OurCrowd
{{short description|Investment platform based in Jerusalem}}
{{Use dmy dates|date=October 2017}}
{{Infobox organization
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| formation = {{start date and age|2013}}
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| headquarters = Israel
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| services = venture investing platform
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| leader_title = CEO & Founder
| leader_name = Jonathan Medved
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| leader_title3 = Chairman
| leader_title4 = Chief Financial Officer
| leader_name4 = Peter Raihelgauz
| board_of_directors = Geoff Levy, Steven Blumgart, David Hatchwell Altaras
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| name = OurCrowd
| founder = Jonathan Medved
| founding_location = Israel
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| website = {{URL|https://www.ourcrowd.com}}
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OurCrowd is an online global venture investing platform that empowers institutions and individual accredited investors to invest and engage in emerging technology companies at an early stage while still privately held. Based in Jerusalem, the company launched in February 2013,{{Cite news|url=https://www.fastcompany.com/company/ourcrowd|title=OurCrowd: Most Innovative Company {{!}} Fast Company|work=Fast Company|access-date=2018-05-27|language=en-US}} and has since opened overseas branches in the United States, the United Kingdom, Canada, Australia, Spain,{{Cite web|title=OurCrowd opens an office in Madrid|url=https://www.investinspain.org/invest/en/press-room/Business/news/NEW2017762797_EN_US.html|access-date=2020-12-11|website=www.investinspain.org}} Singapore,{{Cite web|last=Solomon|first=Shoshanna|title=OurCrowd opens Singapore office to tap Asia promise|url=http://www.timesofisrael.com/ourcrowd-opens-singapore-office-to-tap-asia-promise/|access-date=2020-12-11|website=www.timesofisrael.com|language=en-US}} Brazil,{{Cite web|title=OurCrowd launches Sao Paolo office to Tap into 'Key Region for Innovation'|url=https://nocamels.com/2019/10/ourcrowd-sao-paolo-office-innovation/|access-date=2022-05-24|website=www.nocamels.com|language=en-US}} and the UAE.{{Cite web|title=Flurry of corporate deals between Israel and UAE boosts optimism|url=https://www.ft.com/content/3d7d94ae-b491-46cd-a82c-6e7529c9ee5e|access-date=2022-05-25|website=www.ft.com|language=en-US}}
As of November 2022, OurCrowd has over 200,000 registered members and has received over US$2 billion in commitments.{{Cite web|title=Israel's Most Active Venture Investor OurCrowd Reaches $2 Billion Investment Commitments|url=https://www.forbes.com/sites/gilpress/2022/11/09/israels-most-active-venture-investor-ourcrowd-reaches-2-billion-investment-commitments/|access-date=2022-12-25|website=Forbes|language=en}} OurCrowd uses equity crowdfunding as its model. In equity crowdfunding, investments into a company's shares are pooled together from the crowd. OurCrowd allows each investor to choose the individual companies in which to invest. Investing in OurCrowd is available only to accredited investors, allowing them to choose in which portfolio companies and funds to co-invest in with a minimum of $10,000 in companies or $50,000 in funds.{{cite web|url=https://www.wired.co.uk/article/wired-money-equity-crowdfunding-ourcrowd|title=The exclusive world of startup investment is opening up|access-date=1 October 2016}}{{cite web|url=https://www.israel21c.org/ourcrowd-arabia-brings-crowd-investing-to-the-gulf|title=OurCrowd Arabia brings crowd investing to the Gulf|access-date=14 June 2022}} Our Crowd requires its Israeli portfolio companies to donate a portion of their equity to charity as part of the closing of any funding round.{{Cite web |date=2013-07-16 |title=Venture Fund 'Tmura' and 'OurCrowd' Partner To Push Startups To Give Equity To Charity |url=https://nocamels.com/2013/07/venture-fund-tmura-and-ourcrowd-partner-to-push-startups-to-give-equity-to-charity/ |access-date=2020-12-11 |website=NoCamels |language=en-US}}
