ALS & Tech Hope: Venture Capitalist Jon Medved Invests in His Future – A Story of Resilience and Innovation
For years, Jon Medved, a prominent venture capitalist, dedicated his career to backing groundbreaking health tech startups. Little did he know that his investment philosophy would one day become deeply personal, a lifeline in his own battle against a devastating illness. This is the story of how a leader in Israel’s vibrant startup ecosystem, often called “Startup Nation,” is facing Amyotrophic Lateral Sclerosis (ALS) – also known as Lou Gehrig’s disease – and finding hope in the very technologies he helped foster.
A Sudden Diagnosis and a Forced Retirement
In October, the Israeli startup community was shaken by the unexpected announcement of Jon Medved’s immediate retirement. The founder of OurCrowd, a pioneering crowdsourced venture capital firm, was compelled to step down after receiving a diagnosis of ALS. “This has come rather sudden,” he shared in a recent interview with GearTech, his voice already noticeably affected by the disease – a symptom often appearing before motor function is impacted.
“I had been feeling a little weird before and they didn’t know what was ailing me,” Medved explained. “I was in the hospital for several weeks recovering, and that’s when they tested me and said, ‘You’ve got ALS,’ which is a horrible disease, the worst you can imagine.” ALS progressively degrades motor neurons in the brain, leading to muscle weakness, difficulty with physical tasks like walking and speaking, and ultimately, impacting vital functions like eating and breathing. While Medved’s initial symptoms differed from the typical presentation, he understands the relentless progression of the disease and the lack of a definitive cure.
The Architect of Israel’s Startup Nation
Jon Medved is widely regarded as a founding father of Israel’s thriving startup ecosystem. After relocating from California to Israel in his 20s, he successfully founded and sold several tech companies before transitioning into venture capital. His vision and dedication played a crucial role in establishing Israel as a global hub for innovation.
OurCrowd: Democratizing Venture Capital
In 2013, Medved founded OurCrowd, a firm that revolutionized venture capital by opening limited partnerships to accredited investors worldwide. Unlike traditional VC firms, OurCrowd embraced a crowdsourced model, allowing a broader range of individuals – doctors, lawyers, and everyday investors – to participate in the wealth-generating opportunities typically reserved for institutional investors. This democratization of access has been a key differentiator for OurCrowd.
The firm’s network has grown to encompass 240,000 accredited investor LPs in 195 countries. OurCrowd has invested in high-profile companies like Anthropic, Beyond Meat, and Lemonade, demonstrating its ability to identify and support promising startups.
Medved proudly describes OurCrowd as a “significant player” with approximately 500 portfolio companies and 74 successful exits. A recent example is the sale of Locusview, an infrastructure planning startup, to Itron for $525 million.
Resilience Amidst Conflict: Israel’s Startup Ecosystem Remains Strong
Despite the ongoing conflict in Gaza and the resulting global attention on the humanitarian crisis, Israel’s startup ecosystem has demonstrated remarkable resilience. The country continues to be a leader in critical technologies, including cybersecurity, defense tech, artificial intelligence (AI), microchips, enterprise software, food tech, and health tech.
Medved highlighted the continued investment activity, noting that $800 million was invested in the Israeli venture ecosystem in a single week in November. He estimates that between $15 billion and $16 billion in venture capital was invested in Israel throughout the year, solidifying its position as a global innovation powerhouse. Currently, Israel boasts nearly 100 unicorn companies – privately held startups valued at over $1 billion.
Tech to the Rescue: Leveraging Innovation for ALS Management
Ironically, the very technologies that Medved championed as an investor are now providing him with tools to navigate life with ALS. He’s actively exploring and utilizing advancements in AI and digital health to maintain his quality of life and preserve his legacy.
The Digital Twin: Preserving Voice and Identity
One remarkable example is the creation of a highly realistic digital twin – an avatar that replicates his voice, facial expressions, and mannerisms. This was made possible through a partnership between OurCrowd AI portfolio company D-ID, a creator of agents and avatars, voice AI startup ElevenLabs, and the ALS-focused Scott-Morgan Foundation. The system is designed to enable individuals with ALS to communicate effectively as their physical abilities decline.
Medved recently experienced the technology firsthand during a Zoom call with another person living with ALS, who was using the avatar to communicate. “So this stuff has become very, very personal to me,” he shared. “It will preserve my voice when it goes.”
A Portfolio of Hope: Health Tech Investments
Beyond the digital twin, Medved anticipates relying on a range of technologies from OurCrowd’s healthcare investments. “We’ve made 60, 70 healthcare investments in good companies that help people,” he stated. These include:
- OncoHost: Utilizing AI to personalize immunotherapy treatment selection for cancer patients.
- Next-Generation Sequencing Companies: Advancing genomic research and personalized medicine.
- Chronic Condition Management Companies: Developing solutions for managing long-term health challenges.
“I tell you now as a once-healthy person [who took health for granted] I felt human pain and disease, but once you are actually engaged in one of these nasty diseases, it changes your perspective,” Medved reflected.
A Continued Commitment to the Ecosystem
Despite stepping down from his leadership role at OurCrowd, Medved remains deeply committed to the startup ecosystem. He intends to continue contributing to OurCrowd and the broader innovation landscape. “I’m far from over, ok? I want to continue to contribute, both to OurCrowd and the overall ecosystem. So I fully intend to not go off [quietly] into this good night.”
He concludes with a sense of pride, stating, “I’m very proud that in a small way, even though all we are is investors, to be part of this movement.” The video showcasing Medved’s digital twin serves as a powerful testament to the potential of technology to empower individuals facing challenging circumstances and underscores the enduring legacy of a visionary venture capitalist.
Keywords: ALS, Jon Medved, OurCrowd, Venture Capital, Health Tech, Israel Startup Ecosystem, Digital Twin, D-ID, ElevenLabs, Scott-Morgan Foundation, AI, Innovation, Startup Nation.