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HNWIs get new AI fund

HNWIs get new AI fund

OurCrowd, an equity crowdfunding platform has launched a new $100 million global fund for accredited investors.

The fund - Cognitiv - is focused on early stage companies that leverage artificial intelligence (AI), deep-learning, Internet of Thing, robotics, and digital manufacturing.

It is the 12th fund to launch for funding on OurCrowd’s platform and will give investors access to approximately 20 companies, with initial investments in EquityX, KolGene, and FreshKeep.

Cognitiv comes after OurCrowd First, an early-stage fund which raised approximately $12 million, closing in May 2016.

Companies include deep learning imaging company Zebra Medical Vision, Ag-Tech disruptors Taranis and Centaur, AI powered visual service providers TechSee and Ultrafast, 3D printing company Nexa3D, to name a few.

‘AI powered transformation is poised to disrupt and automate every sector in business – from healthcare and financial services to agriculture and manufacturing and could create the largest transfer of wealth in recorded history,’ said Avi Reichental, general partner at Cognitiv.

Based in Jerusalem, OurCrowd has an office in Singapore. So far, it has raised over $500 million and invested in 130 portfolio companies and funds.

Last November, the firm hired Roland Wee as managing director for the company’s Asia operations.

Wee comes from HSBC where he served as managing director, and separately CEO of HSBC Securities Singapore.

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