Homepage / Technology / Isreal is getting serious about opening up the high-tech market to domestic investors
Les Gambling establishments en Ligne en France 2024 200% Reward + 300 Free Rotates LevelUp Internet casino Melbourne En İyi ve Güvenilir Casino Siteleri Canlı Casino Siteleri 2023 Listesi En İyi ve Güvenilir Casino Siteleri Canlı Casino Siteleri 2023 Listesi Le meilleur casino en ligne franзais Extra Casino avec le dйpфt minimal le in addition bas Yeni Casino Siteleri ᐈ Çevrimiçi Kumarhaneler Mart 2024 Les gambling establishments en ligne proposent une grande variйtй de jeux de internet casino gratuits. Türkiye’deki Resmi Web Sitesi Google Play, Türkiye’de kumar oyunlarına izin verecek Her Gün Tatil Olsa ORDU’DA PAZARTESİ GÜNÜ FINDIK FİYATI NASIL? كازينو اون لاين الكازينوهات الممتازة على الإنترنت ألعاب الكازينو المباشرة مينا كازينو العر Google Play, Türkiye’de kumar oyunlarına izin verecek Domain Sorgulama & Domain Fýrsatlarý Canlı Casino Siteleri: 2024 Güvenilir Siteler Seçilmiştir Golden Easter Slot İncelemesi 2024, Demoyu Ücretsiz Oynayın Golden Easter Slot İncelemesi 2024, Demoyu Ücretsiz Oynayın 1xbet Türkiye Giriş Empieza Kayıt 202 Kumar Ve Kumarhaneler Hakkında Pek İlginç 21 Bilgi Kumarhane Doğru Yazımı Nedir? Tdk Ile Kumarhane Kelimesinin Doğru Yazılışı! Mobilbahiste En İyi Kumar Bonusları Ve Kazançlar Mobilbahis Giriş Sayfası On Line Casino Siteleri En Iyi Casino Siteleri 2024 Mostbet: Türkiye’de Internet Casino Mostbet Online Slotlar Ve Canlı-casin Pin Up Casino Oyna Türkiye, Pinup’un Sah Web Sites Ifade Haberleri Son Dakika Ifade Hakkında Güncel Haber Ve Bilgiler “önceliğimiz Transferin Önünü Açmak, Görüştüğümüz Yerler Var” On Line Casino Nuh’un Gemisi Deluxe Resort & Spa, Kıbrıs Bonus Veren Siteler 3 000 Den Fazla Online Oyunu Ücretsiz Oyna En Tehlikeli Kumar Oyunu Ekşi Sözlük Deneme Bonusu Veren Siteler Deneme Bonusu 2024 Explore the Magic of WildCardCity Güvenilir Bahis Siteleri En İyi Kumar Siteleri Balıkesir Triatlonuna Avrupadan Ödül Tricks of the Aviator gambling establishment game by Spribe Çevrim Içi Kumar Siteleri “bonus” Yalanıyla Kandırıyor En Güvenilir Canlı On Line Casino Siteleri Xbetting-tips Com Uncovering the Abundant Tapestry of Ozwin Gambling establishment Evaluating Board Portal Providers Uncovering the Wealthy Tapestry of Ozwin On line casino Electronic Data Area Providers Evaluation Cobra Internet casino: Raising the Australian On the internet Video gaming Practical experience 4 Things to Search for in Safeguarded Cloud Safe-keeping Fastpay On line casino Australia – Simple and No-Taxation Wagering Web page officielle franзaise de Joka Gambling establishment The Software Development Universe Game Woo Internet casino – Enjoy Slot machine games around australia Ostdeutsche Biersorten What Are Virtual Data Rooms? Vitamin D Receptor Polymorphisms Revue du Casino BlackLabel Faktory, kterй ovlivnujн hodnocenн ceskэch online kasin How to Make the Most of Your Web Development Organization and Advertising Efforts L’essor des casinos en ligne en France Boost Meeting Efficiency With Boardroom Technology Developments WildJoker Casino WildCardCity On line casino – Guaranteed Australian Gambling Portal WildCardCity Casino – The Ideal On the internet Gambling establishment within australia Modern Technologies Produce Sharing Documents Online Faster and More Protect Free Virtual Info Room pertaining to Speedy Due Diligence A Review of Data Area Software For people who do buiness Five Board Bedroom Features Which will help You Acquire a More Productive Boardroom Electronic Systems To your Business Understanding Legal Terms and Laws in Today’s World The Laws and Contracts of Hollywood: A Sunset Blvd. Tale Legal Discussion Between Johnny Cash and Antonin Scalia Legal Insights: What Teens Should Know Legal Issues and Exceptions: What You Need to Know Legal Insights and Expert Analysis Celebrity Dialogue: Legal Matters in the 21st Century Famous Personalities Discuss Legal Issues The Boys in the Boat: Legal Advisors and The Quest for Legal Knowledge Understanding Legal Matters: Q&A on Criminal Law, Joint Ventures, and More Enticing Title The Departed: Understanding Basic Work Requirements and Legal Rights Youth Slang Blog Article Legal Insights: A Journey into the World of Law The Ins and Outs of Legal Matters: Everything You Need to Know Legal Insights and Trends: A Rap Guide Mysterious Legal Matters Unveiled Insights and Information: Understanding Various Laws and Regulations Famous People of the 21st Century The Circle of Legal Life The Intersection of Fashion Law, Legal Translation, and THC Oil: A Modern Legal Guide Legal Q&A: Understanding Joinder Federal Rules and More Understanding Legal Terms and Conditions: A Comprehensive Guide Understanding Legal Documentation in a Fun Way! Understanding Legal Aspects: From Islamic Law of Inheritance to Farm Law Protests Understanding Legal Rights: A Guide to Legal Regulations and Requirements Understanding Legal Guidelines and Agreements Famous 21st Century People in Conversation Mysterious Legal Matters Unveiled Legal Matters and Real Estate: A Conversation Between Cameron Boyce and Donald Trump Understanding Legal Expertise and Why It Matters Legal FAQs and Expert Services Understanding Legal Ramifications: Common Law Ontario Health Benefits and More The Ins and Outs of Legal Requirements: From FBI Academy Physical Requirements to Silver Lake Fishing Rules The Legal Underworld: Understanding the Significance of Laws and Rights Legal Conversations: A Dialogue Between Jon Jones and Chadwick Boseman Legal Beats: Bobcats, Real Estate, Babysitting, and More

