Jon Medved, the founder of Israel’s OurCrowd investment platform, will step down as Chief Executive Officer (CEO) and transition to the role of Chairman. The company announced this change on Tuesday, October 21, citing Medved's health issues as the reason for the shift.

At 70 years old, Medved established OurCrowd in 2012 and has since built it into one of Israel's largest venture capital firms within the thriving technology sector.

Following his transition to Chairman, Medved will focus on strategic matters, including fostering OurCrowd's global expansion. Cali Chill has been appointed as the interim CEO and Chief Operating Officer (COO) effective immediately, tasked with overseeing the company's daily operations.

The announcement noted that Medved, who has been deeply involved in Israel's tech industry for over 40 years, was recently diagnosed with a neurodegenerative disease – Amyotrophic Lateral Sclerosis (ALS), commonly known as "Lou Gehrig’s disease." He is currently in the rehabilitation stage and will work from home in his new capacity as Chairman.

To date, OurCrowd manages assets exceeding $2.6 billion, with over 68 funds and investments in 500 portfolio companies, including 73 exits through IPOs and mergers and acquisitions.

Chill has been with OurCrowd for 7 years, previously serving as Chief Investment Officer (CIO) and Chairman of the Investment Committee.