Israeli Company OurCrowd Launches Cognitiv Ventures Fund
OurCrowd Ltd., a Jerusalem-based crowdfunding investment platform comparable to AngelList, is raising a $100 million fund to finance early-stage companies focusing on artificial intelligence, deep learning and robotics.
Unlilke AngelList, a popular destination for budding startups seeking capital, OurCrowd acts more like a traditional fund by vetting deals and investing in companies alongside its users.
“This round of innovation is affecting all of the traditional industries,” said Jon Medved, OurCrowd’s chief executive officer and co-founder. “Everyone is running scared from disruption, and the disruption that is coming is artificial intelligence.”
The new fund, Cognitiv Ventures, is OurCrowd’s largest and the 12th to launch on the platform. According to VentureBeat.com, OurCrowd has raised $650 million for 145 startups and plans to raise $1 billion in 2018.