The Israeli Or Crowd Company obtains a license to operate in the United Arab Emirates

Or Crowd, one of the largest companies in venture capital, said Monday that it has obtained approval and a license to operate in the United Arab Emirates.

The company said it became the first investment company in venture capital to obtain a license from Abu Dhabi Global Market, Abu Dhabi’s main international financial center.

Our Crowd Management (Arabia) Limited will act as the fund manager in compliance with the rules of the Financial Services Regulator of the Market.

This move comes after the normalization of relations between Israel and the UAE last year.

The company’s chief executive, John Medved, said it would in able to raise funds in the UAE, promote new local companies in the UAE and the region to its 160,000 customers in around the world and “to lead global investments in the new dynamic business system of the United Arab Emirates. This is an important step towards the development of the business of Our Crowd in the Emirates.

Or Crowd’s partner in the UAE, Sabah Al-Binali, said the company will be in able to set up venture capital funds in the Abu Dhabi global market to invest in emerging technology companies in the UAE and the region.

“Our main focus in the initial phase will be on the agricultural, financial and medical technology sectors,” he added.

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