OurCrowd, one of the largest crowdfunding platforms in the world, has launched a new $100 million global fund labeled “Cognitiv.”
This specialized fund will focus on early-stage companies that leverage AI, IoT, robotics, digital manufacturing and more. Cognitiv is on a mission to fund tomorrow’s category leaders.
This is the 12th fund to launch for funding on OurCrowd’s platform and Cognitiv will give investors access to approximately 20 companies, with initial investments in EquityX, KolGene and FreshKeep.
OurCrowd reports that Cognitiv is a direct result of the success of OurCrowd First, the first fund entry by OurCrowd, raising approximately $12 million, closing in May 2016. Cognitiv is led by three entrepreneurs, responsible for creating value in the “billions of dollars.”
Jon Medved, OurCrowd Founder & CEO, said they were thrilled to offer the fund and to work with the well known managers;
“This growth from $12 million under management to a proposed new $100 million fund is reflective of the rapid and dramatic growth of the fund management business within the OurCrowd platform and underscores our expanding global reach and the power and vibrancy of our unique ecosystem.”
Cognitiv’s newest General Partner, Avi Reichental is the former President and Chief Executive Officer of 3D Systems, (NYSE:DDD) and brings decades of executive leadership in late stage global corporations. Reichental partnered with OurCrowd First’s Eduardo Shoval and Yori Nelken, both of whom come with successful track records in early-stage company-building and investment.
Reichental explained that AI powered transformation is poised to disrupt and automate every sector in business – from healthcare and financial services to agriculture and manufacturing and more. He believes AI could provide the “largest transfer of wealth in history.”
“Having built successful businesses ourselves, we understand that what looked impossible just yesterday, is fast becoming tomorrow’s reality. That is why we are seeding and scaling the very businesses that we believe are harnessing the power of cognitive technology to become tomorrow’s category leaders.”
OurCrowd First’s diverse portfolio represents multiple tech sectors including Ag-Tech, 3D Printing and Digital Health. Companies include deep learning imaging company Zebra Medical Vision, Ag-Tech disruptors Taranis and Centaur, AI powered visual service provider TechSee and Ultrafast 3D printing company Nexa3D, and more.
OurCrowd First has invested alongside prominent investors including Softbank, Khosla Ventures, Finistre, Salesforce CEO Marc Benioff, and Artis Ventures.
The OurCrowd crowdfunding community consists of about 20,000 accredited investors from over 112 countries. OurCrowd has raised over $500 million and invested in 130 portfolio companies and funds.
OurCrowd’s Global Investor Summit is scheduled for February 1st in Jerusalem. The event expects around 10,000 attendees and is the largest crowdfunding event in the world.