HomeIsraelSouth Korean Government, NH Bank and OurCrowd to Launch $80M Israel-Korea Fund...

South Korean Government, NH Bank and OurCrowd to Launch $80M Israel-Korea Fund for DeepTech Investments

OurCrowd

OurCrowd, Israel’s venture investor, was selected by the South Korean government to co-manage a bilateral investment fund that will invest in startups in both countries.

The fund’s target is $80M, $48M of which has already been raised by the Korean partners of the fund:

  • Korea Growth Investment Corporation (K-Growth,) an agency of the Korean government that invests policy funds to achieve strategic objectives, on behalf of the Korean Ministry of Trade Industry and Energy (MOTIE), has committed $32M to the fund.
  • NH Venture Investment and its affiliate companies have committed $16M to the fund.

OurCrowd is currently raising funds from its over 240K registered investors worldwide.

The bilateral fund will invest in ~25-30 startups in both countries that focus in core technology sectors, such as semiconductors, robotics, automotive, quantum computing, cybersecurity, digital health, and more. It combines partners with access to Korean conglomerates and $48M in funds already committed.

Founded by CEO Jon Medved in 2013, OurCrowd provides a global venture investing platform that empowers institutions and individual accredited investors to invest and engage in emerging technology companies at an early stage. Acclaimed by PitchBook as the most active venture investor in Israel every year since 2013, it selects companies across all sectors and stages, invests its own capital, and provides its global platform of over 240,000 registered members from 195 countries with unparalleled access and freedom to co-invest from as little as $10K in the companies of their choice.

VCWire

27/06/2024