quarter and registers the most significant leap in the total amount raised in the last six years,” said Adv. Shmulik Zysman, managing partner and hi-tech industry leader at ZAG-S&W.
“Indeed, the second quarter of this year recorded the most significant leap ever in the total amount raised – $757m. – compared with the previous quarter, indicating a quarterly record and in accordance record high in H1/2019, unprecedented in recent years.” Read More (JPOST)