Equity crowdfunding platform OurCrowd has launched a $100 million fund called Cognitiv to invest in AI, deep learning, IoT, robotics, and digital manufacturing startups.
The Israeli fund is led by partners Avi Reichental (former CEO of 3D Systems), Eduardo Shoval, and Yori Nelken. Shoval and Nelken previously led the OurCrowd First fund.
Cognitiv focus is “at the intersection of tech disruption and wealth creation”, said Jon Medved, CEO of OurCrowd.
“This growth from $12 million under management to a proposed new $100 million fund is reflective of the rapid and dramatic growth of the fund management business within the OurCrowd platform and underscores our expanding global reach and the power and vibrancy of our unique ecosystem.”
Some of OurCrowd’s portfolio companies include a number of AI and digital health startups like Zebra Medical Vision and TechSee, alongside other investors like Softbank and Marc Benioff, CEO of Salesforce.
“Having built successful businesses ourselves, we understand that what looked impossible just yesterday, is fast becoming tomorrow’s reality. That is why we are seeding and scaling the very businesses that we believe are harnessing the power of cognitive technology to become tomorrow’s category leaders,” said Avi Reichental.
OurCrowd itself has raised over $25 million in VC funding since it was founded in Jerusalem in 2013.