Financial services provider Apex Group has been appointed to provide fund services to OurCrowd, a global venture capital investment platform.
Based in Israel, OurCrowd has deployed over $1.8 billion in committed capital since its formation in 2013. The firm recently launched its global venture capital fund, named OC50, which provides investors with exposure to global venture backed assets across various sectors and geographies.
OurCrowd has also set up an Australian Dollar unit trust for the first time, with Australian investors expected to comprise 12-25% of the raise.
Apex will provide fund administration, transfer agency and custody services to OC50, enabling OurCrowd to communicate with investors in a more transparent and efficient manner.
Nick Bradford, head of business development, Oceania at Apex Group, said: ““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 HNW investors, 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 & Asia, added: “We are pleased to appoint Apex as fund administrators for OC50, having been impressed by the depth of their experience supporting VC 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.”
The mandate is the latest in a string of deals for Apex Group in the Oceania and APAC regions, following mandates for Perennial Partners and New Forests, and the acquisitions of Australia’s Mainstream Group and New Zealand’s MMC.