Pitchbook has rated OurCrowd "Israel's most active VC fund" for the tenth consecutive year.{{cite news |title=The 10 most active Israeli VCs |url=https://pitchbook.com/news/articles/israel-most-active-vcs-tech-startups|access-date=25 December 2022 |date=6 May 2022}}{{cite news |title=OurCrowd named 2021's Most Active Venture in Israel |url=https://nocamels.com/2021/10/ourcrowd-pitchbook-active-investor-venture/ |access-date=14 June 2022 |date=7 October 2021}}{{cite news |title=Pitchbook: OurCrowd is Israel's Most Active Venture Investor Nine Years in a Row |url=https://finance.yahoo.com/news/pitchbook-ourcrowd-israel-most-active-102200769.html |access-date=14 June 2022 |date=7 October 2021}}{{Cite news |date=2019-03-26 |title=PitchBook again ranks OurCrowd Israel's most active VC fund |language=en |work=Globes |url=https://en.globes.co.il/en/article-pitchbook-again-ranks-ourcrowd-israels-most-active-vc-fund-1001279658 |access-date=2022-06-25}} OurCrowd invests its capital in all the companies and venture funds offered on its platform, and extends the opportunity to invest to its accredited membership on the same terms.{{cite web |title=OurCrowd Homepage |url=https://www.ourcrowd.com |website=OurCrowd |access-date=30 July 2019}}
As of November 2022, OurCrowd has had over 60 exits, including stock market listings like Beyond Meat, Lemonade, Innoviz and Hub Security.{{Cite news |date=2022-11-09 |title=OurCrowd to hold Global Investor Summit as it crosses $2B invested this February |language=en |work=Jerusalem Post |url=https://www.jpost.com/business-and-innovation/banking-and-finance/article-721870 |access-date=2022-12-25}} In addition to the exits, there were high-profile acquisitions including CyberX by Microsoft.{{Cite news |date=2022-06-22 |title=Microsoft confirms acquisition of CyberX to boost security in its Azure IoT business |language=en |work=tech crunch |url=https://techcrunch.com/2020/06/22/microsoft-confirms-acquisition-of-cyberx-to-boost-security-in-its-iot-business/ |access-date=2022-12-25}}
History
OurCrowd launched in February 2013 in Jerusalem,{{cite magazine |last=Reynolds |first=Matthew |title=How to make your fortune from startups with OurCrowd |magazine=Wired |date=22 June 2016 |url=https://www.wired.co.uk/article/fortune-startups-ourcrowd-john-medved |access-date=9 October 2016}}{{cite news |url=http://www.globes.co.il/en/article-ourcrowd-receives-license-to-raise-funds-in-singapore-1001146850 |title=OurCrowd receives license to raise funds in Singapore |newspaper=Globes |date=18 August 2016 |access-date=8 October 2016 |author=Globes correspondent}}{{cite web |url=http://www.geektime.co.il/meet-our-crowd-the-first-equity-crowdfunding-platform-dedicated-to-israeli-startups/ |title=ג'ון מדבד משיק את OurCrowd: לגייס השקעה לסטארטאפ שלכם באמצעות Equity Crowdfunding |date=6 February 2013 |access-date=1 October 2016}} by venture capitalist and angel investor Jonathan Medved.{{cite web |last=Swan |first=David |title=Crowded house on investment |website=The Australian |date=18 January 2016 |url=http://at.theaustralian.com.au/link/85437c5824323bb9f30c771d46a792f9?domain=theaustralian.com.au |access-date=9 October 2016}} Medved had already begun pursuing the idea of an online platform which would democratize access to private equity investing already in 2012. In March 2013, OurCrowd opened its US office in San Diego. It also has offices in Tel Aviv, Herzilya, New York City, Toronto, London, Sydney, Madrid, Hong Kong, and Singapore. In November 2013, OurCrowd partnered with GE Ventures, the venture capital branch of General Electric, allowing GE to invest alongside OurCrowd in venture capital investments.{{cite web |url=https://venturebeat.com/2013/11/04/ge-enters-the-crowdfunding-arena-with-ourcrowd-partnership/ |title=GE enters the crowdfunding arena with OurCrowd partnership |access-date=1 October 2016}}
In July 2016, the company launched "Our Innovation Fund", which invests in the Australian innovation ecosystem.{{Cite web |title=OurCrowd Launches "Our Innovation Australia Fund" |url=https://www.crowdfundinsider.com/2016/07/87502-ourcrowd-launches-innovation-australia-fund/ |website=crowdfundinsider.com |language=en-US}} 3 July 2016.
