UOB to invest US$10m in Israel-based OurCrowd

Singapore

UOB has become the first Asian bank to partner an equity crowdfunding (ECF) operator to provide ECF services in Asia, through which SMEs and startups can seek investments from accredited investors (AIs) in return for shares.

UOB will invest US$10 million in OurCrowd, an Israel-based venture capital (VC) and ECF platform, for an undisclosed equity stake and limited partner position, BT has learnt. Together with Sassoon Investment Corporation, the private investment holding company of the Singapore-based Sassoon family, UOB will support OurCrowd's foray into Asia.