Israel’s OurCrowd scores massive $72 million Series C for its crowdfunding equity fundSep. 22, 2016
Jerusalem-based equity crowdfunding platform OurCrowd announced the close of a colossal $72 million Series C funding round on Wednesday morning from a collection of investors from around the world but with a heavy amount of financing from interests in Singapore, Hong Kong and mainland China.
“It’s a big deal, but especially because we’re a crowdfunding company and this is the largest round anyone has raised,” Founder and CEO Jon Medved told Geektime.
Half the money will go to expanding the company’s seven offices around the world and the rest will be spread among OurCrowd’s 100 portfolio companies, which have collectively raised over $300 million. Their most prominent exits include now-public ReWalk, Intel acquisition Replay Technologies and Oracle-purchased Crosswise.
OurCrowd announced a $10 million investment from Singapore bank UOB back in March, something that seems to have been a harbinger of good things to come for the platform. The proliferation of big investors might seem overwhelming for some of their smaller investors, who at a minimum of $10,000 invested aren’t exactly hurting personally. But the tech investment game is a new one for many of the some 15,000 small-timers who are invested in OurCrowd.
“The problem with the smaller investors is they don’t have the patience for these tech investments to bear fruit,” Medved explained. “The illiquidity is tough for small investors. The bigger guys are used to it. If you don’t have an adequate spread, you might only pick one or two who are struggling.”