OurCrowd today announced the launch of Cognitiv, a specialized $100 million global fund focused on early-stage companies that leverage AI, deep-learning, IoT, robotics and digital manufacturing to become tomorrow’s category leaders. Cognitiv 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 is a direct result of the success of OurCrowd First, the first fund entry by OurCrowd, raising approximately $12 million, closing in May 2016. Cognitiv is led by three storied entrepreneurs, collectively responsible for creating value in the billions of dollars. Cognitiv’s newest General Partner, Avi Reichental is the former President and Chief Executive Officer of 3D Systems, (NYSE:DDD) and brings decades of executive leadership in late stage global corporations. Reichental partnered with OurCrowd First’s Eduardo Shoval and Yori Nelken, both of whom come with highly successful track records in early-stage company-building and investment.
“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. “Having built successful businesses ourselves, we understand that what looked impossible just yesterday, is fast becoming tomorrow’s reality. That is why we are seeding and scaling the very businesses that we believe are harnessing the power of cognitive technology to become tomorrow’s category leaders.”
“We are thrilled to partner with Cognitiv and once again work together with Eduardo, Yori and Avi to launch a fund that is at the intersection of tech disruption and wealth creation,” said Jon Medved, OurCrowd Founder & CEO. “This growth from $12 million under management to a proposed new $100 million fund is reflective of the rapid and dramatic growth of the fund management business within the OurCrowd platform and underscores our expanding global reach and the power and vibrancy of our unique ecosystem.”
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