OurCrowd, an Israel-based venture investing platform, received a $60m investment from financial services company Orix Corporation (TSE: 8591; NYSE: IX).
This deal represents Orix’ first collaboration with Israel’s startup sector, with OurCrowd planning to provide the company with access to a wide variety of innovative technologies and companies.
Under the terms of the agreement, Orix and OurCrowd will collaborate in agreed focus areas and will establish financial products and investment opportunities suited for the Japanese and global markets. This will include curated access to both venture capital funds and individual portfolio companies on a deal-by-deal basis.
Established in 1964, Orix is presently undertaking a wide range of businesses such as corporate finance, industrial/ICT equipment, environment and energy, automobile-related, real estate-related, private equity investment and concession, banking and life insurance businesses. Since entering Hong Kong in 1971, the company has been operating its businesses globally by establishing locations in 37 countries and regions across the world.
The OurCrowd community consists of almost 60,000 registered investors from over 183 countries. It has more than $1.5 billion in commitments and has made investments in more than 220 companies and 23 funds. OurCrowd already has had many exits, including the IPOs of Beyond Meat and Lemonade, the acquisition of JUMP Bike by Uber, the acquisition of Briefcam by Canon, the acquisition of Argus by Continental, the acquisition of Crosswise by Oracle, the acquisition of Replay by Intel, and more.
Nomura International plc acted as Adviser to OurCrowd in connection with the transaction.