Softbank invests in Our Crowd Venture Capital in Israel

Masayoshi Son, Chairman and CEO of SoftBank Group Corp., will speak at a press conference held in Tokyo on November 6, 2019.

Yoshinori Ohsumi | Getty Images

Softbank In exchange for the company’s private stake, it invested $ 25 million in an Israeli venture capital platform called OurCrowd.

The investment by the Japanese tech giant, announced Wednesday, is through SoftBank Vision Fund 2. The two companies have signed a “strategic partnership” as part of the agreement.

Founded in 2013 and headquartered in Jerusalem, OurCrowd’s platform gives institutional and accredited investors access to scrutinized venture capital investment opportunities that may otherwise not be found. The purpose is to.

“We are looking for co-investment opportunities and will support each other in trading sources,” Jon Medved, founder and CEO of OurCrowd, said in a media call Wednesday.

“We will work to assess and understand market trends and technology frontiers, whether quantum computing or artificial intelligence,” he added.

When CNBC emphasized that SoftBank’s $ 25 million investment is relatively small compared to some of the other billions of bets, Medved said: [million], Some of them are much larger than $ 25 [million].. But for us, we really don’t count money. We are more interested in focusing on strategic importance. “

OurCrowd says it has invested more than $ 1.8 billion in approximately 280 portfolio companies and 30 funds on five continents. According to VC research firm Pitchbook, the company claims to have registered 140,000 investors on its platform, making it Israel’s most active venture capitalist. This means that OurCrowd has made the most transactions ever with an Israeli-based start-up.

The company has helped companies such as mobility startup Jump. Uber, And meat alternative startup Beyond Meat, but have not yet invested in companies that have withdrawn for more than $ 10 billion.

Israel does not have the same tech giants as the United States and China, but a relatively small country with a population of about 9 million has a reputation for being tech-savvy.

Approximately $ 18 billion was invested in Israeli start-ups in the first nine months of 2021, according to data from research firm IVC, and 72 Israeli companies worth more than $ 1 billion, according to local technology network TechAviv. There is a company.

“Everyone is arguing whether Israel will create a company worth $ 50 billion or a company worth $ 100 billion,” Medved said.

Israeli Softbank

According to Medvede, Softbank has a “very interesting and growing presence” in Israel, a fairly large home. Apple, Facebook When Google Outpost.

In July Softbank hired former Mossad boss Yoshi Cohen As the head of SoftBank’s investment advisory business in Israel.

“There is huge potential in the private market ecosystem,” Cohen said in a statement Wednesday.

“Our Crowd has a network and pedigree investment partner to help promising Israeli start-ups emerge as international technology champions,” he added.

According to PitchBook, SoftBank has invested in companies founded in Israel such as AnyVision, eToro, Redis Labs and Trax.

Softbank invests in Our Crowd Venture Capital in Israel

Source link Softbank invests in Our Crowd Venture Capital in Israel

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