Partnership created to develop tech investment ties between Gulf region and Israel

Published 07 Oct,2020 via bizbahrain - OurCrowd, the world’s largest global venture investing platform, signed a memorandum of understanding with Phoenix, a business development company, to increase business and tech ties between Israel and the United Arab Emirates. This is the first announced alliance between a top-ranked UAE corporation and a major Israeli venture investment firm.

Founded by Jonathan Medved, OurCrowd is a global leader in equity crowdfunding and Israel’s most active venture investor with $1.5B of committed funding. OurCrowd will identify and support UAE-based startups seeking growth and development in Israel, as well as leverage its diverse portfolio of 220 companies to enhance business development for UAE startups seeking to collaborate on innovative solutions. OurCrowd’s UAE expansion will be led by Dr. Sabah al-Binali, newly appointed Venture Partner and Head of the Gulf Region for OurCrowd.

Phoenix, spearheaded by Abdullah S Al Naboodah, Chairman of Al Naboodah Investments LLC, will serve as an investment platform for individuals and family offices located in the Gulf seeking opportunities to invest in the Israeli tech ecosystem. Phoenix will enable investors to access OurCrowd’s vast array of tech investment opportunities across a variety of sectors including AgriTech, EdTech, HealthTech, Artificial Intelligence, Robotics and more. Phoenix will also introduce OurCrowd to Gulf-based startups with the aim of raising investment through OurCrowd’s platform. Leveraging its cross-industry reach, Phoenix will also assist Israeli-based startups with potential partners in the Gulf region.