By Josh Beckerman
OurCrowd, which seeks to "democratize access to venture capital," said it will receive a $25 million convertible equity investment from SoftBank Vision Fund 2.
Jerusalem-based OurCrowd has more than 140,000 registered members from 195 countries. It has deployed more than $1.8 billion into "some 280 portfolio companies and 30 funds." Investments have included Beyond Meat Inc. and Lemonade Inc.
OurCrowd is only to open to accredited investors, based on rules of an investor's country of residence.
In the U.S., the Securities and Exchange Commission in 2020 expanded the definition of accredited investors to include holders of an entry-level stockbroker's license and others, saying this allows participation that isn't just based on net income or net worth, "but also based on established, clear measures of financial sophistication." Previously, accredited status required $1 million in net assets, not counting a primary residence, or at least $200,000 in annual income.
OurCrowd said it will enter into a strategic partnership with SoftBank Investment Advisers to consider investment opportunities, and also will work with SoftBank to evaluate market trends in areas like as artificial intelligence, quantum computing, cybersecurity and agricultural technology.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
10-27-21 1323ET
