By Moriah Costa on Thursday 16 February 2017
The platform is opening an office in Taipei as Asian investors increase their interest in equity crowdfunding.
Jerusalem-based crowdfunding platform OurCrowd is continuing its expansion into the Asian market by opening a Taiwan office and launching a partnership with Shanghai Commercial & Savings Bank (SCSB).
The bank is the first Taiwanese bank to receive regulatory approval to invest in a foreign equity crowdfunding platform.
“We see Taiwan as one of the major technology and innovation centres in the world and are excited to be partnering with one of Taiwan's leading banks, SCSB,” said Jon Medved, founder and CEO of OurCrowd.
The expansion into Taiwan follows the firm’s move into Singapore in November. The firm now has eight offices worldwide.
The firm’s development into Asia will help Taiwanese small and medium size enterprises receive funding, as well as help Israeli tech expand into global markets, said Denes Ban, OurCrowd’s managing partner Asia, who will lead the expansion into Taiwan.
The firm closed a $72m Series C. in 2016, including investments from financial institutions, family offices and private investors.
The platform has invested over $400m from 17,000 investors into 110 portfolio companies and funds across various sectors, including cybersecurity, digital health and big data. The crowdfunder has had 13 exits, two IPO’s and eleven acquisitions since its founding in 2013.