Last November, OurCrowd announced the creation of the Israel Resilience Fund – launched following the terrorist attacks by Hamas. Israel is a top center of innovation and entrepreneurship, and OurCrowd is one of the leading investors in early-stage firms in Israel. The attacks upended the entire Israeli society as the country rushed to defend itself. OurCrowd said it would be supporting portfolio companies both with new and follow-up funding rounds that have been impacted by the war with Hamas. OurCrowd also explained that companies that are providing tech that helps to support the ongoing crisis will be part of this new fund.
In the past days, OurCrowd has announced that it has made eight initial investments for companies receiving “emergency funds.” The first investments include four companies that are new to OurCrowd.
The companies receiving funding include BlueTree Technologies and Carrar, which had to relocate due to the war, and Edgybees, which is helping Israeli forces with its aerial imagery analysis platform.
Jeff Kupietzky, Resilience Fund Operating Partner, said:
“Companies face operational challenges with key personnel called up to the military reserves, while evacuations and rocket fire pose a challenge to daily business operations. Companies resiliently continue, yet many need financing to extend runways through the crisis and power their ultimate success.”
OurCrowd aims to invest in up to 50 firms as part of the fund. All fees and carried interest are being waved as part of the fund. The company seeks $50 million for the fund.
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