Israeli equity crowdfunding company OurCrowd announced today that it has opened an office in Singapore, its seventh office worldwide. The new office will serve the growing community of Asian investors interested in funding early stage high-growth companies. Jerusalem based OurCrowd has appointed Denes Ban, a successful entrepreneur and technology executive, as Managing Partner Asia and head of OurCrowd’s Singapore Management company.
The move follows OurCrowd’s announcement earlier this year that it has partnered with United Overseas Bank (UOB) and Sassoon Investment Corporation (SassCorp) to pursue equity crowdfunding for startups and SMEs in the region. OurCrowd also received a formal license to begin operating in Singapore from the Monetary Authority of Singapore in August 2016.
OurCrowd CEO Jon Medved said, “Asia is one of our fastest growing markets and following our launch in Singapore, we will be looking to take OurCrowd further into the ASEAN market. Our business in Asia has grown five times since 2014, both in terms of the number of investors on the platform and investment dollars committed on our platform."
He added that OurCrowd’s Asian funding now represents over half of the funding recently invested on the site.
Medved continued, “Asia more broadly, and Singapore in particular, is becoming a globally-recognized financial hub for the next generation of innovative technology companies. We expect to tap into exciting new deal flow, as well as bring more and more Asian investors to join us in funding global technology companies.”
In just over three years, OurCrowd has invested over $320 million from its16,000 accredited investors in its portfolio of 100 companies and five funds, which span major investment sectors including Mobility and Transportation, Machine Learning, Cybersecurity, Digital Health, Agtech, Big Data, and Robotics.
Published by Globes [online], Israel business news - www.globes-online.com - on November 28, 2016
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