Global crowdfunding platform OurCrowd has partnered with Finistere Ventures, along with food manufacturer Tnuva and Tempo Beverages, in a new partnership to invest $100 million in Foodtech and Agtech innovation.
Finistere Ventures is a global agrifood investment firm. Tnuva is Israel’s largest food manufacturer and Tempo Beverages is a leading Israeli beverage company.
The new partnership is designed to help Israeli entrepreneurs gain access to leading global food and beverage firms.
Centered on Israeli technologies in the food and beverage value chain, the consortium will invest up to $100m in Israel “best-in-class agrifood startups.”
The partnership was launched following the Israeli government’s establishment of an innovation incubator in Northern Israel focused on Foodtech.
Finistere Ventures, OurCrowd, Tnuva, and Tempo Beverages will be bidding to operate the incubator being built as part of Kiryat Shemona’s planned innovation center.
The combination of the group of partners creates an extensive network of global food industry participants.
OurCrowd CEO Jon Medved commented on the initiative:
“FoodTech is now one of the hottest dishes on the Israeli innovation menu. When four innovation master chefs Finistere, OurCrowd, Tnuva, and Tempo get together to cook and create the newest companies the results are going to be scrumptious.”
Co-Founder and Partner at Finistere Ventures Arama Kukutai said that Israel has become a top innovation hub for Footech/Agtech and they plan to take advantage of this opportunity.
OurCrowd is Israel’s most active venture investor having captured $1 billion in commitments.
Recently, one of OurCrowd’s investments paid off when portfolio company Beyond Meat (NASDAQ:BYND) kicked off a successful initial public offering in the US. Beyond Meat has bucked the recent flat IPO trend having soared since listing on NASDAQ.
Overall, OurCrowd claims 34 exits since platform launch.
The OurCrowd community consists of approximately 30,000 registered investors from over 180 countries. The platform enables smaller (accredited) investors to gain access to highly vetted, VC deals.
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