the israeli tech review q1 2021...highlights | q1/2021 - $5.374b invested in 172 israeli tech deals...
TRANSCRIPT
THE ISRAELI TECH REVIEW Q1 2021Presented by IVC Research Center and Meitar Law Offices
April 2021
*Data updated as of April 12, 2021
Highlights | Q1/2021
- $5.374b invested in 172 Israeli tech deals in Q1/2021, yet another strong quarter for the Israeli tech from allaspects
- 20 deals exceeded $100m each, accounting for 55% of the total raised in Q1/2021
- The overall VCs share, 78% of all deals, is the highest in a decade. However, Non-VCs investors, like privateinvestors, preferred to shy away this quarter, suggesting that valuations are too high
- While Q1/2021 numbers are impressive, the exponential growth in dollar amounts is highly correlated withNasdaq Indexes valuations. These have suffered lately from a change in investor sentiment which implies thatIsraeli tech financing activity might underperform at Q2/Q3
- Israeli TASE was the main platform for liquidation, with 19 IPOs out of 21 in Q1/2021 (including one SPAC dealon LSE)
- The M&A activity in Q1/2021 returned to pre-pandemic levels
ISRAELI TECH INVESTMENTS Q1/2021
3
Israeli High-Tech Investments | Q1/2015 – Q1/2021
3.0 3.0 2.0 4.0 2.7 3.55.0
3.53.4
5.06.0
4.0 4.05.1 4.5 3.9
7.05.0
4.8 5.1
5.6 5.07.0
5.0
10.3
9.48.4
8.2
7.9
9.811.1
9.5
9.28.8
10.0
13.3
10.09.2 12.1
13.9
10.8
13.4
16.1
15.1
17.4
20.1
14.217.2
16.4
31.2
Q1
/15
Q2
/15
Q3
/15
Q4
/15
Q1
/16
Q2
/16
Q3
/16
Q4
/16
Q1
/17
Q2
/17
Q3
/17
Q4
/17
Q1
/18
Q2
/18
Q3
/18
Q4
/18
Q1
/19
Q2
/19
Q3
/19
Q4
/19
Q1
/20
Q2
/20
Q3
/20
Q4
/20
Q1
/21
Median $m Average $m
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97
9
82
8
67
8 94
9
1,1
03
1,4
81
1,0
69
65
1 95
3
98
0 1,3
94
1,2
06
1,0
42 1,5
41
1,5
40
1,7
58
1,4
88 2,0
02
2,1
07
2,2
13 2,6
51
2,1
81
2,5
67
2,8
39
5,3
74
10
4
99
83 12
0
11
3
13
3
11
3
71 10
8
98 10
5
12
1
11
3
12
7
11
1
16
3
11
1
12
4
14
0
12
7
13
2
15
4
14
9
17
3
17
2
20
15
Q1
20
15
Q2
20
15
Q3
20
15
Q4
20
16
Q1
20
16
Q2
20
16
Q3
20
16
Q4
20
17
Q1
20
17
Q2
20
17
Q3
20
17
Q4
20
18
Q1
20
18
Q2
20
18
Q3
20
18
Q4
20
19
Q1
20
19
Q2
20
19
Q3
20
19
Q4
20
20
Q1
20
20
Q2
20
20
Q3
20
20
Q4
20
21
Q1
Total $m # of Deals
Israeli High-Tech Investments: Average vs. Median Q1/2015-Q1/2021 Israeli High-Tech Investments Q1/2015-Q1/2021
4
Capital raising peaked in Q1/2021, with the quarterly amount soaring to $5.37 billion, 89% higher than Q4/2020 and doubling Q1/2020 amounts. This was mostly due to the 20 deals of over $100 million each, that accounted for 55% of the total quarterly amount.
Both average and median reflect this uptrend, reaching exceptional levels, signaling that a major part of the capital flow went to relatively few capital-intensive deals.
