The South Korean government has selected Israeli online investment platform, OurCrowd, as a co-manager of a joint fund that aims to invest in DeepTech startups. The NHOC Global Open Innovation fund plans to raise $80 million, with $48 million already raised by the fund’s Korean partners, NH Venture Investment and K-Growth.
OurCrowd CEO John Medved stated that the creation of the Israel-Korea bilateral fund with the support of the South Korean government is an excellent opportunity for Israeli high tech. In addition to the fund’s investments, Israeli DeepTech companies will gain direct access to South Korean industrial giants and establish cooperation on a global scale.
The goal of the fund is to invest in around 30 startups from both countries, focusing on technologies such as robotics, cybersecurity, and digital health. With this partnership, Israeli startups will have access to not only funding but also valuable resources and connections that can help them succeed on a global stage.