Israel's OurCrowd makes first Chinese investment

Denes Ban Photo: PR

The Jerusalem-based venture capital platform participated in the nearly $60 million financing round of Chinese in-destination service booking platform company Klook.

Israeli venture capital platform OurCrowd has made its first Chinese investment, participating in the nearly $60 million financing round of Chinese in-destination service booking platform company Klook. The Series C financing was led by Sequoia China, Goldman Sachs and existing investor Matrix Partners.

OurCrowd Managing Partner Asia and head of OurCrowd’s Singapore management company Denes Ban said: “OurCrowd is excited to make our first investment in Greater China in Klook, a leader in the Asian in-destination travel space. The investment further solidifies Israel’s pivot towards Asia, and in such an exciting sector. ln-destination travel services is the segment with the largest business potential in online tourism. OurCrowd is pleased to co-invest alongside top VCs and this represents a unique investment opportunity for our high net-worth investors in Asia and beyond. We plan to leverage our unparalleled access to Israeli frontier tech such as AI to help Klook in its further development of travel tech.”

Jerusalem based OurCrowd manages over $450 million in assets from family offices and high net worth individuals from over 100 countries. Managed by a team of investment professionals based in Israel and led by serial entrepreneur Jon Medved, OurCrowd vets and selects opportunities, invests its own capital, and brings companies to its accredited membership of global investors.

Over the past year, OurCrowd has opened offices in Singapore, Taiwan and Madrid and launched a strategic network of 25 major global corporations including Honda, GE, Samsung Ventures Israel, Intuit, SAP, Autodesk,and YESBank.

Published by Globes [online], Israel business news - www.globes-online.com - on October 25, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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Denes Ban Photo: PR
Denes Ban Photo: PR
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