JERUSALEM (Reuters) – NTT Finance said Tuesday it has set up an investment vehicle that will invest in Israeli startup technology from the portfolio of venture company OurCrowd.
NTT Finance, a subsidiary of NTT Group or Nippon Telegraph and Telephone, said it will bring in $ 15 million into OurCrowd’s portfolio through the vehicle, known as NTT Finance Israel LP.
OurCrowd will provide NTT with early access to their contract streaming pipeline that equips Israeli companies with technologies such as artificial intelligence and self-driving cars, NTT and OurCrowd said in a joint release.
“NTT Finance will contribute to the continuation of business growth for both NTT Group and startups in Israel, enabling potential opportunities to launch collaborations between their businesses, through expansion venture investments in IT start-ups, ”said NTT Finance President Yoshikiyo Sakai.
OurCrowd has over $ 1.5 billion in pledges and has invested in more than 240 companies and 25 funds.
Reporting by Steven Scheer; Edited by Rami Ayyub