Brief

Crowdfunding Company OurCrowd to Invest in New $30 Million Cannabis Fund

OurCrowd will collaborate with cannabis-focused early stage investment firm 7thirty on the new fund, which will operate globally, particularly in the U.S., Canada, and Israel

Jerusalem-based equity crowdfunding company OurCrowd Ltd. has agreed to invest in cannabis-focused early stage investment firm 7thirty Capital, the companies announced Wednesday. As part of the deal, the two companies will found a $30 million joint venture capital fund. OurCrowd will invest $10 million in the joint fund, according to one person familiar with the matter who spoke to Calcalist on condition of anonymity.

 

The fund will invest in companies that are developing cannabis-related technologies in the fields of digital health, agtech, retail, e-commerce, and software. The fund will operate globally, particularly in the U.S., Canada, and Israel, from 7thirty’s home office in Boulder, Colorado.

 

OurCrowd founder and CEO Jon Medved. Photo: OurCrowd