Winners and Losers of the Week

This week’s winners is:

Israel-based private equity firm Fortissimo Capital for the closing of its fifth fund with commitments of $650 million.The new fund will invest in mature technology and industrial companies. Read more

Israeli venture capital firm JVP for establishing an international cyber center in New York. The center, located in the city’s SoHo neighborhood, is operated in partnership with the mayor’s office and the Economic Development Corporation of New York. Read more

 

 

This week’s losers are: Israeli residents and foreign tourists

The panic around Coronavirus is already causing huge economic problems all around the globe. Now, Israeli residents and tourists planning to visit China will pay a heavy price - this time concerning their own privacy. The scare prompted Israel to create a database on people entering and exiting the country after authorities ran into trouble collecting data on Chinese citizens expected to enter the country. The government is expected to approve the establishment of an inter-ministerial team headed by the Ministry of Justice, which will work to create the database under the Israel Tax Authority. Read more

This week’s data point: 18%

The number of Israeli startups choosing to incorporate outside the country went up by 10% in 2019, and according to a recent report, almost a fifth of Israeli startups chose to incorporate abroad, mostly in the U.S. The main reason these companies choose to incorporate outside of Israel, according to the report, is that U.S. venture capital funds and other U.S. investors find it easier to invest in companies registered in-country. Read more