Global venture capital investment platform OurCrowd has appointed Apex to provide fund services, transfer agency and custody services to its recently launched global venture capital fund, OurCrowd 50 (OC50).
Formed in 2013, OurCrowd is based in Israel and has deployed over US$1.8 billion in committed capital to date.
OC50 is an investment vehicle giving investors exposure to global venture backed assets across a mix of sectors.
Apex’s mandate with OurCrowd follows a series of fund administration mandates by Apex in the Oceania and Asia Pacific regions, including Perennial Partners and New Forests.
These mandates come after the acquisitions of Australia-based Mainstream Group, and New-Zealand-based MMC.
Commenting on the mandate with OurCrowd, Nick Bradford, head of business development, Oceania at Apex, comments: “We are delighted to be working with a fund of OurCrowd’s pedigree and outstanding performance record. As we see alternative assets continuing to attract investment from wholesale and high net-worthinvestors, our clients need administrators with the experience and technology to meet the varying reporting requirements of a larger number of investors.”
Dan Bennett, managing partner at OurCrowd Australia and Asia, comments: “We are pleased to appoint Apex as fund administrators for OC50, having been impressed by the depth of their experience supporting venture capital and private equity funds across various regulatory frameworks and fund structures. We are targeting Australian investors for this fund, and Apex will play an important role in supporting our relationships with them, by enabling timely and accurate reporting.”
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