OurCrowd partners with VC firm UnderRock Investments to support startups
OurCrowd, the world’s largest global venture investing platform, has announced an expansion of its Iberian operations through a partnership with Portuguese venture capital firm UnderRock Investments.
UnderRock Managing Partner Miguel Horta e Costa will lead the initiative following a long and successful career in both the public and private sectors.
Miguel Horta e Costa, Managing Partner, UnderRock: “Lisbon is one of the fastest-growing tech hubs in Europe, with innovative startups in fintech, production planning and artificial intelligence. The arrival of OurCrowd is a unique opportunity for value creation in the Portuguese market as a whole, whilst building ties between Israeli and Portuguese technologies.”
Through the partnership, OurCrowd will offer curated deals to Portuguese investors and showcase Portuguese startups on OurCrowd’s platform, giving selected startups in the region access to accredited investors worldwide and to business development opportunities. The partners will focus on scouting out the latest startup technologies from the Iberian region.
Jon Medved, CEO, OurCrowd: “Lisbon is ranked as one of Europe’s innovation hotspots and startup hubs to watch. The city has a booming innovation scene and we look forward to investing in the latest technologies the ecosystem has to offer.”
David Hatchwell, Chairman of EXCEM, a Madrid-based Family Group, and a leader of the Jewish community in Spain, will continue to lead OurCrowd’s Iberian operations. The Hatchwells have been extremely active in the technology sector and are a significant component of the Spain-Israel commercial bilateral relationship.
David Hatchwell, Chairman, EXCEM: “We look forward to building on the success of our Spanish operations, which have grown rapidly since 2017. The tech ecosystem in Spain and Portugal is home to a fast-growing crop of startups that are of great potential interest to OurCrowd’s 58,000 investors around the world. At the same time, we will connect local entrepreneurs and traditional industries eager to embrace new technology with strategic and research partners in Israel’s world-leading startup community. We believe everyone will enjoy the fruits of this new Mediterranean partnership.”
The partnership is part of a growing group of global alliances announced by OurCrowd including: Stifel brokerage and investment banking firm, United Overseas Bank Limited (UOB) in Singapore, The National Australia Bank (NAB) in Australia, Reliance Private Client in India and Innogy SE in Germany.
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