Investment platform OurCrowd in negotiations for $1 billion SPAC merger
Jerusalem-based OurCrowd, founded by Jon Medved, helps institutions and individuals invest in emerging companies and is considered one of the most active venture investors in Israel
Golan Hazani | 09:39 16.08.2021
Going public via a merger with a special purpose acquisition company (SPAC) has seen numerous Israeli hi-tech companies hit Wall Street over the past year. Jerusalem-based investment platform OurCrowd looks set to follow in their footsteps, with Calcalist learning that it is in negotiations with a SPAC traded on Nasdaq to go public at a valuation of over $1 billion. OurCrowd, founded by Jon Medved in 2013, is negotiating with several SPACs but talks with one of the blank check companies are believed to be at a more advanced stage than others and it is being estimated that a deal is set to be reached during next month or October. OurCrowd helps institutions and individuals invest in emerging companies and is considered one of the most active venture investors in Israel. Some of its portfolio companies have been acquired by leading giants such as Microsoft, Uber, Canon, Oracle, Nike, and Intel. It has also seen several of its portfolio companies go public, including Lemonade, Beyond Meat, and Innoviz. In addition, OurCrowd is also active in over 195 countries with $1.8 billion of committed funding and has investments in over 300 portfolio companies and 18 venture funds.