OurCrowd launches $30m cannabis tech VC fund

Jon Medved Photo PR

The fund is focused on emerging cannabis technology companies in med-tech, ag-tech, retail, e-commerce, marketplaces, SaaS solutions, and deep-tech research in cannabis.

Israeli crowdfunding platform OurCrowd has announced that it will invest and partner with 7thirty to build a global cannabis technology venture capital fund.

The new $30 million fund is focused on emerging cannabis technology companies in med-tech, ag-tech, retail, e-commerce, marketplaces, SaaS solutions, and deep-tech research in cannabis. The fund, which will be headquartered in Boulder, Colorado, will invest worldwide with a focus on Israel, Canada and the US.

OurCrowd CEO Jon Medved said, “The explosive growth of the legal and medical cannabis market is quite impressive. Canada recently legalized cannabis nationwide and Israel is in the final stages of legalizing cannabis export. The amount of serious medical research in cannabis is booming. This market will generate unprecedented global investment activity and returns for cannabis focused startups. Together with 7thirty, we plan to lead investments for serious companies who will pioneer technology for this important and growing market.”

The 7thirty Opportunity Fund is led by theUS’s most active early stage cannabis technology investor, Micah Tapman. Prior to founding 7thirty, Micah was a co-founder at CanopyBoulder, where he led investments in over 90 cannabis related companies. Several of those companies are now recognized leaders in the cannabis market, including Wurk, BDS Analytics and Front Range Biosciences.

Tapman said, “We are pleased to welcome OurCrowd to the 7thirty Opportunity Fund. Israel is a recognized leader and pioneer in cannabis technology, and OurCrowd has a demonstrated track record as a value-added investor. Together we plan to bring a institutional discipline and rigor to the cannabis technology investment market.”

OurCrowd principal and cannabis-tech lead Kfir Kachlon said, “The ability to work side by side with Micah and the 7thirty team is really exciting for us. OurCrowd has already invested in leading Israeli Cannabis Technology companies such as Syqe and Edenshield, and now together with 7thirty we look forward to combining our Israeli deal flow with their North American leadership in the industry to create a truly winning fund formula.”

Published by Globes, Israel business news - en.globes.co.il - on January 23, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

Jon Medved Photo PR
Jon Medved Photo PR
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