OurCrowd Initiates Israel Resilience Fund with First 8 Strategic Investments

To date, the fund has extended financial support to eight companies, including notable recipients such as BlueTree, a food tech startup, and Carrar, specializing in developing thermal management solutions for electric vehicles. These companies faced recent challenges necessitating facility relocations. Furthermore, the fund’s investments encompass aerial imagery specialist Edgybees and Verobotics, a robotics startup primarily engaged in the cleaning and inspection of high-rise building facades.

OurCrowd has ambitious plans to raise a substantial sum of $50 million for its fund, uniquely structured to abstain from management fees and carried interest. Envisioned to benefit approximately 50 startups, this initiative is a response to the dual challenges faced by Israeli ventures—a global venture slowdown and the recent conflict in Gaza, necessitating urgent and targeted investment.

Jon Medved, the founder and CEO of OurCrowd, emphasized the fund’s mission to support struggling ventures and capitalize on discounted market valuations amidst the prevailing conditions. He highlighted the fund’s dual purpose: generating substantial returns for investors while offering essential support to Israeli companies, aiding their survival and eventual prosperity in the long term.

Operating partner Jeff Kupietzky, who recently concluded the sale of his startup Jeeng to OpenWeb for $100 million, shed light on the broader spectrum of challenges faced by these startups. Beyond financial concerns, the fund aims to address operational obstacles resulting from the conflict. He highlighted the complexities arising from personnel mobilization for military service, disruptions due to evacuations, and the ongoing threat of rocket fire, underscoring the critical need for funding to sustain operations during this tumultuous period and pave the way for future success.