Hana Financial Group is one of the largest bank holding companies in South Korea and KEB Hana is the country’s most acclaimed Private Bank. Along with an equity stake for the bank in a cross section of current and future OurCrowd portfolio investments, OurCrowd and KEB Hana have entered into an MOU agreement to pursue cooperation in support of Korea’s innovation ecosystem, aimed at creating key relationships for Korea’s major corporations seeking technology solutions for the future.
“The hightech cooperation between Israel and South Korea is quickly evolving into an economic powerhouse,” said OurCrowd CEO Jon Medved.
“We are delighted to welcome KEB Hana to a front row seat at the table, as we provide diversification of venture capital opportunities across the globe to the bank, and ultimately to a wide audience of impressive corporations and accredited investors in South Korea. This latest step forward, in addition to the partnerships we have established in Korea, will help leverage incredible commercial potential as we deepen the interface between the two countries’ industrial collaborations in various hi-tech fields.”
Last year, OurCrowd and its seed stage incubator Labs/02, signed a collaboration agreement with two of South Korea’s leading venture capital firms, DTNI and Yozma Group Korea.
These agreements, facilitated by the Korea-Israel Industrial R&D Foundation, aimed at strengthening bilateral strategic collaboration, supporting investment partnerships, and focusing on rapidly growing deep-tech startups in both countries. OurCrowd plans to feature several innovative startups from South Korea as part of a special pavilion at the upcoming Global Investor Summit on March 7, 2019 in Jerusalem’s International Convention Center.
Since its entry into the Asian market in 2015, OurCrowd has positioned itself as a leading provider to the local market, offering valuable investment opportunities to regional investors, while also delivering global capital via its online platform into several startups from Hong Kong, Singapore, and India.
Other current partnerships in the region include United Overseas Bank in Singapore, Shanghai Commercial Savings Bank in Taiwan, Citic Pacific in Hong Kong, Reliance Private Client in India, and National Australia Bank. In May of 2018, OurCrowd announced its most recent investment, from Thailand’s Bangkok Bank. With its rapidly expanding presence, OurCrowd’s network effect has impacted international business development for startups and corporates across the region.
Source: Company Press Release