In November 2016, OurCrowd announced of a new fund called Qure, focusing on seed and Series A rounds and investing in digital health startups.{{Cite web |title=Ourcrowd launches $50 million digital health fund Qure |url=http://www.geektime.com/2016/11/03/ourcrowd-launches-50-million-digital-health-fund-qure/ |website=geektime.com |language=en-US}} 3 November 2016.
In December 2016, OurCrowd Portfolio Index Fund was launched.{{Cite web |title=OurCrowd Launches OC50 Portfolio Index Fund |url=https://crowdfunding360.com/ourcrowd-launches-oc50-portfolio-index-fund/ |website=crowdfunding360.com |language=en-US}} 2 December 2016.
In January 2018, OurCrowd announced that its Labs/02 seed stage incubator would be investing in 100 early stage startups over a ten-year period.{{Cite web|url=http://www.globes.co.il/en/article-ourcrowd-jerusalem-incubator-to-invest-in-100-startups-1001221780|title=OurCrowd Jerusalem incubator to invest in 100 startups - Globes English|website=Globes|language=he|access-date=2018-05-27}}
In May 2018, OurCrowd entered into a partnership with Bangkok Bank Public Company Limited to explore direct partnerships between Thailand’s investors and the OurCrowd platform.{{Cite news |date=2018-05-10 |title=OurCrowd Partners With Bangkok Bank |url=http://nocamels.com/2018/05/ourcrowd-partners-bangkok-bank/ |access-date=2018-05-27 |work=NoCamels - Israeli Innovation News |language=en-US}}{{Cite news|url=https://www.nationthailand.com/detail/Corporate/30344960|title=Bangkok Bank taps OurCrowd resources for equity crowdfunding - The Nation|work=The Nation|access-date=2018-05-27|language=en}}
In June 2019, the Israel Innovation Authority announced its selection of a consortium consisting of Tnuva, Tempo Beverages, OurCrowd, and [http://finistere.com/ Finistere Ventures] to run a foodtech incubator in northern Israel. The government will provide NIS 100 million in funding for the incubator over the eight-year franchise period.{{Cite web|url=https://www.calcalistech.com/ctech/articles/0,7340,L-3764010,00.html|title=Venture Capital Firm Finistere Is Committed to Israel, Says Founding Partner|last=Kabir|first=Omer|date=2019-06-11|website=CTECH - www.calcalistech.com|access-date=2019-09-10}}{{Cite web|url=https://en.globes.co.il/en/article-tnuva-consortium-wins-foodtech-incubator-tender-1001289094|title=Tnuva consortium wins foodtech incubator tender|date=2019-06-11|website=en.globes.co.il|language=he|access-date=2019-09-10}}{{Cite web|url=https://innovationisrael.org.il/en/news/israel-technological-superpower-food-sector-well|title=Israel –a technological superpower in the Food sector as well!|website=Israel Innovation|language=en|access-date=2019-09-10}}
By February 2020, OurCrowd’s portfolio reached 36 exits since its 2013 launch.{{cite web|last=Alois|first=J. D.|date=13 February 2020|title=Interested in Investing in Early Stage Firms? OurCrowd Has a Long List, Reports 36 Exits to Date|url=https://www.crowdfundinsider.com/2020/02/157225-interested-in-investing-in-early-stage-firms-ourcrowd-has-a-long-list-reports-36-exits-to-date/|access-date=13 February 2019|website=Crowdfund Insider}}
In October 2020, Our Crowd teamed up with Phoenix Capital, in Dubai, and appointed Sabah al-Binali as head of its activities in the Gulf region.{{Cite web|url=https://www.ft.com/content/c7386548-a25e-46b3-b07c-dee46cd00188|title=Israeli VC firm and Dubai merchant family form tech funding alliance|date=2020-10-05|access-date=2021-06-13}}
In November 2020, Japanese financial services corporation ORIX announced that it made a $60 million strategic investment into OurCrowd.{{Cite web|url=https://techcrunch.com/2020/11/20/orix-invests-60m-in-israeli-crowdfunding-platform-ourcrowd/|title=ORIX invests $60M in Israeli crowdfunding platform OurCrowd|date=2020-11-20|access-date=2021-06-16}}
