Business in Brief

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Private equity deals dropped 30% in quarter, 26% in 9 months

The value of private equity deals dropped 30% in the third quarter to just $547 million, but was up 76% from a year ago, the IVC Research Center reported yesterday. Moreover, a $400 million fund-raising by the technology company Mobileye accounted for nearly three-quarters of all private equity investment for the three months. The report, prepared together with the GHK law firm, said some $1.6 billion in private equity deals were done in the first nine months of the year, a 26% decline form the same time in 2012. The biggest deal of the year so far was the $500 million buy-out of the Alliance tire company by U.S. firm KKR. (TheMarker Staff)

Jerusalem Venture Partners raises $120 million for seventh VC fund

Jerusalem Venture Partners has raised $120 million for its seventh venture capital fund, according to papers it filed with the U.S. Securities and Exchange Commission. The new fund, which will bring the total raised by JVP since it was formed in 1993 to $1 billion, will invest in digital media, cyber and storage startups, JVP said in its SEC filing. The latest fund-raising is the first since 2011, when it raised $80 million. Its portfolio includes Cyoptics, which was sold in April for $400 million. Other VC funds raising money right now include Carmel Venture, Vertex Venture Capital and Qumra Capital. (Inbal Orpaz)

Beinart to earn NIS 100,000 a month as TASE CEO

Yossi Beinart, who was named the new CEO on the Tel Aviv Stock Exchange last week, will receive a monthly salary of about NIS 100,000, not counting bonuses that could reach up to NIS 600,00 if he hits certain milestones. Beinart met with TASE Chairman Ron Malka Sunday morning to settle his employment terms before he takes over the post from Ester Levanon at the end of the year. Beinart, who has been CEO of the North American Derivatives Exchange in Chicago, will be getting 10% less than Levanon. (Eran Azran)

OurCrowd teams up with GE Ventures

GE Ventures, the venture capital wing of General Electric, yesterday entered a co-investment partnership with Israeli crowdfunding platform OurCrowd that will enable GE Ventures to co-invest with OurCrowd in select early stage companies. Silicon Valley-based GE Ventures plans to invest $150 million annually across energy, healthcare, software, and advanced manufacturing companies. (Reuters)

Outside the Tel Aviv Stock Exchange in Tel Aviv, Israel, August 13, 2013.Credit: Bloomberg