OurCrowd has partnered with Social Finance Israel to Launch Impact Fund Targeting $30m investments. The fund will focus on venture-backed businesses addressing the UN Sustainable Development Goals.
Impact investing is a rapidly growing market in Israel. Though still in its early stages; it doubled from $130M in 2016 to $260M in 2018 and will continue to grow as OurCrowd’s new Impact Fund provides new opportunity for investors.
Further growth appears imminent with $1.6B raised by Israeli companies in “impact related” sectors (sectors aligned to the UN Sustainable Development Goals, e.g. cleantech, health, ag-tech, etc.) across 234 deals in 2018, according to IVC Research Center.
“OurCrowd has a long history of making impact driven investments and a wealth of expertise in fund creation,” said OurCrowd Co-Head of Funds, Richard Norman. “Today we are proud to bring these two hallmarks of OurCrowd together and offer investors a dedicated, diversified vehicle of VC-backed businesses striving to tackle some of the world’s greatest challenges.”
Once companies are selected into the fund, Social Finance Israel and OurCrowd will work with companies to establish appropriate impact KPIs and an impact reporting framework. Both firms will also provide guidance on partnerships and business development opportunities that companies can integrate in order to deepen and hone their impact.
The Impact Fund will provide diversified exposure to impact-driven businesses like OurCrowd portfolio companies, provided they meet a set of impact practices and criteria outlined in Social Finance Israel’s deal assessment tool, startups such as:
UPnRIDE: all-terrain electric wheelchair that enables standing
JUMP: smart bike-sharing platform (acquired by Uber)
Zebra Medical Vision: algorithm-based assistance for radiologists
Edgybees: AR software for rescue drone applications
CropX : app-oriented sensors for irrigation and fertilization