When it comes to technology, Israel holds a lot of surprises. Over the last 20 years, this small, young country with almost no natural resources has virtually transformed its economy into a thriving and innovative high-tech promised land where half of its $20 billion of exports in 2000 were in high tech. And foreign VCs have also taken notice, investing $3.7 billion in Israeli businesses in 1998. JVP recently closed its fourth fund of $400 million, with almost all of it invested in Israel, and the multinational firm Vertex Management has an exclusive Israeli fund, Vertex Management Israel, which closed its second fund with $157 million.
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