OurCrowd Signs Partnership Agreement with South Korea’s Hana Bank to Support Innovation Ecosystem

The global leader in equity crowdfunding, OurCrowd, has signed a new investment partnership agreement with South Korea’s KEB Hana Bank. The move by OurCrowd is further indication of its growing relationship with institutional investors and its significant foothold in Asia.

In a release, OurCrowd said it would receive a portfolio investment in an undisclosed amount from KEB Hana Bank, a subsidiary of the Hana Financial Group. Hana Financial Group is one of the largest bank holding companies in South Korea and KEB Hana is a prominent Private Bank.

Along with an equity stake from the bank in a diverse group of current and future OurCrowd portfolio investments, OurCrowd said the two sides have signed an MOU agreement to pursue cooperation in support of South Korea’s innovation ecosystem. The agreement is aimed at “creating key relationships for Korea’s major corporations seeking technology solutions for the future.”

OurCrowd CEO Jon Medved said the high-tech cooperation between Israel and South Korea is rapidly evolving into an “economic powerhouse.”

“We are delighted to welcome KEB Hana to a front row seat at the table, as we provide diversification of venture capital opportunities across the globe to the bank, and ultimately to a wide audience of impressive corporations and accredited investors in South Korea,” said Medved. “This latest step forward, in addition to the partnerships we have established in Korea, will help leverage incredible commercial potential as we deepen the interface between the two countries’ industrial collaborations in various hi-tech fields.”

OurCrowd notes that last year it launched its seed stage incubator Labs/02 and signed a collaboration agreement with two of South Korea’s leading venture capital firms, DTNI and Yozma Group Korea. Facilitated by the Korea-Israel Industrial R&D Foundation, these agreements are strengthening bilateral strategic collaboration, supporting investment partnerships, and focusing on rapidly growing deep-tech startups in both countries.

OurCrowd said that it plans to feature several of these startups from South Korea as part of a special pavilion at the upcoming OurCrowd Global Investor Summit this coming March in Israel.

OurCrowd has worked to position its platform as a global investment leader. OurCrowd moved into Asia in 2015 seekingn to provide offering investment opportunities to regional investors, while simultaneously delivering global capital via its online platform into startups from Hong Kong, Singapore, and India.

OurCrowd’s additional relationships in Asia include: the United Overseas Bank in Singapore, Shanghai Commercial Savings Bank in Taiwan, Citic Pacific in Hong Kong, Reliance Private Client in India, and National Australia Bank.

In May of 2018, OurCrowd announced its most recent investment, from Thailand’s Bangkok Bank.

OurCrowd Managing Partner Denes Ban who was instrumental in facilitating the deal added:

“This partnership with KEB strengthens our presence and our commitment to Asia. After agreements with leading financial institutions in China, Hong Kong, Taiwan, Singapore and India, we are delighted to open up our presence in Korea and work alongside Korea’s leading bank.”

OurCrowd reports that its network effect has boosted international business development for startups and corporates across the region.

OurCrowd expects to soon top $1 billion in investment. Currently, OurCrowd provides access to unique investment opportunities to over 30,000 accredited investors from around the world. OurCrowd vets and selects companies and invests its own capital in every single offering on its platform.

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