In October 2021, Softbank Group's Vision Fund 2 invested 25 million USD in OurCrowd.{{Cite web |last=Shead |first=Sam |title=SoftBank takes stake in Israel's most active venture capital firm |url=https://www.cnbc.com/2021/10/28/softbank-takes-stake-in-israels-ourcrowd-venture-capital-firm.html |access-date=2023-03-09 |website=CNBC |language=en}}
In November 2021, OurCrowd Arabia became the first Israeli venture capital firm to receive a license from the Abu Dhabi Global Market (ADGM) and named Sabah al-Binali its Executive Chairman.{{Cite web|url=https://www.reuters.com/markets/us/israeli-venture-firm-ourcrowd-gets-license-operate-uae-2021-11-22/|title=Israeli venture firm OurCrowd gets license to operate in the UAE|website=Reuters |date=2021-11-22|access-date=2022-12-28}}
In September 2022, OurCrowd launched the $200 million Global Health Equity Fund with the WHO Foundation to focus on breakthrough technology solutions to improve healthcare around the world.{{Cite web|url=https://www.wsj.com/articles/ourcrowd-aims-to-raise-200-million-who-affiliated-global-health-fund-11663605087|title=OurCrowd Aims to Raise $200 Million WHO-Affiliated Global Health Fund|date=2022-09-19|access-date=2022-12-28}}
In November 2022, OurCrowd launched Integrated Data Intelligence Ltd. (IDI), offering artificial intelligence for business, in Abu Dhabi as part of a $60 million joint investment with the Abu Dhabi Investment Office.{{Cite web|url=https://www.wsj.com/articles/israels-ourcrowd-to-launch-ai-business-in-u-a-e-11668574940|title=Israel's OurCrowd to Launch AI Business in U.A.E.|date=2022-11-16|access-date=2022-12-28}}
OurCrowd Global Investor Summit
File:NAS Daily at the 2019 OurCrowd Global Investor Summit.jpg
The OurCrowd Global Investor Summit is an annual conference held in Jerusalem and is a gathering of innovation and startup ecosystem players: VC leaders, multinational corporations, institutional and individual investors, entrepreneurs, and other related professionals.{{Cite web|url=https://www.iati.co.il/event_item.php?ID=1551|title=OurCrowd Global Investor Summit 2019|date=7 March 2019|website=Israel Advanced Technology Industry|access-date=1 August 2019}} The conference covers three days, but the main event is the final day which includes content (on-stage and interactive exhibitions) networking opportunities, business meetings and satellite events.{{cite web |title=Summit Agenda|url=https://summit.ourcrowd.com/schedule/ |website=Agenda Preview - 2020 OurCrowd Global Investor Summit |access-date=22 October 2019}}
OurCrowd’s first annual Global Investor Summit was held in Jerusalem on 9–10 December 2014. The event hosted 700 attendees from 27 countries.{{Cite web|url=http://blogs.timesofisrael.com/scaled-for-global-growth-five-take-aways-from-the-ourcrowd-ocglobal-summit-jerusalem/|title=Scaled For Global Growth: Five Take-Aways From the OurCrowd #OCGlobal Summit / Jerusalem|last=Alan|first=Weinkrantz|date=11 December 2014|website=blogs.timesofisrael.com|language=en-US|access-date=2019-08-08}}
In January 2016, OurCrowd brought together 3,000 investors and entrepreneurs for an annual summit in Jerusalem.{{Cite web|url=http://summit.ourcrowd.com/|title=OurCrowd Global Investor Summit 2016|website=summit.ourcrowd.com|language=en-US|access-date=24 January 2016}}
In February 2017, OurCrowd nearly doubled attendance, with 5,000 investors and entrepreneurs coming in from 80 countries around the world to Jerusalem.{{Cite web|url=https://www.israel21c.org/5000-to-attend-ourcrowd-investor-summit-in-jerusalem/|title=OurCrowd Global Investor Summit 2017|last=Press|first=Viva Sarah|publisher=Israel21c|language=en-US|access-date=14 June 2018}} It was described in press coverage as the world’s largest equity crowdfunding event and the biggest investment event in Israel’s history.{{Cite web|url=http://nocamels.com/2017/02/huge-crowd-ourcrowd-investor-summit-draws-6000/|title=Huge Crowd: OurCrowd Investor Summit Draws 6K|website=nocamels.com|language=en-US}} 16 February 2017.