Source: IVC-Meitar The Israeli Tech Review Q1/2021
Early Rounds Investments | Q1/2015-Q1/2021
15
9 2
95
19
9
25
1
27
8 38
4
40
0
15
6
18
2 29
3
27
4
28
3 4
31
27
0 35
2
61
1
50
8
45
1
39
0 47
3
34
4 41
7
44
1
65
2 71
3
58
64
56
70
74
91
74
48
67
58
62
80
73
70
64 11
7
69
77
91
81
70
91
79
10
7
76
1 1.1
1.5 1.81.35
22.6
1.9
1.25
3
2.25
2.4
3.2
2
3
2.1
4
2.5
1.6
3.5
2.25
1.5
3
2.1
4.15
Q1
/15
Q2
/15
Q3
/15
Q4
/15
Q1
/16
Q2
/16
Q3
/16
Q4
/16
Q1
/17
Q2
/17
Q3
/17
Q4
/17
Q1
/18
Q2
/18
Q3
/18
Q4
/18
Q1
/19
Q2
/19
Q3
/19
Q4
/19
Q1
/20
Q2
/20
Q3
/20
Q4
/20
Q1
/21
Deal Value ($m) # of Deals Median Investment ($m)
Quarterly Early Rounds Totals: Values, Numbers and Median
5
Early Round Investments (Seed + A Rounds) deal-making kept an average pace, while the capital investment volume continued to climb. The high level of investment’s amounts in Q1/2021 were more than double the average amounts between 2015 – 2020 for both Seed and A Round deals.
Seed deals median increased sharply to $1.85 million per quarter leveraged by the steep increase in VCs activity during Q1 2021.
Seed Deals: Amounts, Numbers and Median
63
40
39
93
62
57
81
62
38
59
40
93
10
1
36 34
22
55
2834 36
40
29
46
27
48
30
0
10
20
30
40
50
60
-
20
40
60
80
100
120
Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21
Seed Rounds $m # of Seed Deals
0.83 0.85
1.131 1 0.9
1.180.95
0.5
0.12
0.6
1
1.85
0.0 0
0.2 0
0.4 0
0.6 0
0.8 0
1.0 0
1.2 0
1.4 0
1.6 0
1.8 0
2.0 0
2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
2020Q1
2020Q2
2020Q3
2020Q4
2021Q1
Seed Median $m
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313 316 256 206 227 245 252 169 243 284 418 289 298 548 338 537 361 384 402 494 525 635 775472
1,123176 109 218 233 220 256 177 125
309 120 121 347 118
454323 218 448 388 627 585 502
585 356438
1,360
331 107 5 259 379597
240 200219 284
582 288195
269527 392 171
778688 662
1,280545 996 1,278
2,178
Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21
B Round C Round Later Round
2318
1521
1518 17
1117
22 23 23 24
37
17
2418
24 22 2428
3241
27
35
118 10
17 139
13
6 115 8 9
58 13
7
1611
14 1215 15 15 15
27
12 9
2
12 11
15
96
13 13 129 11 12 17
15
8
12
13 10
19 16 14 24
34
Q1
/15
Q2
/15
Q3
/15
Q4
/15
Q1
/16
Q2
/16
Q3
/16
Q4
/16
Q1
/17
Q2
/17
Q3
/17
Q4
/17
Q1
/18
Q2
/18
Q3
/18
Q4
/18
Q1
/19
Q2
/19
Q3
/19
Q4
/19
Q1
/20
Q2
/20
Q3
/20
Q4
/20
Q1
/21
B Round C Round Later Round
Investments by Rounds | Q1/2015 – Q1/2021
Investments in Mid - Later Rounds $m Q1/2015-Q1/2021
# of Deals in Mid - Later Rounds Q1/2015-Q1/2021
6
In Q1/2021, Mid and Laterrounds surpassed all previousquarterly result doubling incapital volume from the previousquarter.
In total, more Later rounds weremade this quarter, likewiseamounting to twice the previouslargest quarterly sum.
