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Pressure from cash-strapped investors concerned about the future of hi-tech forced Jerusalem Global Ventures (JGV), a venture capital fund, Tuesday to lower the capital commitments it demands from its limited partners by $30 million.
Micah Avni, managing partner together with founder Dr. Shlomo Kalish, said the fund would also cut management fees. Avni refrained from saying how deep the cut would be. Presently, management receives 2.5 percent of assets.
The announcement came after a slew of similar reports from Israel's venture capital industry. Several major venture capital investors, concerned with stagnant hi-tech growth, have demanded a cut in future cash calls.
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