OurCrowd, one of Israel’s leading equity crowdfunding platforms for accredited investors, announced 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.
“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,” said OurCrowd’s CEO Jon Medved.
OurCrowd recently announced that it has successfully raised over $22 million for its 28 portfolio companies, including eight financings in excess of $1 million.
“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,” GE Venture’s CEO Sue Siegel said.
Medved added: “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.”