OurCrowd Signs Investment, Partnership Agreement With South Korea’s KEB Hana Bank
Global equity crowdfunding platform OurCrowd has signed an investment and partnership MOU with South Korea’s KEB Hana Bank (“KEB Hana”), a subsidiary of the Hana Financial Group.
As part of the inked agreement, KEB Hana will become OurCrowd’s latest institutional investor in Asia and will be granted an equity stake in a cross-section of current and future OurCrowd portfolio investments. The MOU agreement also seeks to create strategic relationships for Korean corporations that are looking for innovative technological solutions.
OurCrowd CEO Jon Medved said: “The high tech cooperation between Israel and South Korea is quickly evolving into an economic powerhouse.”
“We are delighted to welcome KEB Hana to a front row seat at the table, as we provide diversification of venture capital opportunities across the globe to the bank, and ultimately to a wide audience of impressive corporations and accredited investors in South Korea. This latest step forward, in addition to the partnerships we have established in Korea, will help leverage incredible commercial potential as we deepen the interface between the two countries’ industrial collaborations in various hi-tech fields,” he added.
Last year, OurCrowd and its seed stage incubator Labs/02 signed a collaboration agreement with DTNI and Yozma Group Korea, two of South Korea’s leading venture capital firms, which looked to strengthen the strategical bilateral collaboration between the two countries and support tech partnerships.
OurCrowd indicated that startups from South Korea will be part of a special pavilion at the Global Investor Summit, set to take place on March 7th, 2019, at the International Convention Center in Jerusalem.
Since entering the Asian market in 2015, the company has been offering valuable investment opportunities to regional investors, while delivering global capital into several startups from Hong Kong, Singapore, and India, according to a company statement.
Founded in 2013 by Jon Medved, OurCrowd has 10 offices around the world including in the US, the UK, Spain, and Hong Kong. To date, it has funded companies in Israel, the USA, India, Canada, UK, Hong Kong, Singapore and Australia, and expects to announce investments in additional locations in the near future.