our crowdGlobal crowdfunding venture firm today announced its latest fund. As the organization announced today at the Clinton Global Initiative event in New York, WHO Foundation We plan to launch a Global Health Equity Fund (GHEF). This is his $200 million fund focused on healthcare solutions that have the potential to impact the world.
Even before the pandemic, OurCrowd had been investing in healthcare startups for a long time, but that only accelerated during the pandemic, and as far as I can tell, it’s the company’s founder and CEO, John Medved. It is also a personal mission. “COVID-19 was a wake-up call for me as an investor,” he said. “The pandemic has brought attention to health inequalities around the world and enhanced the potential for life-saving innovative technologies. […] This new fund clearly aspires to be influential, based on its success. Working with the WHO Foundation will enable us to identify even more exciting investments and facilitate equitable access for investors and entrepreneurs to the technologies we support. “
While the fund is focused on healthcare, management here is looking beyond healthcare startups to include other areas that may have an indirect impact on health, such as energy and agriculture. have a vision
OurCrowd aligns its funding with the WHO Foundation’s Access Pledge. The idea here is for portfolio companies to make solutions accessible to those experiencing injustice. Specifically, this means that GHEF portfolio companies will develop an access plan for the solution, and the WHO Foundation and OurCrowd will set up an advisory board to provide the necessary support to do so. After all, this is not what most startups are used to. It’s also not something most investment funds want you to focus on. But especially in healthcare, this seems like the right thing to do.
Anil Soni, CEO of the WHO Foundation, said: “Even though we have a clear model for balancing economic gains with equitable access, including the provision of medicines to treat HIV and AIDS. Regardless, the world has failed to deliver COVID-19 solutions to everyone everywhere: “In response to that failure, we have responded by directing investments towards innovation, aligning both equitably with goals from the beginning, and so on. , it is imperative to deploy a solution.”
OurCrowd CEO Medved will lead the fund’s team alongside OurCrowd’s Managing Partner Morris Laster and the company’s team of clinical experts, with support also provided by Geetha Tharmaratnam, Head of Impact Investing at the WHO Foundation.
At this time, OurCrowd has invested in approximately 350 companies across 39 funds for over 215,000 members, making it one of Israel’s most active investors. Other healthcare-focused investments include Alpha Tau Medical, which focuses on treating solid malignancies, and BrainQ, a non-invasive technology to treat stroke and other neurological conditions.