OurCrowd Announces Co-Investment Agreement With GE Ventures
GE Ventures becomes first corporate partner for the Israeli equity
JERUSALEM -- 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
OurCrowd recently announced that it has successfully raised over $24 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
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.
For press materials:
Jenna Dobkin, 415-652-2185 (Mobile)
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