GE Partners With CrowdFunding Site OurCrowd

Art by Mike Lucas

Art by Mike Lucas

BY Farhad Manjoo , GE Ventures has inked a formal partnership with Israeli crowdfunding site OurCrowd Ltd. that will see GE backing startups alongside the site’s other investors, and on the same terms, OurCrowd Chief Executive Jon Medved said. GE Ventures, the corporate investing wing of General Electric Co.GE -0.26%, told VentureWire at the beginning of the year that GE was launching a new initiative to fund startups at an earlier stage than the company has done in the past.

One of the nation’s largest newspaper companies is taking a venture-like approach to dragging the shrinking print business into the digital age. Digital First Ventures is looking for ways to enable newspapers to wring value from the remains of their business and has struck deals with five companies since its launch in January. ”It’s really taking more of a venture mindset and trying to use our asset base to create value in new and interesting ways,” says Managing Director Joe Anto.

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Also in today’s VentureWire, RallyPoint, an online career network geared at military personnel and veterans, has raised $5 million in Series A funds to develop a business modeled after LinkedIn but with features unique to its members…OrbiMed Advisors has raised $735 million for its largest venture capital partnership, surpassing its $550 million target and breaking with a trend toward smaller funds…and PathoGenetix Inc., maker of an automated system for bacterial identification to be used in food-safety testing, has raised a $10 million Series C round as it prepares to commercialize its technology.

source and more on

http://blogs.wsj.com/venturecapital/2013/11/04/the-daily-startup-ge-partners-with-crowdfunding-site-ourcrowd/

 

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