JERUSALEM, Nov 19 (Reuters) - Israeli venture investment firm OurCrowd said on Thursday that Japanese leasing and financial services group Orix Corp 8591.T has taken an undisclosed stake in the company with a strategic investment of $60 million.
This is Orix's first collaboration with Israel’s startup sector, with OurCrowd aiming to provide Orix access to a wide variety of innovative technologies and companies, it said.
Under terms of the deal, Orix and OurCrowd will establish financial products and investment opportunities suited for the Japanese and global markets, including access to both venture capital funds and individual portfolio companies.
Japan-Israel trade has increased significantly in recent years. Japan has become one of the largest investors in Israeli tech, with more than 90 Japanese companies active in Israel, OurCrowd noted.
It said it will work with Orix to increase cooperation further between Israel and Japan and boost opportunities for Israeli startups throughout Asia.
"We intend to be active partners with OurCrowd and help them accelerate their already impressive growth, while bringing the best of Israeli tech to Japan’s large industrial and financial sectors," Kiyoshi Habiro, CEO of Orix UK, said in a statement.
OurCrowd CEO Jon Medved said the deal has the potential to further transform the venture capital asset class and "provide a strong bridge for our innovative companies to the important Asian markets".
(Reporting by Steven Scheer Editing by Jeffrey Heller)
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