OurCrowd Launches $100M Cognitiv Fund
15 January, 2018
Jon Medved, OurCrowd Founder & CEO: “This growth from $12 million under management to a proposed new $100 million fund reflects the rapid growth of the fund management business within the OurCrowd platform”
The Jerusalem based crowdfunding platform, OurCrowd, announced the launch of Cognitiv, a specialized $100 million global fund focused on early-stage companies that leverage AI, deep-learning, IoT, robotics and digital manufacturing. Cognitiv will give investors access to approximately 20 companies, with initial investments in EquityX, KolGene and FreshKeep.
Cognitiv is a direct result of the success of OurCrowd First, the first fund entry by OurCrowd, raising approximately $12 million, closing in May 2016. Its newest General Partner, Avi Reichental is the former President and Chief Executive Officer of 3D Systems, (NYSE:DDD). He partnered with OurCrowd First’s Eduardo Shoval and Yori Nelken.
“AI is poised to disrupt and automate every sector in business,” said Reichental. “Having built successful businesses ourselves, we understand that what looked impossible just yesterday, is fast becoming tomorrow’s reality.” Jon Medved, OurCrowd Founder & CEO said: “This growth from $12 million under management to a proposed new $100 million fund is reflective of the rapid and dramatic growth of the fund management business within the OurCrowd platform.”
Cognitiv Ventures will invest in early-stage cognitive AI companies with strong teams, disruptive business models and technologies that have a real use case for a big market. Cognitiv is part of OurCrowd, the leading global equity crowdfunding platform for accredited investors, and the third fund offering of OurCrowd First (OCF), one of Israel’s leading seed stage funds. For two years in a row, OCF has been recognized as Israel’s most active seed fund by IVC Research.
OurCrowd provides post-investment support to its portfolio companies, assigns industry experts as mentors, and takes board seats. The OurCrowd community consists of almost 20,000 accredited investors from over 112 countries. OurCrowd has raised over $500M and invested in 130 portfolio companies and funds.
More information: www.ourcrowd.com