Source: IVC-Meitar The Israeli Tech Review Q1/2021
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Largest Deals | Q1/2015 – Q1/20211
17
15
0
11
9 40
0
10
0
25
0
27
0
10
0
30
0
12
5
11
5
24
2 6
80
74
1
95
7 1,1
96
34
7 7
50
99
8
2,9
57
11 1
21 1
21 1 1 1 2
45
7
6
34
7
20
Q1
/15
Q2
/15
Q3
/15
Q4
/15
Q1
/16
Q2
/16
Q3
/16
Q4
/16
Q1
/17
Q2
/17
Q3
/17
Q4
/17
Q1
/18
Q2
/18
Q3
/18
Q4
/18
Q1
/19
Q2
/19
Q3
/19
Q4
/19
Q1
/20
Q2
/20
Q3
/20
Q4
/20
Q1
/21
Capital $m >$100m # of Deals >$100m
24
7
24
0
16
9
11
9
22
2 50
0
15
0
19
2
31
1
10
0 5
08
41
6
15
0 6
20
61
3
43
0
40
7
96
9
1,1
67
1,3
76
1,5
55
80
0 1,0
72
1,4
81
3,9
84
3 2 2 2 3 4 3 35 1 5 4 2
6
9
6 5
9
12 13 1210 9
15
36
Q1
/15
Q2
/15
Q3
/15
Q4
/15
Q1
/16
Q2
/16
Q3
/16
Q4
/16
Q1
/17
Q2
/17
Q3
/17
Q4
/17
Q1
/18
Q2
/18
Q3
/18
Q4
/18
Q1
/19
Q2
/19
Q3
/19
Q4
/19
Q1
/20
Q2
/20
Q3
/20
Q4
/20
Q1
/21
Capital $m >$50m # of Deals >$50m
Capital raised in mega deals (over $100m) nearly tripled from the last peak and composed 55% of total capital volume invested in Q1/2021.The number of deals over $50m more than doubled from the previous quarter.
Deals Over $50m | Q1/2015-Q1/2021Deals Over $100m | Q1/2015-Q1/2021
7
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0
20
40
60
80
100
120
140
160
180
02/01/2015 02/01/2016 02/01/2017 02/01/2018 02/01/2019 02/01/2020 02/01/2021
-
1,000
2,000
3,000
4,000
5,000
6,000
20
15
Q1
20
15
Q2
20
15
Q3
20
15
Q4
20
16
Q1
20
16
Q2
20
16
Q3
20
16
Q4
20
17
Q1
20
17
Q2
20
17
Q3
20
17
Q4
20
18
Q1
20
18
Q2
20
18
Q3
20
18
Q4
20
19
Q1
20
19
Q2
20
19
Q3
20
19
Q4
20
20
Q1
20
20
Q2
20
20
Q3
20
20
Q4
20
21
Q1
Is it time for a correction in the Israeli Tech financials?
The investments pattern in high growth companies in Wall St. (especially in the Nasdaq indexes) is highly correlated with the investment amounts trend in the Israeli high-tech. ARK Innovation ETF of Cathie Wood’s ARK Invest, invests in some of the high-flying names like: Tesla, Square, Roku, Zoom and Spotify, and became a symbol of the current public tech investment.
Lately, the sentiment in Wall St. has changed and some of the high growth names went through a rapid correction, losing 30%–40% of their value and raising the inevitable question: have publicly traded tech companies' valuations in bubble territory?
History suggests caution when opining about tech bubbles. Yet some sort of a correction is already in place (see the red circle). Considering the high correlation with the Israeli tech investments patterns, there is a high probability – at least in the short run (Q2/Q3) - that the record amounts we saw in Q1 won’t be matched.
Israeli Tech Investments $m Q1/2015 - Q1/2021
Cathie Wood's ARK Innovation ETF Valuation 2015 - 2021
Source: IVC-Meitar The Israeli Tech Review Q1/2021
Source: Yahoo Finance
VC-backed deals continued their growth trend, accounting for 78% of all deals in Q1/2021. These deals contributed 96% of the total capital invested in the quarter. While the participation of VCs is growing, non-VC-backed deals share, continue to decline as a percentage of the overall investors and sank to 22%, the lowest share in a decade, and probably another sign of the ever-increasing valuations.
VC-Backed Deals | Q1/2015 – Q1/20218
67
36
7
57
1
85
5
78
1
99
9
81
8
43
9 75
7
82
5 1,2
16
74
4
86
3
87
8 1,3
21
1,4
66
1,3
49 1,7
43
1,7
21
1,9
92 2,4
46
1,9
12
2,1
72
2,4
87
5,1
76
6356 55
83
66
89
68
44
60
71 7265
75 74 74
100
7281 84 84 84
93
103108
134
0
20
40
60
80
100
120
140
160
Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21
Total VC-Backed $m # of VC-Backed Deals
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VC-Backed Deals Q1/2015 – Q1/2021
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*Deals where at least one VC fund (Israeli or Foreign) was involved
Companies in growth stages saw a generous capital intake in Q1/2021, more than double the volume of previous quarters.Early stages figures showed modest results and a slight decrease compared to quarterly averages of the last five years.
