OurCrowd Forms Strategic Partnership with Portugal’s UnderRock Investments
Expansion in Spain and Portugal to focus on local Iberian innovation
JERUSALEM & LISBON, Portugal–(BUSINESS WIRE)–OurCrowd, the world’s largest global venture investing platform, today 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 said: “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.
OurCrowd CEO Jon Medved said: “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.
“We look forward to building on the success of our Spanish operations, which have grown rapidly since 2017,” said David Hatchwell.
“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,” Hatchwell said.
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.
Notes to Editors
About OurCrowd: OurCrowd is a global venture investment platform that empowers institutions and individuals to invest and engage in emerging companies. Rated by PitchBook as the most active venture investor in Israel, OurCrowd vets and selects companies, invests its capital, and provides its global network with unparalleled access to co-invest and contribute connections, talent and deal flow. OurCrowd builds value for its portfolio companies throughout their lifecycles, providing mentorship, recruiting industry advisors, navigating follow-on rounds and creating growth opportunities through its network of multinational partnerships. With $1.5 billion of committed funding, and investments in more than 220 portfolio companies and 23 venture funds, OurCrowd offers access to its membership of almost 60,000 individual accredited and institutional investors, family offices, and venture capital partners from over 183 countries to invest alongside, at the same terms. OurCrowd’s portfolio is diversified across sectors and stages, ranging from seed and series A through late stage and pre-IPO firms. OurCrowd portfolio companies have been acquired by some of the most prestigious brands in the world, including Microsoft, Uber, Canon, Oracle, Nike, and Intel. To register and get involved, visit http://www.ourcrowd.com/
About UnderRock Investments: With a team of highly influential individuals recognized by their vast experience and know-how in sectors such as Telecom, Banking, management and Media, UnderRock provides extensive and comprehensive business solutions such as consultancy, guidance and operational assistance to companies or organizations from both private and public sector whilst seeking for the latest and most disruptive opportunities to leverage their clients solutions in a fast changing business environment.
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Contacts
Press Contact OurCrowd: Leah Stern, Vice President Communications, [email protected], +44 747 019 6826
Press Contact UnderRock Investments: Miguel Horta e Costa, Underrock Managing Partner, [email protected]
