Venture capital moving away from traditional sectors

Venture capital is experiencing a shift away from traditional sectors like cybersecurity and telecommunications, with investors now directing their funds towards disruptive innovations in foodtech, medtech, and agritech. Jonathan Medved, the CEO of OurCrowd, recently sat down with CNBC Africa to discuss this emerging trend and shed light on the exciting opportunities in these new investment areas. Medved revealed that OurCrowd has already invested over a hundred million dollars in foodtech and is in the process of raising another hundred million dollar fund. He expressed confidence in the potential of foodtech, predicting that over the next decade, he will invest up to a billion dollars in the sector. One of their successful investments was in Beyond Meat, a company that revolutionized food tech in the U.S. by going public and generating substantial returns for investors. Despite the recent stock fluctuations, the momentum in foodtech remains strong. OurCrowd has also diversified its portfolio to include next-generation alternative proteins such as eggs and milk, with companies like ReMilk leading the way in creating milk through an innovative industrial process that is cost-effective, environmentally friendly, and health-conscious. Medved highlighted the importance of space technology in Africa, where access to high-quality data is crucial for areas lacking urbanization and communication infrastructure. Edgy Bees, an OurCrowd portfolio company, is enhancing satellite imagery resolution by a factor of 10, allowing for clearer and more detailed data collection. Another promising sector that Medved discussed is health tech and medtech, emphasizing the attractiveness of startups in this space. He cited Cytoreason as an example of a company leveraging artificial intelligence to streamline drug development processes and significantly reduce costs. By signing a hefty deal with Pfizer and collaborating with the World Health Organization Foundation on a global health equity fund, Cytoreason is paving the way for equitable access to innovative healthcare solutions worldwide. Medved's enthusiasm for investing in Africa was palpable during the interview. He criticized the shortsightedness of some investors who overlook the continent's immense potential, emphasizing Africa's young population, rapid modernization, and pervasive cellular connectivity as key indicators of its growth trajectory. Medved firmly asserted that investing in Africa is not just wise but essential for long-term success, with predicted unicorn growth and burgeoning opportunities in various sectors by 2030. The CEO stressed the importance of fostering partnerships and collaborations between Israeli and African investors, highlighting OurCrowd's commitment to building meaningful and mutually beneficial relationships. With a focus on shared goals and genuine engagement, Medved envisions a future where strategic alliances between different regions drive innovation, growth, and prosperity.