#AI News: OurCrowd Launches $100M Cognitiv Fund; Fund to Focus on Tomorrow's Cognitive Tech Category Makers
JERUSALEM - January 11, 2018 (Investorideas.com Newswire) OurCrowd, the leading global equity crowdfunding platform, today announced the launch of Cognitiv, a specialized $100 million global fund focused on early-stage companies that leverage AI, deep-learning, IoT, robotics and digital manufacturing to become tomorrow's category leaders. Cognitiv is the 12th fund to launch for funding on OurCrowd's platform and will give investors access to approximately 20 companies, with initial investments in EquityX, KolGene and FreshKeep.
Cognitiv is a direct result of the success of OurCrowd First, the first fund entry by OurCrowd, raising approximately $12 million, closing in May 2016. Cognitiv is led by three storied entrepreneurs, collectively responsible for creating value in the billions of dollars. Cognitiv's newest General Partner, Avi Reichental is the former President and Chief Executive Officer of 3D Systems, (NYSE:DDD) and brings decades of executive leadership in late stage global corporations. Reichental partnered with OurCrowd First's Eduardo Shoval and Yori Nelken, both of whom come with highly successful track records in early-stage company-building and investment.
"AI powered transformation is poised to disrupt and automate every sector in business – from healthcare and financial services to agriculture and manufacturing and could create the largest transfer of wealth in recorded history," said Avi Reichental, General Partner at Cognitiv. "Having built successful businesses ourselves, we understand that what looked impossible just yesterday, is fast becoming tomorrow's reality. That is why we are seeding and scaling the very businesses that we believe are harnessing the power of cognitive technology to become tomorrow's category leaders."
"We are thrilled to partner with Cognitiv and once again work together with Eduardo, Yori and Avi to launch a fund that is at the intersection of tech disruption and wealth creation," said Jon Medved, OurCrowd Founder & CEO. "This growth from $12 million under management to a proposed new $100 million fund is reflective of the rapid and dramatic growth of the fund management business within the OurCrowd platform and underscores our expanding global reach and the power and vibrancy of our unique ecosystem."
OurCrowd First's diverse portfolio represents multiple exponential tech sectors including Ag-Tech, 3D Printing and Digital Health. Companies include deep learning imaging company Zebra Medical Vision, Ag-Tech disruptors Taranis and Centaur, AI powered visual service provider TechSee and Ultrafast 3D printing company Nexa3D, and more. OurCrowd First invested alongside leading investors including Softbank, Khosla Ventures, Finistre, Salesforce CEO Marc Benioff, and Artis Ventures. Several of the portfolio's seed investments have already converted into larger Series A rounds of significant size.
Cognitiv General Partner, Avi Reichental will be available for interview at CES 2018 in Las Vegas, NV, as well as OurCrowd First portfolio company Nexa3D (Booth #9100). For more details or to arrange an interview, email email@example.com.
Cognitiv Ventures invests in early-stage cognitive AI companies with strong teams, disruptive business models and technologies that have a real use case for a big market. Cognitiv believes that in the sectors where AI has already been implemented at scale, it has been shown to deliver returns, increase profit margins and distinctively widen competitive advantages. Cognitiv is part of OurCrowd, the leading global equity crowdfunding platform for accredited investors, and the third fund offering of OurCrowd First (OCF), one of Israel's leading seed stage funds. For two years in a row, OCF has been recognized as Israel's most active seed fund by IVC Research.
OurCrowd is the leading global equity crowdfunding platform for accredited investors. Managed by a team of seasoned investment professionals and led by serial entrepreneur Jon Medved, OurCrowd vets and selects opportunities, invests its own capital, and brings companies to its accredited membership of global investors. OurCrowd provides post-investment support to its portfolio companies, assigns industry experts as mentors, and takes board seats. The OurCrowd community consists of almost 20,000 accredited investors from over 112 countries. OurCrowd has raised over $500M and invested in 130 portfolio companies and funds. To join OurCrowd as an accredited investor visit www.ourcrowd.com and click "Join."
The 2018 OurCrowd Global Investor Summit, Feb. 1, 2018, in Jerusalem, Israel, is the largest equity crowdfunding event in the world, and the largest investor event in the entire Middle East. The event will bring together Corporate partners like GE, Honda, DuPont, Samsung, and more, along with entrepreneurs, global delegations from over 50 countries, industry leaders and members of the press from all over the world. 10,000 are expected to register to attend. Learn more at summit.ourcrowd.com
For Press Materials: http://blog.ourcrowd.com/cognitiv
Leah Stern, UK: +44 747 0196826 / US: +1 703 626 4310
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