Google's Recent Acquisition May Pave the Waze for Other Israeli Start-ups

The phenomenal success of Waze may be a shot in the arm to the Israeli venture capital industry, which has been characterized in recent years by a dwindling injection of capital.

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Ehud Levy first met representatives of Waze in 2008. “We were the first to give them a term sheet,” recalls Levy, a managing partner at Vertex Venture Capital. That turned out to be a wise decision. Investors...