In February 2018, OurCrowd saw over 10,000 registrants for the Summit, including investors, VCs, multinationals, and entrepreneurs.{{Cite web|url=http://investinisrael.gov.il/Media/posts/Pages/ourcrowdsummit2018.aspx|title=Successful OurCrowd Summit Highlights Rising Global Interest in Investing in Israel|date=13 February 2018|publisher=Ministry of Economy and Industry, State of Israel|language=en-US|access-date=14 June 2018}} One of the main stage speakers was Sir Ronald Mourad Cohen, a renowned figure in social impact investment and the founder of Social Finance UK amongst the speakers, discussing "The New Investment Paradigm".{{cite web |title=The New Investment Paradigm - Doing Good While Doing Well - Sir Ronald Cohen |url=https://www.youtube.com/watch?v=TMxp6IxUMc8 |website=YouTube |access-date=22 October 2019}}
File:Daniel Kahneman at 2019 OurCrowd Global Investor Summit.jpg
On 7 March 2019, the OurCrowd Summit broke its own record with 18,000 registrants.[https://www.jpost.com/Jpost-Tech/Business-unusual-generating-positive-impact-through-innovation-583619 Business unusual: generating positive impact through innovation] Speakers on the agenda included Nas Daily's Nuseir Yassin, Nobel Prize Laureate Daniel Kahneman, Ron Fisher of Softbank Holdings, Daniel Bonderman (founding partner of private equity firm TPG), Dr Kira Radinsky of eBay Israel.{{cite news |date=7 February 2019 |title=Dr. Kira Radinsky, Nuseir (NAS) Yassin among speakers at upcoming OurCrowd Summit in Jerusalem |url=https://nocamels.com/2019/02/kira-radinsky-nas-daily-ourcrowd-summit/ |access-date=22 October 2019 |publisher=NoCamels |agency=NoCamels}}
In February 2020, OurCrowd hosted its sixth Summit with a record 23,200 registrants, over 600 multinational corporate representatives and 104 exhibitors. Speakers included Jason Greenblatt, former U.S. Special Envoy to the Middle East, Ron Kruszewski, Chairman and CEO of Stifel, Jun Sawada, CEO of NTT Holdings.{{Cite web|url=https://summit.ourcrowd.com/2020-highlights|title=2020 Summit Highlights |access-date=25 December 2022}}
The 2023 OurCrowd Summit featured, among other speakers, the US Ambassador to Israel, Thomas Nides who said, “The Abraham Accords made Israel a stronger democratic Jewish state. The early adopters created an unbelievable message to the world. It just makes the region stronger and just makes Israel stronger.” And an Abu Dhabi senior official spoke about his personal journey to Jerusalem as well.{{Cite web|url=https://www.businesswire.com/news/home/20230215005846/en/Startups-Saving-Lives-and-the-Planet-on-Display-at-the-2023-OurCrowd-Global-Investor-Summit|title=Startups Saving Lives and the Planet on Display at the 2023 OurCrowd Global Investor Summit |access-date=19 February 2023}}{{Cite web|url=https://themedialine.org/top-stories/ourcrowd-global-investment-summit-overflows-in-jerusalem-with-prominent-mideast-presence/|title=OurCrowd Global Investment Summit Overflows in Jerusalem, With Prominent Mideast Presence |access-date=19 February 2023}}
Awards
