OurCrowd Announces Co-Investment Agreement with GE Ventures
GE Ventures becomes first corporate partner for the Israeli equity crowdfunding platform
Jerusalem, Israel November 4, 2013: OurCrowd, Israel’s leading equity crowdfunding platform for accredited investors, announced today that it has closed a strategic co-investment partnership with GE Ventures, the corporate venture capital unit of GE.
Under the agreement, GE Ventures will have the right to co-invest with OurCrowd in select early stage companies in the areas of energy, healthcare, software and advanced manufacturing.
OurCrowd’s CEO Jon Medved said, “We are thrilled to partner with GE Ventures on co-investments via our equity crowdfunding platform. GE brings unequalled expertise and experience in a broad range of technologies and businesses that will add real value to our portfolio companies and to our investor community. To partner with a company of GE’s size and stature will allow OurCrowd to help break new ground in innovation finance”.
GE Venture’s CEO Sue Siegel said, “OurCrowd has created a unique platform for dynamic early stage origination and funding. They offer a quality investment environment and the partnership will give GE increased access to early innovation.”
OurCrowd recently announced that it has successfully raised over $22 million for its 28 portfolio companies, including eight financings in excess of $1 million. It has already launched eight follow-on rounds for its companies to support expansion of its operation.
Jon Medved, concluded, “We believe we have reached a real milestone and transformative moment in the world of high tech finance. We are looking forward to driving innovation forward with GE Ventures, faster and harder than ever before.”
OurCrowd is an equity crowdfunding platform for accredited investors only who wish to invest in Israeli and global early stage companies. Managed by a team of well-known investment professionals and led by serial entrepreneur Jon Medved, OurCrowd selects opportunities, invests its own capital and brings these startups to its accredited membership. Members choose those deals they invest in via OurCrowd-managed partnerships. OurCrowd investors must meet stringent accreditation criteria and invest a minimum of $10,000 per deal. OurCrowd provides post investment support to its portfolio companies, assigning industry experts as mentors and taking board seats.
About GE Ventures
GE Ventures is an international corporate venture capital unit, based in Silicon Valley, which enables startups, partners and GE to accelerate growth and commercialize innovative ideas that will help make the world work better – to build, power, move and cure. The unique combination of capital, technical and commercial expertise, infrastructure, and the GE global network of businesses and partners, helps our partners to advance industries and improve lives. For more information visit www.geventures.com or follow us on Tumblr.
Jenna Dobkin, Evolve!, Inc.
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