GE enters the crowdfunding arena with OurCrowd partnership
Crowdfunding is growing up.
GE Ventures, the venture capital wing of General Electric, today entered a co-investment partnership with Israeli crowdfunding platform OurCrowd that will enable GE Ventures to co-invest with OurCrowd in select early stage companies.
Launched in May 2013, Silicon Valley-based GE Ventures plans to invest $150 million annually across energy, healthcare, software, and advanced manufacturing companies. Between the GE brand and its substantial capital pool, GE Ventures could probably snag any investment it wants through traditional channels — but the OurCrowd partnership demonstrates GE’s confidence in crowdfunding as a valuable method for company discovery.
“OurCrowd has created a unique platform for dynamic early stage origination and funding,” said GE Ventures CEO Sue Siegel in a statement. “They offer a quality investment environment, and the partnership will give GE increased access to early innovation.”