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Israeli High-Tech Raises Record $11.9 Billion in First Half of 2021
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by Reuters and Algemeiner Staff
A man enters the Tel Aviv Stock Exchange, Jan. 29, 2017. Photo: Reuters / Baz Ratner.
Israeli high-tech companies raised a record $11.9 billion in the first half of 2021, with an unprecedented number of firms going public, the IVC Research Center and Meitar law firm said in a report on Wednesday.
Investment in the first six months of the year, which focused on cybersecurity and fintech, surpassed the $10.3 billion raised in all of 2020, according to the report. Half of the funds raised came from 38 deals that were each more than $100 million.
In the January-June period, 48 Israeli high-tech companies completed an initial public offering, the report said. Most IPOs were in Tel Aviv, though higher valuations were in the United States.
“These companies, especially those that went public in the US, completed their IPO at very high valuations, and most raised their valuation following the IPO,” said Mike Rimon, a partner at Meitar. “We anticipate this trend to continue in the near future, albeit possibly more moderately than in the first half of 2021.”
Rimon added that mergers and acquisitions in the first half of 2021 amounted to about $4 billion, a rate similar to 2020.
