A brief personnel update on Israeli equity crowdfunding firm OurCrowd, which has appointed a new Chief Exit Officer (CXO).
Joel Maryles, a 30 year veteran of Wall Street, has assumed the newly formed title. Mr. Maryles has been involved in $20bn of transactions for a range of prominent Israeli tech companies. He founded Citigroup’s Israel Investment Banking operations and spent a decade managing it. During his time in this role Mr. Maryles closed over sixty transactions, including IPOs, follow-on equity offerings and various merger and acquisitions.
It’s an appointment that bodes well for the platform’s rapidly expanding base of accredited investors. OurCrowd is currently the only equity crowdfunder to have delivered a successful exit via IPO (excluding the Mill Residential REIT that was funded via SyndicateRoom). ReWalk Robotics, twice-funded through the OurCrowd site and now traded on the NASDAQ, became an overnight poster-child for the equity crowdfunding space upon going public – swelling the value of the associated OurCrowd investors by a multiple of 5.5. Are we poised for more of the same?
Jon Medved, CEO of OurCrowd, offered his thoughts:
"With the addition of Joel Maryles we continue to build our team of extraordinary professionals with strong backgrounds. Joel will provide our portfolio of 60 startups with significant access to Wall Street and strategic finance expertise, and help them navigate the road to exit.”
Mr. Maryles himself also commented:
"I have had the pleasure for thirty years to work with and invest in leading-edge technology and healthcare companies, both in Israel and the US. OurCrowd has built an impressive stable of companies with exciting technology and bright prospects. I look forward to working with these companies, drawing upon the knowledge and experience that I have gathered over my career on Wall Street, to help them grow and achieve their goals.”