PwC Israel collaborates with OurCrowd’s Israel Resilience Fund to support local tech sector
PwC Israel collaborates with OurCrowd’s Israel Resilience Fund to support local tech sector
PwC will provide business development, dedicated mentorship and other support to startups in the fund, which has already extended 34 investment commitments to tech companies
PwC Israel and venture fund OurCrowd announced on Tuesday a strategic partnership by which PwC Israel will provide business support to portfolio companies in OurCrowd’s Israel Resilience Fund. OurCrowd also announced that it had increased the number of commitments by the fund from 8 to 34 startups, of which half are outside the existing OurCrowd portfolio.
“Amidst the current situation in the Israeli ecosystem, we are proud to collaborate with OurCrowd's Israel Resilience Fund which is dedicated to fund and supports elected tech companies who are highly affected by the recent war in Israel,” said Guy Preminger, Technology Leader at PwC Israel. “Our involvement in the program is focused on helping the portfolio companies with their business development and fundraising efforts in Israel and abroad; connections to a large pool of finance executives, who are committed to support the companies; dedicated mentorship from our experts; and more.”
“The Israel Resilience Fund now has $17 million in commitments, and 34 Israeli startups have received approval for investment, representing over 1,000 jobs in Israel,” said Jon Medved, Founder and CEO of OurCrowd. “The fund, launched in November 2023, is a pioneering initiative that is investing in Israeli startups impacted by the ongoing war in Israel. OurCrowd is waiving all management fees and carried interest, in a move which will further strengthen investors’ financial return.”
