OurCrowd Becomes First Israeli Venture Capital Firm to Operate in Abu Dhabi Global Market
OurCrowd incorporates wholly owned subsidiary OurCrowd Arabia in ADGM, operating as fund manager regulated by ADGM’s Financial Services Regulatory Authority
Dr. Sabah al-Binali appointed Senior Executive Officer and Executive Chairman of OurCrowd Arabia
JERUSALEM, November 22, 2021–(BUSINESS WIRE)–OurCrowd, Israel’s most active venture firm1, today announced its approval and licensing by Abu Dhabi Global Market (ADGM), the marquee international financial center in Abu Dhabi, to operate in the United Arab Emirates (UAE), making it the first-ever Israeli venture capital firm to obtain licensed status with ADGM. OurCrowd Management (Arabia) Limited (OurCrowd Arabia) will operate as a fund manager regulated by the ADGM’s Financial Services Regulatory Authority.
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The establishment of OurCrowd Arabia in ADGM was announced during a panel at the fifth edition of ADGM’s Fintech Abu Dhabi Festival, held under the patronage of His Highness Sheikh Hazza bin Zayed Al Nahyan, Vice President of the Abu Dhabi Executive Council.
Jon Medved, CEO and Founder of OurCrowd, said: “This historic development, a fruit of the Abraham Accords, will not only allow OurCrowd to raise funds in the UAE, but also promote local Emirati and regional startups to our 160,000 global investors and drive international investments into the UAE’s dynamic startup ecosystem. This is a major step toward developing OurCrowd’s business in the UAE and demonstrates our long-term commitment to the Gulf region.”
Dr. Sabah al-Binali, OurCrowd’s UAE-based venture partner, appointed Senior Executive Officer and Executive Chairman of OurCrowd Arabia, said: “The welcome recognition by the Abu Dhabi regulatory authorities will enable us to create venture funds based at ADGM to invest in technology startups and projects in the UAE and across the region. Our core focus in the initial stage will be on the agricultural, financial and medical technology sectors.”
With 160,000 accredited investors from more than 195 countries, OurCrowd is a leading platform providing investors with access to quality venture capital investment opportunities. Rated Israel’s most active venture investor since 2013 by PitchBook, OurCrowd has invested in over 280 companies and 30 funds. OurCrowd’s expansion in MENA parallels its continued global expansion. OurCrowd recently announced that SoftBank Vision Fund 2 has taken a $25 million convertible equity stake in the firm.
The annual OurCrowd Global Investor Summit, which will take place on May 25, 2022, in Jerusalem, is expected to draw hundreds of investors, entrepreneurs, and other major business figures from the U.A.E. and other Gulf countries, reflecting OurCrowd’s leadership in regional cooperation amid the historic growth of commercial ties between Israel and its neighbors. The Summit is one of the premier startup events in the world and the largest investor event in the Middle East.
About OurCrowd: OurCrowd is the online global venture investing platform that empowers institutions and individual accredited investors to invest and engage in emerging technology companies before they go public. Acclaimed by PitchBook as the most active venture investor in Israel, OurCrowd vets and selects companies across all sectors and stages, invests its own capital, and provides its global platform of over 160,000 registered members from 195 countries with unparalleled access and freedom to co-invest from as little as $10,000 in the companies and funds of their choice. Founded by CEO Jon Medved in 2013 with the vision of democratizing world-class venture capital investing, OurCrowd has grown rapidly into the world’s leading online venture investing platform and as of 2021 has received over $1.8 billion in commitments and has deployed capital into more than 280 portfolio companies and 30 funds across five continents. To date, OurCrowd’s startups have recorded 50 exits including several stock market listings: Beyond Meat, Lemonade, Innoviz, Hub Security; and numerous high-profile acquisitions: JUMP by Uber, BriefCam by Canon, Argus by Continental, Crosswise by Oracle, Replay by Intel, Corephotonics by Samsung, CyberX by Microsoft, and Kenna Security by Cisco. OurCrowd builds value for its portfolio companies throughout their lifecycles, providing mentorship, recruiting industry advisors, navigating follow-on rounds and creating growth opportunities through its network of multinational partnerships. For more information visit www.ourcrowd.com.
1 https://pitchbook.com/news/articles/top-vc-investors-in-israel-2021
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Contacts
OurCrowd: Leah Stern, Partner, Global Communications / Europe: +44 747 0196826 / E: leah@ourcrowd.com
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