$80M Israel-S. Korea Fund To Invest In DeepTech In Both Nations

The South Korean government has chosen Israel’s largest online investment platform OurCrowd to co-manage a bilateral fund that will invest in DeepTech (engineering and scientific innovation) startups in both countries. 

The fund, formally known as the NHOC Global Open Innovation fund, will be one of the largest international investment funds. 

It aims to raise $80 million, of which $48 million has already been raised by the Korean partners in the fund – NH Venture Investment (which jointly manages the project with OurCrowd) and K-Growth. 

On the Israeli side, OurCrowd is currently fundraising from its more than 240,000 registered investors around the world.

The fund plans to invest in around 30 startups from both countries, with a focus on technology such as robotics, cybersecurity and digital health.

“The establishment of the Israel-Korea bilateral fund with the backing of the South Korean government is wonderful news for Israeli high-tech,” said OurCrowd CEO Jon Medved. 

“South Korea is looking at Israeli innovation to establish its position in the industries of the future that it strives to lead by the end of the decade and beyond,” he said. 

“Therefore, apart from the fund’s investments, Israeli DeepTech companies will receive direct access to the South Korean industrial giants and will be able to forge collaborations on a global scale.”