80 million dollar bilateral fund established by the South Korean government and OurCrowd for Israel-Korea relations

OurCrowd, the most active venture capital investment body in Israel, has been selected by the South Korean government to manage a bi-national investment fund that will support startups in both countries. The fundraising goal for the fund is $80 million, with $48 million already raised by the fund’s Korean partners: NH Venture Investment and K-Growth, who have strong connections to major companies in Korea. OurCrowd is currently raising capital from its 240,000 qualified investors globally.

NH Venture Investment, a subsidiary of NongHyup, one of South Korea’s largest financial corporations managing assets worth $400 billion, has raised $16 million for the fund. K-Growth, another major financial group in South Korea handling the government’s technological investments, has raised $32 million. The fund, managed jointly by NH Venture Investment and OurCrowd, aims to invest in 25-30 startups focusing on deep technologies in sectors such as semiconductors, robotics, automotive, quantum computing, cyber security, digital health, and more.

John Medved, CEO of OurCrowd, highlighted the significance of the Israel-Korea bi-national fund backed by the South Korean government in fostering technological innovation. South Korea’s economy is the 13th largest globally, with a strong focus on manufacturing and R&D. The fund will facilitate collaborations between Israeli and Korean startups, providing access to global markets and capital.

Kim Yoon Jin, CEO of NH Venture Investment, emphasized the fund’s goal to support Korean companies through innovation and global collaborations. As South Korea aims to lead in future industries, partnerships with Israeli startups will be key. OurCrowd’s extensive network will enable Israeli diptech companies to engage with Korean industrial giants and expand into the Asia-Pacific markets.

OurCrowd, founded in 2013 by John Medved, has emerged as a leading venture capital investment body in Israel with a large and diverse investor base. With over $2.3 billion in investment commitments, the platform has supported numerous portfolio companies and recorded successful exits. The Israel-Korea bi-national fund represents a significant opportunity for startups in both countries to leverage each other’s strengths and drive innovation on a global scale.