Singaporean Bank UOB Will Invest $10M Into OurCrowd

March 3, 2016 | Singapore’s United Overseas Bank (UOB) said it would invest $10 million in Israel-headquartered crowdfunding platform OurCrowd as part of the companies’ collaboration to help Asian startups raise equity funds. The agreement would allow accredited investors from UOBs clientele to invest in OurCrowd’s portfolio companies. Sassoon Investment Corp, an investment holding company of Singapore-based Sassoon family known for building The Coffee Bean & Tea Leaf brand, will also be investing in OurCrowd’s Asian expansion. The deal follows, UOB’s agreement with Singapore sovereign wealth fund Temasek (which also has venture arm in Israel) to provide venture debt financing to start-ups in China, India and Southeast Asia. Founded in 2013, OurCrowd has raised over $200 million from individual investors and financed over 93 portfolio companies, four of which have already exited.