Investments by Stages | Q1/2015 – Q1/20213
64
15
4
21
1
25
8
37
5
41
7
27
2
16
9
20
6
28
8
35
6
25
3
32
5
30
0
23
9
60
3
29
5
31
3
26
6
41
3
46
1
38
5
38
1
44
7
29
4
61
6
67
4
46
7
69
1
72
8
1,0
64
79
7
48
2
74
7
69
2
1,0
38
95
3
71
7
1,2
41
1,3
00
1,1
55
1,1
93
1,6
88
1,8
41
1,8
00
2,1
89
1,7
96
2,1
87
2,3
91
5,0
80
67
56 58
65
73
84
57
41
62
46
56
65 62
61
48
96
49
64 68
63
55 72
63
80
56
37 43
25
55
40
49
56
30
46 52
49
56 51
66 63
67 62
60
72
64
77
82 86
93
116
Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21
Early Stage $m Growth Stage $m # of Deals in Early Stage # of Deals in Growth Stage
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Early Stage: Seed & R&D CompaniesGrowth Stage: Companies with revenues
Investments by Stage Q1/2015-Q1/2021
10
Top 11 Investments | Q1 2021
11
IT & Enterprise SoftwareSecurity
$175m$208m
$130m$135m
Security
$250m
IT & Enterprise SoftwareBusiness Analytics
$300m
Enterprise Apps Mobile Infrastructure
Communications
SecurityIT & Enterprise Software
$210m
IT & Enterprise SoftwareSecurity
$133m $132m
IT & Enterprise Software Life SciencesDigital HealthSecurity
$130m
E-CommerceIT & Enterprise Software Internet
IT & Enterprise Software
Source: IVC-Meitar The Israeli Tech Review Q1/2021
Enterprise AppsIT & Enterprise Software
$167.5m
20companies raised
$2.96B
All VC-backed deals
each deal
over $100m.
The amounts raised by Cyber Security and Fintech companies peaked in the first quarter of 2021. A last-minute investment of $250m in NextInsurance added to the Fintech vertical capital volume, capturing 21% share out of the total.The Cyber cluster itself, captured 27% of the total volumes, most of them deriving from the larger deals in the quarter.
Investments in Selected Verticals | Q1/2015 – Q1/2021
84 28 53 193 271 190 206
16230 240
101 213 204376 251 235 215
607 489 411619 517 528
1,038
1,413
86 99 232 48
142 201 86184
198 8766
204 284105 290
132 136
412 543 751
28442 478
531
1,176
40 2 11
62 1
7
1258
11
2632 22
142
93 26
78177 39
11
174 70
132
132
62 62 65 146
144 117 272
185
275158
129
178187 263
199
278229
380 146 194
438
279203
596
421
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
2020Q1
2020Q2
2020Q3
2020Q4
2021Q1
Cyber Security FinTech FoodTech IoT
Investments by Verticals $m | Q1/2015-Q1/2021
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Investments By Selected Verticals | Q1/2015 – Q1/2021
11
7 7
17
15
17
17
2
1515
9
13
19
23
14
22
19
23
14
21
17
25
23
29
20
1213
13
13
18
17
11
9
24
4
9
1417
16
12
18
13
16
17
13
7
19
14
26
19
1
43 3
0
8
1
3
6
7
56 6
7 6
9
3
6
9 97
11
8
15
1311
15
8
1615
18
24
11
11
20
14
28
17 2119
27
22
18
15
14
19
17
20
23
18
Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21
Cyber Security FinTech FoodTech IoT
# of Deals by Verticals | Q1/2015-Q1/2021
Source: IVC-Meitar The Israeli Tech Review Q1/2021
13
The number of deals in Cyber and Fintech contributed, on average, 25% of the overall number of deals in the last five years. Q1/2021 providesstrong evidence of the bias in Israeli tech scene toward Cyber and Fintech companies.