Technology

Isreal is getting serious about opening up the high-tech market to domestic investors

Israeli pension funds are expected to get a waiver that will allow them to invest in four new high-tech funds for which the government issued new tenders this week.

The new mutual funds, issued on Sunday and meant for both private and institutional investors, are to be traded on the Tel Aviv Stock Exchange, TASE. They come in response to the high ratio of foreign-to-domestic investment in the country’s burgeoning start-up scene.

“It’s our understanding that the Capital Markets Authority will give waivers for pension funds to invest in these funds even though they charge management fees,” Avi Laor, deputy manager at the mutual funds supervision unit at the Israel Securities Authority (ISA), told CNBC.

Under Israeli regulations, pension funds are not normally allowed to invest in funds that charge management fees, he explained.

The relatively low ratio of domestic Israeli investment in the often lucrative high-tech scene, with some estimates as low as 10 percent, has bothered both the industry and policymakers in recent years. When Intel, for example, bought Israeli autonomous driving start-up Mobileye earlier this year for $15 billion, some of the joy at the country’s high-tech achievement were tempered by the realization that most of the investors profiting from this windfall were foreign and that local institutional investors such as pension funds were not involved.

Pension funds usually will not go through the complex due diligence process for such investments if the amount involved is under $100 million, said Laor. “Those (new) funds are a great solution for that problem. The pension fund can look at this as a fund that puts together a portfolio that is balanced and is run professionally and invest in that.”

Apart from opening up the high-tech and start-up markets to regular Israeli and institutional investors, the funds also aim to keep companies in Israel in the long term by facilitating domestic start-up financing. Right now, said Laor, too many R&D (research and development)-based companies leave.

“At some point they either close or move abroad. So the Israeli market does not benefit from their success,” he said.

The ISA and the Ministry of Finance is aiming for four high-tech funds with a minimum each of 400 million Israeli shekels in investments, currently some $113 million. The government is making a total of 200 million Israeli shekels available in investment guarantees, 50 million Israeli shekels per fund, and another 100 million Israeli shekels per fund in backing for credit. The ISA and the ministry announced on Sunday that they’re looking for managers for the funds.

The funds will need to have a minimum of 30 percent of their assets invested in Israeli start-ups after five years, which can be expanded up to 50 percent. The rest can be invested in traded high-tech firms, with a ceiling of 25 percent on investments abroad. Since the funds themselves will be traded on the TASE, they’re also open to foreign investors but Laor was confident they’d attract Israeli investors foremost.

Several investors in Israel’s start-up scene reacted positively to the new funds. “We don’t view more players as competition, we love more players,” said Jon Medved, CEO of equity crowdfunding platform OurCrowd. “I don’t worry about my piece of the cake, I’m just happy the cake’s getting bigger.”

He said the new funds are an important signal that the government is serious about opening up the high-tech and startup market to domestic investors: “This is just the beginning of what I think will be a series of moves both regulatory and financial, funding, that will ultimately create a safe space for Israeli financial institutions to back in a much more serious way the local startups.”

He pointed at other initiatives such as the launching of a bi-national tech fund with India announced during Prime Minister Narendra Modi’s recent visit, and government support for incubators as positive developments. But in the end, the market would have to be left to its own devices.

“The government has been helpful, I don’t want to overstate it, but I hope it will be prodding the market and then move back, let the private market do its work,” he said.

Yoav Leitersdorf, managing partner at YL Ventures, also welcomed the new funds: “It serves as a signal to Israeli and foreign investors and entrepreneurs, who choose to found start-up companies, that the Israeli government believes local start-ups are positioned to thrive in the long run.”

Yet, he did sound a note of caution over the risk that government guarantees could adversely affect the due diligence process that is so crucial with such high-risk, potentially high-reward investments: “Careful decision making and valuable contribution to startups would be the best way to grow the Israeli high-tech industry,” he wrote in an emailed comment.

Follow CNBC International on Twitter and Facebook.

Source: Tech CNBC
Isreal is getting serious about opening up the high-tech market to domestic investors

Comments are closed.