Israel’s venture capital platform OurCrowd and Thailand’s corporate innovative powerhouse RISE announced the establishment of Rise OurCrowd Exponential (ROCX), a VC fund focused on deep technologies.

ROCX, Thailand’s first Israel-focused VC fund, will begin investing by the end of 2024.

OurCrowd has been the most active venture investor in Israel in the past 10 years with $2.2 billion capital deployed into more than 420 portfolio companies and 50 funds in five continents, across many tech sectors. 

RISE works with Fortune 500 companies, large family businesses, and government agencies across Southeast Asia.

Managers of the $50 million fund plan to invest in promising early-stage Israeli startups in the spheres of cybersecurity, AI, life sciences, semiconductors, quantum computing, climate-tech, agri-tech, food tech and more. 

They announced that the fund will invest “dozens of millions of dollars” over the next two to three years, focusing on up to 30 companies with a capacity to develop solutions with proven product-market fit.

The funding is intended to provide the startups with the capital needed to scale up their commercial growth, especially across Southeast Asia.

OurCrowd Founder and CEO Jon Medved said the partnership represents a “bridge between Thailand, greater Southeast Asia, and emerging Israeli technologies.” 

“The capacity unleashed by the ROCX fund has the potential to leverage the innovation from Startup Nation for the benefit of the regional ecosystem to generate a double bottom line of GDP growth and social impact,” Medved said.

Cofounder and CEO of RISE Kid Parchariyanon said: “This new fund will invest in the most cutting-edge deep technologies both Israel and Asia have to offer, and put them to work in creating maximum impact and changing lives — from life sciences to agriculture, from artificial intelligence to cybersecurity and beyond.”