Jonathan Medved 370.
(photo credit: courtesy)
Crowd-sourcing platform OurCrowd on Monday announced General Electric’s
venture-capital unit, GE Ventures, has signed on as the first corporate funder
for the platform.
“We do a lot of intelligence screening and work, and
that value proposition is the same for an individual as it is for a giant
corporation,” OurCrowd CEO Jon Medved told The Jerusalem Post.
terms of the agreement, GE Ventures will be able to invest in Our- Crowd’s
early-stage companies, which span the areas of energy, health care, software and
advanced manufacturing, alongside OurCrowd’s other approved
Medved said he believes GE’s decision to become an Our- Crowd
investor is the first time a major corporation has joined a crowd-funding
investment firm, but it will not be the last.
“We don’t intend that
they’ll be our last corporate partner,” Medved said, adding that Our- Crowd was
in talks to bring other corporations on board.
The deal with GE, which
showed early interest in the company, resulted from longstanding relationships
with the OurCrowd team, he said.
GE Venture CEO Sue Siegel praised the
company’s “unique platform for dynamic earlystage origination and funding,”
adding that the partnership “will give GE increased access to early
Since its launch in February, OurCrowd raised more than $22
million for its 28 portfolio companies, all but four of which are based in
Israel. Two of those four were founded by Israelis.
“We’ve become the
most active investor in the country in terms of deal flow and dollars invested
and the largest crowd-funding platform in the world,” Medved
OurCrowd handpicks startups to fund and accredited investors, who
must put in at least $10,000. They can then pick and choose how much they want
to invest in each of the companies.