OurCrowd, a Jerusalem-based investment platform, has launched the Pandemic Innovation Fund, with the plan to raise $100 million for investment in “urgent technological solutions” for the medical, business, educational and social needs resulting from global pandemics and other global emergencies.
“The rapid spread of the coronavirus has validated our vision of a connected digital world poised to solve any crisis through global communication and rapid response,” said OurCrowd CEO Jon Medved. “It’s time for tech to move fast and fix things.”
The fund will focus on the following three categories that span several sectors: prevention and containment (vaccines, testing, personal protection, etc.), treatment and healing (digital therapeutics, diagnostics, remote monitoring, etc.), continuity and disruption mitigation (remote working, distance learning, robotic process automation, home exercise, cybersecurity, etc.).
Investments will go to new startups and to select follow-on rounds of OurCrowd’s existing portfolio companies that are already working to mitigate effects of the coronavirus crisis, such as TytoCare, which recently raised $50 million from traditional VCs.
Founded in 2013, OurCrowd has built a network of 40,000 individual accredited and institutional investors, family offices and venture capital partners from over 183 countries, who can all co-invest simultaneously. To date, the platform has amassed $1.4 billion of committed funding and made investments in 200 portfolio companies and 20 venture funds.