OurCrowd is First Israeli VC Approved by Abu Dhabi Global Market

Online investment platform OurCrowd has become the first venture capital firm to be approved by Abu Dhabi Global Market (ADGM) to operate as a find manager in the United Arab Emirates (UAE). OurCrowd said in a statement that it hs incorporated a wholly-owned subsidiary, OurCrowd Arabia.

OurCrowd is Israel’s most active venture firm, providing access to capital for early-stage firms as well as investment opportunity in promising young firms for smaller (accredited) investors for as little as $10,000.

Jon Medved, CEO and founder of OurCrowd, said this act is a historic development, enabled by the Abraham Accords, which will not only allow OurCrowd to raise funds in the UAE but also promote local Emirati and regional startups to OurCrowd’s 160,000 global investors:

“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, commented:

“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.”

While highly active in the hot Israel startup market, OurCrowd is a global platform with investments from around the world. It is also home to a growing number of funds enabling immediate diversification. OurCrowd boasts investors from more than 195 different countries.

Recently, Softbank took a $25 million convertible equity stake in OurCrowd.

OurCrowd hosts an annual investor conference, attended by thousands of individuals, with the next scheduled to take place in May 2022. OurCrowd anticipates significant participation from professionals from the UAE as well as other Gulf countries as the platform expands its operations across the region.

 

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