Israeli vs. Foreign Investments | Q1/2015 – Q1/2021
288331
346 343369
439 424 424
594
324 338
299266
305
403 397420 403
2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q10
100
200
300
400
500
600
700
# of Foreign Investments # of Israeli Investments
Source: IVC-Meitar The Israeli Tech Review Q1/2021
Israeli vs. Foreign Investments Q1/2019 – Q1/2021
14
The analysis of number of investments coming from Israeli and foreign investors involved in Israeli tech demonstrated that foreign investors havekept a stable course of activity, increasing their investments gradually over the last years. Q1/2021 saw a sharp rise in investments from foreigninvestors, which reflects the increase in capital intake.
ISRAELI TECH EXITS Q1/2021
15
Israeli High-Tech M&As | Q1/2015 – Q1/2021
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45102761
7591721
705 1229 284 11332070
1350
3200
2250 10001600
7400
47
30
3437
3229
17
3133
0
5
10
15
20
25
30
35
40
45
50
0
2000
4000
6000
8000
10000
12000
14000
2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1
M&As < $1$B M&As > $1B <$5B M&As Over $5b # of M&As
Israeli High-Tech M&As Q1/2019-Q1/2021
* Including M&As & Buyouts
Total M&As value in Q1/2021 surpassed $2 billion.The 33 M&A transactions this quarter support the return to normality after the slowdown in M&A activity during 2020.
ISRAELI TECH IN CAPITAL MARKETS Q1/2021
17
Israeli High-Tech Public Companies Offerings | Q1/2019 – Q1/2021
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eli T
ech
Rev
iew
Q1
/20
21
* Including: IPOs, Follow-ons (including registered direct), PIPEs, equity and debt
Israeli High-Tech Public Activity Q1/2015-Q1/2021
18
1%
83%
16%
LSE NASDAQ TASE
Israeli Initial Public Offerings $m Q1/2021
The public market continued with the same level of activity as H2/2020 In Q1/2021. IVC recorded 21 IPOs, most of them (19) in TASE. However, the ‘big money’ derived from Wall St. with Playtika’s IPO (3rd Exit) on NASDAQ amounting to $2.16b. While many companies prepared to register in SPAC deals, just one was executed in Q1: Kanabo Group which listed on the London Stock Exchange (LSE) after a reverse merger with the SPAC Spinnaker Opportunities.
Sou
rce:
IVC
-Mei
tar
The
Isra
eli T
ech
Rev
iew
Q1/
2021
274 488103
663386
691
1,9382,388
1,917
9223
95
98132
1,043436
2,598
1719
10
13
27
32
24
32
25
13 4
1
3
6
10
21
2019 Q1 2019 Q2 2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1
$ Follow-on Public Offerings $ IPOs # of Follow-on Public Offerings # IPOs
Methodology – General
• This report contains information derived from the IVC-Online Database. Deal numbers and values may vary across our reports due to continuous updates of historical numbers inthe IVC database.
• This report summarizes activities of Israeli and Israel-related high-tech companies between 2015-Q1/2021. "Israel-related" refers to a company which is not incorporated in Israelbut has senior Israeli management
• Up-to-date information is available to IVC Industry Analytics subscribers.
• The report is based on data last updated on March 31st.
Methodology – Investments
• This report reviews capital raised by Israeli tech companies from Israeli and foreign venture capital funds as well as other investors, such as investment companies, corporate investors,incubators and angels.
• Reported data presents the investments activity IVC collects from reliable media sources, and direct reports gathered by IVC’s information specialists team. In order to compare the data toprevious periods, the data in IVC’s database are normalized to include only the known published data for each quarter or year.
• Projected data covers the gap in knowledge about Seed companies' activity. Since most of the information about Seed companies comes to light 12 to 24 months after the closing took place, theprojected data shows the reported data multiplied by a constant (factor) that helps to understand the real impact of activity in Seed companies over the long run. READ MORE HERE
• The report is based on data from 712 investors of which 102 were Israeli VC funds and 609 were other entities.
• The term Early Stage companies refers to high-tech companies in the process of development and not yet offering products to the market.
