Pitango Venture Capital Managing Director Aaron Mankovski expects that in three to four years the 70 venture capital investment entities in the local market will consolidate into 10 entities.

He expects that the funds will change their focus and guide portfolio companies more closely. Mankovski spoke at the Israel Venture Association conference held today in Tel Aviv.

Giza GE Venture Fund Co-founder and Managing Director Zvi Schechter said that even today about 20 funds control 80% of the VC activity and doesn't think venture capital funds with less than $150 million under management have good prospects for continuing.

Jerusalem Venture Partners Managing Partner Erel Margalit said that Israel's economic policy forms a mirror image of its foreign policy. He called on the local investment community to support expediting the talks for resolving the conflict in the Middle East, with special emphasis on the peace plan proposed by Saudi Arabia.

Meanwhile, Margalit said, Israel should persist in its war on terrorism.