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Global Investment Platform our crowdNow the most active venture capital firm in Israel, announced today that it will expand its presence in Abu Dhabi with the launch of a new office and AI technology center – powered by Abu Dhabi Investment Office – in the emirate. In total, OurCrowd plans to invest $60 million as part of the move.
It’s been just over two years since Israel and the United Arab Emirates normalized diplomatic relations, but OurCrowd was one of the first companies to apply for a license to operate in the emirate. OurCrowd Arabia opens in Abu Dhabi in 2021, and its new investment center in the country will manage deals there and cater to its investors in emerging markets. The company expects to have a total of 60 employees in the emirate.
“After searching globally for the most suitable location for IDI and OurCrowd’s new investment hub, Abu Dhabi was by far the most suitable destination,” said Jon Medved, CEO and Founder of OurCrowd. “The World Economic Forum ranks the UAE as the world’s best e-infrastructure and number one for macroeconomic stability, as well as the third most trusted government. These factors, along with a host of other strengths, including global talent and market access, underscore the This is why Abu Dhabi is now home to OurCrowd Arabia and OurCrowd’s new AI spinoff, and why we will continue to invest in the country’s innovation infrastructure and talent.”
Earlier this month, OurCrowd celebrated surpassing $2 billion in total investment commitments, just over three years after it hit the market $1 billion. The firm has invested in 370 companies and another 410 companies are held through cooperative funds. It has had 60 exits so far and currently hosts some 220,000 registered investors from 195 countries.
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