South Korea's KEB Hana Bank Partners with Israeli Equity Crowdfunding Company OurCrowd

Israel-based Equity crowdfunding company OurCrowd Ltd. announced last week a partnership with Seoul-headquartered Korea Exchange Bank (KEB) Hana Bank, a subsidiary of one of South Korea's largest bank holding companies, Hana Financial Group.

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As part of the partnership, KEB Hana will take an equity stake in current and future OurCrowd portfolio companies. The two have also signed a memorandum of understanding, to work within South Korea and support its "innovation system," OurCrowd said.

Founded in 2013, Jerusalem-based OurCrowd offers accredited investors a way to participate in investments in pre-vetted startups, mostly Israel-based. The company has raised over $800 million and invested in 170 portfolio companies and funds to date.

OurCrowd has started its Asian expansion in 2015, and has since signed partnerships with financial institutes including Mumbai-based wealth management company Reliance Private Client; Hong Kong-based CITIC Pacific, a subsidiary of Beijing-headquartered, state-backed CITIC Group Corporation Ltd.; Singapore's United Overseas Bank Ltd.; and China's Shanghai Commercial Savings Bank. In August, the company's seed stage incubator announced a collaboration agreement with two South Korean venture capital firms, Development Trusts NI (DTNI) and Yozma Group Korea.