• The report covered total investments in the Israeli venture capital sector, including both VC-backed rounds where at least one investor participating in the round was a VC fund, as well as dealsnot backed by venture capital funds.
• The report includes amounts received by each company directly, including direct transactions performed between company shareholders.
• Most companies fall within more than one technology cluster, therefore the data regarding tech clusters should be viewed separately per cluster.
19
Methodology – Exits
• Our Exit Report historically referred to “Exits” as including M&A, Buyouts and IPO. This report is now dedicating a separate chapter for IPOs, as part of the Public Capital Marketactivity.
• The report summarizes M&As of Israeli and Israel-related high-tech companies in merger & acquisition deals, as well as buyouts performed by private equity and financialinvestors in Israeli and Israel related high-tech companies between 2015-Q1/2021.
Methodology – Capital Markets
• Deal numbers and proceeds are extracted from public records.
• Registered direct deals and Follow-On Deals are bundled together.
• Primary transactions (both IPOs and follow-ons) include any secondary offerings consummated therewith.
• PIPE deals are analyzed as part of public Israeli high-tech companies’ capital markets activity section
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ABOUT
21
http://meitar.com/
Meitar Law Offices is Israel’s leading internationallaw firm and the undisputed leader in thetechnology sector. The firm's Technology Groupnumbers over 120 seasoned professionals whospecialize in representing technology companies,cooperating with attorneys from complementarypractice areas, such as taxation, intellectualproperty and labor law, and dozens of attorneysfrom other practice areas.
Meitar has played a significant role in the majorityof the largest and most prominent transactionsrecorded in the Israeli technology sector,including mergers and acquisitions and publicofferings on foreign stock exchanges.
The firm is uniquely qualified to work withcompanies throughout their entire corporate “lifecycle”. The firm advises clients from their initialestablishment through raising seed capital tosuccessful exit.
Alongside emerging companies, Meitarrepresents high growth companies, and hasrepresented the majority of the Israeli technologycompanies that have carried out initial publicofferings in the US, as well as a diverse range ofmultinational companies from the US, China andEurope.
The firm represents most of the major venturecapital funds active in the Israeli technology
sector, and played an active role in formation ofsome of the most successful and well-knownfunds in the industry.
Meitar is unique among Israel’s largest law firmsin the number of partners who have worked formajor international law firms in the US andelsewhere. The firm maintains close workingrelationships with leading firms from around theworld to provide our international and Israeliclients with the highest level of service andquality – in line with the finest law firms fromacross the globe.
ABOUT
Founded in 1997, IVC Research Center is theleading data source and business informationcompany in Israel's high-tech industry.
We help our clients understand the market, makeconnections and identify opportunities withaccess to the latest news, trends anddevelopments.
From venture capital and private equity funds to
industry leading companies and emergingstartups across Israel's varied high-tech sectors,we cater to the varied business informationneeds that make up the Israeli high-techecosystem. We bring more than 20 years ofexperience of gathering and analyzing data,serving the IVC community. Our dedicated teamof industry researchers and analysts has deepknowledge and hands-on experience workingwith Israel’s high-tech sector.
Our management, professional sales andmarketing teams drive IVC’s commitment toexcellence and client service. We enable a widerange of local and global clients, includingentrepreneurs, local and foreign investors of alltypes and service providers such as lawyers andaccountants, to get to know the Israeli high-techecosystem better.(Registered Database #366723)www.ivc-online.com
22
CONTACT US
Lian SwirskyHead of Marketing and Business Development
Meitar Law Offices
www.meitar.com
+972-(0)3-610-3100
23
THE AUTHORS
Itay Frishman Partner, Meitar | Law Offices [email protected]
Mike Rimon Partner, Meitar | Law Offices [email protected]
Shira Azran, Partner, Meitar | Law Offices [email protected]
Marianna ShapiraResearch Director, [email protected]
Marianna ShapiraResearch Directordd
IVC Research Center
www.ivc-online.com
+972-(0)73-212-2339
C O P Y R I G H T S
2020
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The information contained in this report is derived from IVC-Online -the IVC Research Center Ltd. ("IVC") Database.
This report is copyrighted, no part of the material in this report(including, but not limited to text, content, and images) may bereproduced, republished or utilized in any form or by any meanswithout the explicit and prior written consent of IVC.