OurCrowd announces $50 million Israel Resilience Fund with eight initial investments
OurCrowd announces $50 million Israel Resilience Fund with eight initial investments
The fund has so far received more than $13 million in capital commitments, and approved the first eight investments from the fund, including to BlueTree, Carrar, Edgybees, and Verobotics
Global digital investment platform OurCrowd announced on Wednesday the first close of its $50 million Israel Resilience Fund, with more than $13 million in capital commitments, and approved the first eight investments from the fund. OurCrowd said it will waive all management fees and carried interest.
The fund, which was first announced just 40 days ago, aims to focus on 50+ startups directly affected by the crisis, or developing critical solutions related to the security situation, including environmental impact, emergency medicine, food security, cybersecurity, media monitoring, reconstruction and other verticals. The fund has an Advisory Board of global tech and investment leaders.
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Jeff Kupietzky (from left), Jon Medved, Alon Tal, and Maya Zachodin Koren.
(Photo: Alice Ben David)
Numerous companies applied to the fund and eight were selected to receive investments this month. Half of the companies selected in this first round are not currently included in OurCrowd’s portfolio.
Recipients include: BlueTree, which has developed proprietary technology to reduce sugar in natural beverages. The company was recently evacuated from its facility in Kiryat Shmona near the Lebanon border; Carrar, experts in EV battery thermal management systems. The company was forced to relocate from its headquarters in Sderot near Gaza; Edgybees, utilizing satellite and motion imagery to deliver actionable insights currently in use to save lives; Verobotics, utilizing an autonomous robot for building exterior upkeep and proactive maintenance, whose key staff are serving in the IDF reserves.
Shay Har-Noy, CEO of EdgyBees, said “We're thrilled to get this investment, especially as our technology has been so crucial for the Israeli Defence Forces’ operation. With many of our employees serving in the military reserves, this additional funding is a vote of confidence in our technology, team and efforts to support the war effort.”
The Israel Resilience Fund will strive to catalyze co-investments from other OurCrowd funds, VCs and investors in OurCrowd’s global network, as well as potentially from government matching programs aimed at supporting the economy during the crisis.
The fund’s operations are managed by Jeff Kupietzky, a seasoned operator with over 15 years’ experience as a high-tech CEO in the U.S. and Israel. Kupietzky recently sold his company Jeeng to OpenWeb for $100 million. Kupietzky is accompanied by expert investment partners including Noam Kaiser, a former Partner at Intel Capital, and investor at Gemini Israel Ventures and Offer Hi Tech; and Liat Sverdlov, a Partner with the OurCrowd Investments Team.
Founded by CEO Jon Medved in 2013, OurCrowd has over $2.2 billion in commitments, and deployed capital into more than 420 portfolio companies and 50 funds across five continents.
