TLDR:
- Israel and South Korea are partnering to create a new $80 million investment fund for startups in both countries.
- The fund will focus on technology startups in areas such as robotics, automotive, quantum computing, cybersecurity, and digihealth.
Israel and South Korea have announced a new $80 million investment fund aimed at supporting startups in both countries. OurCrowd, Israel’s leading investment platform, will co-manage the fund with South Korean partners NH Venture Investment and K-Growth. The fund will target between 25 and 30 startups, with a focus on technology sectors such as robotics, automotive, quantum computing, cybersecurity, and digihealth.
The fund has already raised over half of its target amount, with NH and K-Growth committing $48 million. NH Venture Investment, a venture arm of NongHyup Financial Group, and K-Growth, a Korean government agency, will work together to manage the fund. OurCrowd’s CEO, Jon Medved, highlighted the opportunity for Israeli companies to collaborate with South Korean industrial conglomerates and drive technological progress forward.
South Korea is the 13th largest economy in the world with a significant focus on research and development. This partnership demonstrates a commitment to fostering global collaborations and innovation in the technology sector. Despite recent tensions, both countries are working together to leverage each other’s strengths and create opportunities for growth and advancement in the startup ecosystem.
