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The last few years have seen the establishment of approximately 100 private venture capital companies, with the objective of financing start-up companies in various high-tech areas, the majority of which have their base in software products. The financing for most of these VC companies comes from foreign investors, who are aware of the vast commercial potential and business opportunities inherent in the unique technologies and products designed and manufactured by these new start-up enterprises. The venture capital companies have raised $2 billion over the past three years and have become one of the most important boosters to the software and other high-tech industries of Israel. Of the $1 billion in investments made during 1999, $481 million (44%) went into software houses, mainly Internet related companies. Hundreds of promising new start-ups have been formed by these venture capital companies, which will ensure the continued growth and success of the industry in the new millennium. |
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