Israeli venture platform OurCrowd today announced that SoftBank's Vision Fund 2 has made a $25 million convertible equity investment into the firm. As part of this deal, OurCrowd is also entering into a strategic partnership with SoftBank Investment Advisers (SBIA) to "consider investment opportunities via OurCrowd’s online venture capital investment platform" and jointly evaluate market trends. The focus here will be on startups that work on projects related to artificial intelligence, quantum computing, mobility, agtech, security, health tech and more.
Jon Medved, CEO of OurCrowd. Image Credits: OurCrowd
“The Softbank investment in OurCrowd will create real mutual value as we work together on behalf of further innovation in the venture capital asset class," OurCrowd CEO Jon Medved said. "I could not ask for better or stronger partners who are known above all for the incredible support they provide to their portfolio companies and entrepreneurs.”
Currently, OurCrowd's platform plays host to about 140,000 accredited investors. New registrations on the platform were at 25,000 in 2020 and have already surpassed 75,000 in 2021. As for new investments, the firm expects a number that will exceed $500 million this year.
OurCrowd says it will use the new funding to expand its platform and investor base and to accelerate its processes to identify new startups for inclusion on its platform. So far, the firm has invested in about 280 companies across its 30 funds. Its most successful exits to date include Lemonade, Beyond Meat, Jump, Kenna, Argus and Wave.
"Softbank has been investing ahead of major technology trends for over 40 years and we believe there is huge, embedded potential in the private markets ecosystem," said Yossi Cohen, head of SBIA’s operations in Israel. "In OurCrowd, we have an investment partner with the networks and pedigree to help promising Israeli startups to potentially emerge as international tech champions."