GE Ventures embraced crowdfunding today by partnering with OurCrowd, an Israeli crowdfunding platform. The two groups plan to co-invest in early stage companies.
GE Ventures is General Electric's venture capital wing. Since its launching in May 2013, the Silicon Valley-based company has planned to invest a yearly amont USD150 million in energy, advanced manufactuing, healthcare, and software companies.
According to the its CEO Sue Siegel, the OurCrowd partnership will give GE Ventures more access to early innovation and company discovery.
OurCrowd provides an equity crowdfunding platform made exclusively for investors who need to invest a minimum of USD10,000 for every deal. From its launching on October 2012 up to date, it has raised more than USD24 million for its 28 portfolio companies. The biggest was the USD2.1 million funding for NativeFlow, a Tel-Aviv provider of data protection for mobile devices.
OurCrowd has plans to expand overseas. But for the meantime, it will focus on Israel.
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