Israeli high-tech companies raised $279 million in venture capital in the second quarter of 2009, according to a Israel Venture Capital Research Center (IVC) report. While the total is 40 percent less than the $465 million raised by 115 startups in the second quarter of 2008, it represents a 5 percent increase over the first quarter of 2009.

The IVC also reported Thursday that Israeli firms are projected to raise a lot less funding than last year. In 2008, saw $793 million secured in capital commitments, but estimates for 2009 put the figure close to $300 million.