Skip to content

Israel-Korea fund of $80M to Invest in Startups in deep tech sectors

Israel-Korea fund of $80M to Invest in Startups in deep tech sectors
OurCrowd and South Korean government to establish $80M Israel-Korea fund for 25-30 deep tech startups in sectors like semiconductors, robotics, quantum computing, and more.

Table of Contents

OurCrowd, the most active venture capital investment body in Israel, has been chosen by the South Korean government to manage a bi-national investment fund that will invest in startups in both countries. The fundraising goal of the binational fund is $80 million, with $48 million already raised by the fund's Korean partners: NH Venture Investment and K-Growth. The fund will invest in approximately 25-30 startups in both countries that focus on deep technologies (deeptech) in areas such as semiconductors, robotics, the automotive industry, quantum computing, cyber security, and digital health. OurCrowd's CEO, John Medved, stated that the establishment of the Israel-Korea binational fund is wonderful news for Israeli hi-tech, as South Korea is looking for Israeli innovation to establish its position in the industries of the future. Kim Yoon Jin, CEO of NH Venture Investment, expressed that the fund will support the expansion of Korean companies through open collaborations focused on technological innovation with global technology companies, such as innovative Israeli companies. South Korea's economy is the 13th largest in the world and the fourth largest in Asia, with a gross domestic product growth of 4.1% in 2021. OurCrowd, founded in 2013, has become the most active investment body in venture capital in Israel with more than 240,000 registered qualified investors from 195 countries.

Source

Latest