TLDR:
- OurCrowd and South Korean government are establishing an $80 million Israel-Korea fund for deep tech startups.
- The fund will focus on sectors such as semiconductors, robotics, quantum computing, and more.
The investment platform OurCrowd has been selected by the South Korean government to manage a bi-national investment fund with a fundraising goal of $80 million. The fund aims to invest in 25-30 deep tech startups in sectors like semiconductors, robotics, quantum computing, cyber security, digital health, and more. The Korean partners of the fund, NH Venture Investment and K-Growth, have already raised $48 million with access to major Korean companies.
NH Venture Investment, a subsidiary of NongHyup, and K-Growth, one of the largest financial groups in South Korea, will manage the fund along with OurCrowd. This collaboration is expected to open doors for Israeli companies to expand into Korean markets and vice versa. The fund will provide Israeli Diptech companies direct access to South Korean industrial giants and help Korean startups benefit from Israel’s network of venture capital investors.
South Korea, known for being the 5th largest manufacturing power and the world’s No. 2 investor in R&D, is looking to collaborate with Israel for technological innovation. OurCrowd, founded in 2013 by John Medved, has become a key player in venture capital investment in Israel, with over 240,000 qualified investors globally. The platform has raised over $2.3 billion in investment commitments, invested in 440 portfolio companies, and recorded 63 successful exits.
This strategic partnership between Israel and Korea through the establishment of the bi-national fund is expected to boost innovation, technology, and collaboration between the two countries in deep tech sectors, paving the way for future growth and success.
