IVC: Hi-tech companies hit 5-year low

According to the research center there was a 15% drop from the previous quarter and a 12% drop from the first quarter of 2009
 
Israel Venture Capital (IVC) Research Center said last week that Hi-tech companies in Israel have hit the lowest financial point in five years.
 
IVC Research Center is Israel's leading research center specializing in analyzing and monitoring Israel's high-tech industry. IVC's publications provide insights on venture capital, private equity and high-tech companies.
 
The center's report on the first quarter of 2010 has found that companies succeeded in raising just US$234 million in Israeli and foreign venture capital, a 15% drop from the previous quarter and a 12% drop from the first quarter of 2009.
 
IVC also noted that Investments by Israeli funds are at a 10-year low, rating just $78 million last quarter, a 26% drop from 2009.