GE becomes first corporate partner for equity crowdfunding in OurCrowd deal
Crowd-sourcing platform OurCrowd on Monday announced General Electric’s venture-capital unit, GE Ventures, has signed on as the first corporate funder for the platform.
“We do a lot of intelligence screening and work, and that value proposition is the same for an individual as it is for a giant corporation,” OurCrowd CEO Jon Medved told The Jerusalem Post.
Under the terms of the agreement, GE Ventures will be able to invest in Our- Crowd’s early-stage companies, which span the areas of energy, health care, software and advanced manufacturing, alongside OurCrowd’s other approved investors.
Medved said he believes GE’s decision to become an Our- Crowd investor is the first time a major corporation has joined a crowd-funding investment firm, but it will not be the last.
“We don’t intend that they’ll be our last corporate partner,” Medved said, adding that Our- Crowd was in talks to bring other corporations on board.