Over its years of activity, OurCrowd has won various awards and received industry recognition on numerous occasions. In 2014, OurCrowd was ranked #22 in The 50 Best Fintech Innovators report, a collaborative effort between AWI, KPMG Australia, and the FSC.{{Cite web|url=https://www.planet-fintech.com/downloads/The-50-Best-Fintech-Innovators-Report-2014-KPMG_t18527.html|title=The 50 Best Fintech Innovators Report 2014 (KPMG) {{!}} Téléchargements {{!}} www.planet-fintech.com|website=www.planet-fintech.com|access-date=2019-08-13}} OurCrowd was also consecutively named in H2 Ventures and KPMG's 'Fintech 100' list of leading global fintech innovators between 2015-2018.{{Cite web|url=https://home.kpmg/xx/en/home/media/press-releases/2015/12/fintech-announcing-the-world-leading.html|title='Fintech 100' – Announcing the world's leading fintech innovators for 2015 {{!}} KPMG Global|date=2016-03-08|website=KPMG|language=en-US|access-date=2019-08-14}}{{Cite web|url=https://home.kpmg/xx/en/home/media/press-releases/2016/10/the-fintech-100-announcing-the-worlds-leading-fintech-innovators-for-2016.html|title=The Fintech 100 – Announcing the world's leading fintech innovators for 2016 {{!}} KPMG Global|date=2016-10-21|website=KPMG|language=en-US|access-date=2019-08-14}}{{Cite web|url=https://home.kpmg/xx/en/home/media/press-releases/2017/11/the-fintech-100-announcing-the-worlds-leading-fintech-innovators-for-2017.html|title=The Fintech100 – Announcing the world's leading fintech innovators for 2017 {{!}} KPMG Global|last=Mostowyk|first=Lauren M.|date=2019-07-02|website=KPMG|language=en-US|access-date=2019-08-14}}{{Cite web|url=https://home.kpmg/xx/en/home/media/press-releases/2018/10/fintech-100-worlds-leading-fintech-innovators-2018.html|title=The Fintech100 – announcing the world's leading fintech innovators for 2018 {{!}} KPMG Global|last=Mostowyk|first=Lauren M.|date=2019-07-02|website=KPMG|language=en-US|access-date=2019-08-14}}
In 2015, OurCrowd was named #23 in Forbes' list of 24 Israeli companies you should watch.{{Cite web|url=https://www.forbes.com/sites/ilyapozin/2015/09/16/24-israeli-companies-you-should-watch-for-in-the-new-jewish-year/|title=24 Israeli Companies You Should Watch For|last=Pozin|first=Ilya|date=16 September 2015|website=Forbes|language=en|access-date=2019-08-13}} In 2017, OurCrowd was ranked #23 in Business Insider’s coolest tech startups in Israel.{{Cite web |last=Shead |first=Sam |date=May 25, 2017 |title=The 25 coolest tech companies in Israel |url=https://www.businessinsider.com/coolest-tech-startups-in-israel-2017-5 |access-date=2019-08-14 |website=Business Insider}} Additionally, OurCrowd was featured in Fast Company’s list of the most innovative companies in 2016 and 2018.{{Cite web|url=https://www.fastcompany.com/company/ourcrowd|title=OurCrowd: Most Innovative Company|website=Fast Company|language=en-US|access-date=2019-08-13}}
In May 2022, PitchBook Data Inc. has ranked OurCrowd as Israel’s most active venture investor since 2013.{{cite news |title=The 10 most active Israeli VCs |url=https://pitchbook.com/news/articles/israel-most-active-vcs-tech-startups|access-date=25 December 2022 |date=6 May 2022}}
See also
{{portal|Companies|Israel}}
References
{{reflist}}
External links
- {{official website|https://www.ourcrowd.com}}
{{Crowdfunding platforms}}
Category:Crowdfunding platforms of Israel
Category:Financial services companies established in 2013
Category:Technology companies of Israel