Two new investment vehicles for Israeli startups were announced this week.
In the automotive technologies sector, Renault-Nissan-Mitsubishi Alliance Ventures launched a new corporate venture capital fund, planned to invest up to $1 billion to support open innovation over the next five years, co-located in Tel Aviv, Silicon Valley, Paris, Yokohama and Beijing.
“This investment initiative is designed to attract the world’s most promising automotive-technology startups to the Alliance,” said Carlos Ghosn, chairman and chief executive officer of Renault-Nissan-Mitsubishi.
In its first year, the fund expects to invest up to $200 million in startups and open innovation partnerships with technology entrepreneurs focused on new mobility, including vehicle electrification, autonomous systems, connectivity and artificial intelligence.
Jerusalem-based OurCrowd global equity crowdfunding platform has launched Cognitiv, a specialized $100 million global fund focused on early-stage companies in artificial intelligence (AI), deep learning, Internet of Things (IoT), robotics and digital manufacturing.
Cognitiv, the 12th fund on OurCrowd’s platform and the third fund offering of the OurCrowd First seed-stage venture fund closed in May 2016, will give investors access to approximately 20 companies.
“AI-powered transformation is poised to disrupt and automate every sector in business – from healthcare and financial services to agriculture and manufacturing and could create the largest transfer of wealth in recorded history,” said Cognitiv’s newest general partner, Avi Reichental, who is joining Eduardo Shoval and Yori Nelken from OurCrowd First.
Reichental will moderate two related discussions at the 2018 OurCrowd Global Investor Summit scheduled for February 1 in Jerusalem: “Intelligent Artificial Intelligence: Fireside Chats on What It Takes To Develop, Grow and Invest in AI” with Michael Radwin, director of artificial intelligence and machine learning at Intuit, and with Jeff Herbst, vice president of business development at Nvidia.