They take a deep dive into interest rates, inflation pressures, US vs Europe and more with experts in the space. Then, Host Jeremy Schwartz and Guest Host Kevin Flanagan cover the latest financial conditions. But as of right now, Israel reigns.Show from 4/8/22Wharton Finance Professor Jeremy Siegel talks Fed policy during his market update. If current momentum continues, NY may overtake Israel on the VC-backed exit front. Compared to Israel, NY is a relatively immature market for VC as it’s ascent has really happened quite recently. That is a fair point and holds in this case too. Note: When we issued our brief that Silicon Valley is the only relevant market for tech venture capital, many of our VC customers investing in NY wrote us saying that it wasn’t a fair comparison as NY is a less mature market. Of course, some might argue that this logic would give Massachusetts the right to claim Facebook’s exit given the firm was founded there. If you add in the companies founded in Israel but which ultimately exited after they moved their headquarters to the U.S., Israel looks significantly better. And in 2013, it did get the “ never had a billion dollar exit” monkey off its back.īut at present, Israel continues to be a more robust market from a VC-backed exit perspective than NY. Of course, NY is seen to have several billion-dollar startups in the wings, as well as an influx of tech VC dollars, so its exit environment will be one to monitor moving forward. For example, GetGlue’s acquisition by iTV (5th on the list) was largely viewed as the latest downer for the Social TV market. Contrary to popular belief the crypto market did not collapse. Dive into the other side of the crypto debate here. At Bessemer, we value intellectual honesty and diversity of opinions. But outside of the top 4, NY saw mostly smaller disclosed exits last year. Adam Fisher’s exegesis on why he believes that despite the recent crash, crypto will rise again to the detriment of society. Yahoo’s acquisition of Tumblr was the largest at $1.1B, followed by Tremor Video’s IPO and Stratasys’ acquisition of MakerBot Industries. Hes solid, calm, thoughtful and never overbearing on his founders. Adam is an intelligent, highly analytical thinker with a broad range of experience from B2C to B2B. His portfolio speaks for itself so Ill stick to the personal strengths. (Note: Evogene’s IPO was not listed given its prior IPO on the Tel Aviv stock exchange). Today’s exit for $150 million by Cyvera as well would fall into this camp of Israeli but HQ’d in California.Ĭonversely, New York’s top 5 disclosed venture-backed exits last year saw an aggregate valuation of $2.29B at the time of exit. Review: Adam is the best VC in Israel and is one of BVPs top partners globally. at the time of acquisition despite being founded in Israel. Of note, while notable venture-backed exits including Trusteer, CyOptics, ScaleIO and (all $250M-$900M acquisitions) are hailed as Israel exits, all were headquartered in the U.S. The largest was Google’s acquisition of Waze and the top 3 was rounded out by Wix’s IPO and Cisco’s $475M acquisition of Intucell, which took just $6M from Bessemer Venture Partners (also in Wix) prior to exit. Looking at the largest VC-backed of Israel headquartered exits last year, we see that the top 5 venture-backed exits in Israel netted an aggregate valuation of $2.70B at the time of exit. Here’s what we found with a look at the largest VC-backed exits in each market from last year. Note: 90% of the VC activity in NY is to NYC. Adam received a Bachelor of Science in Foreign Service from Georgetown University, where he majored in economics and international business diplomacy. He focuses on investments in Israel and Europe across multiple technology. From a population perspective, the 2 markets are quite similar – Israel has 7.908 million people and NYC has 8.337 million folks. Adam Fisher is a partner at Bessemer and manages the Herzliya, Israel office. While NY has seen more VC interest and has seen growth in the number of tech VC investors as well as seed VC dealflow and benefits from very positive sentiment, the comparison that Fisher and colleague Amit Karp highlighted between Israel and NY’s venture markets was an interesting one. Israel had 6 $500m+ exits in 2013 Regardless of all the hype, NYC had only 4 +$500M exits since 2009. Fisher is Partner at Bessemer Venture Partners, the VC behind Wix, LinkedIn, Yelp and more. After our brief on NY’s rise in venture capital funding last week, Adam Fisher who heads up Bessemer’s Israel office commented on Twitter.
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