OurCrowd, a global digital investment platform founded in Jerusalem, announced the first close of its $50M Israel Resilience Fund, with more than $13M in capital commitments, and approved the first 8 investments from the fund.
OurCrowd will waive all management fees and carried interest as a contribution to Israel’s current wartime emergency. The Israel Resilience Fund plans to catalyze co-investments from other OurCrowd funds, VCs and investors in the firm’s global network, as well as potentially from government matching programs aimed at supporting the economy during the crisis.
The Israel Resilience Fund 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’s operations are managed by Jeff Kupietzky, a seasoned operator with over 15 years’ experience as a hightech CEO in the US and Israel. Kupietzky recently sold his company Jeeng to OpenWeb for $100M. Kupietzky is accompanied by expert investment partners including Noam Kaiser, a former Partner at Intel Capital, and investor at Gemini Israel Ventures and Ofer Hi Tech; and Liat Sverdlov, a Partner with the OurCrowd Investments Team.
Among the eight companies selected to receive investments this month, the half of them 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 reserves.
Founded by CEO Jon Medved in 2013, OurCrowd has over $2.2B in commitments (has as of 2023), and deployed capital into more than 420 portfolio companies and 50 funds across five continents. To date, OurCrowd’s startups have recorded 63 exits including several public market listings: Beyond Meat (BYND), Lemonade (LMND), Innoviz (INVZ), Arbe (ARBE), Alpha Tau (DRTS), Freightos (CRGO); and numerous high-profile acquisitions: JUMP by Uber, BriefCam by Canon, Argus by Continental, Crosswise by Oracle, Replay by Intel, Corephotonics by Samsung, CyberX by Microsoft, and Kenna Security by Cisco.