Giza Group founder and chairman Zeev Holtzman: $1.2 billion will be allocated for loans to Israeli venture capital funds in 2003-2006.
Giza Group founder and chairman Zeev Holtzman said today, “Cabinet and Ministry of Finance approval of the second Yozma program will enable Israeli venture capital funds to raise $6 billion directly for investment in start-ups.”
Holtzman added that $1.2 billion would be allocated for loans to Israeli funds holding another financing round in 2003-2006. The economic incentive provided by the plan will enable the funds to raise an additional $2.2 billion from foreign investors.
Holtzman stated that government approval for $200 million was required to get the program started. He was speaking at the Israel Center for Management (MIL) high tech forum.
Published by Globes [online] - www.globes.co.il - on September 16, 2003