Hustler Words – In a poignant twist of fate, Jon Medved, a towering figure in Israel’s venture capital landscape, finds himself relying on the very health technology startups he once championed. Diagnosed with Amyotrophic Lateral Sclerosis (ALS), a devastating neurological condition, Medved’s personal battle has become an unexpected testament to the innovative power of the ecosystem he helped cultivate.
The closely-connected Israeli startup community was shaken in October when Medved, renowned as one of its most influential VCs, announced his immediate retirement. The diagnosis of ALS, also known as Lou Gehrig’s disease, compelled him to step down from OurCrowd, the pioneering firm he founded. This crippling disease progressively degrades the brain’s motor neurons, leading to a loss of muscle control that eventually impairs essential functions like walking, speaking, eating, and breathing.
"This has come rather suddenly," Medved shared in an audibly hoarse voice during what he indicated might be his final interview with Hustler Words – a symptom indicative of his condition. He recounted a period of unexplained illness, stating, "I had been feeling a little weird before and they didn’t know what was ailing me. 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." Unlike typical presentations, Medved’s voice was affected first, rather than his extremities, though he acknowledges the inevitable progression of the incurable condition, for which only therapies exist.
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Medved is widely regarded as one of the architects of Israel’s "Startup Nation" phenomenon. After relocating from California to Israel in his twenties, he founded and successfully exited several technology companies before transitioning into the investment world. In 2013, he established OurCrowd, revolutionizing venture capital by introducing a crowdsourced model that opened limited partnerships to accredited investors globally.
OurCrowd’s innovative approach attracted a vast network of 240,000 accredited investor LPs across 195 countries, including a diverse group of professionals and individuals previously excluded from traditional VC wealth generation. The firm boasts an impressive portfolio, having backed high-profile names such as Anthropic, Beyond Meat, and Lemonade. Medved proudly describes OurCrowd as a "significant player," supporting approximately 500 portfolio companies and achieving 74 successful exits, including the recent $525 million acquisition of infrastructure planning startup Locusview by Itron.
Despite the ongoing conflict in Gaza and its humanitarian ramifications, Israel’s vibrant startup ecosystem has demonstrated remarkable resilience. As the "startup nation," it remains a global hub for cybersecurity, defense tech, AI, microchips, enterprise software, food tech, and health tech. Medved highlighted this strength, noting an impressive "$800 million invested in the Israeli venture ecosystem in one week" in November. The country now hosts nearly 100 unicorns, with an estimated $15 billion to $16 billion invested in venture deals annually.
Now, the very technologies nurtured by this robust ecosystem are poised to directly enhance Medved’s quality of life. He has already witnessed the power of these innovations firsthand. For instance, an avatar, a "digital twin," has been created to preserve his voice, facial expressions, and mannerisms. This groundbreaking system was developed through a collaboration between OurCrowd AI portfolio company D-ID, a leader in agents and avatars, voice AI startup ElevenLabs, and other partners via the ALS-focused Scott-Morgan Foundation. Medved recently experienced this technology during a Zoom call with another ALS patient who was using a similar avatar to communicate.
"So this stuff has become very, very personal to me," Medved emphasized. "It will preserve my voice when it goes." Beyond this, he anticipates leveraging a range of other health tech solutions from OurCrowd’s extensive portfolio. He listed examples such as OncoHost, an AI-driven company that assists in selecting effective immunotherapies, firms specializing in next-generation genome sequencing, and those focused on chronic condition management.
Medved’s perspective has profoundly shifted since his diagnosis. "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," he reflected.
Despite stepping down from his leadership role, Medved remains resolute in his commitment. "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 concluded by expressing immense pride in OurCrowd’s contribution, stating, "I’m very proud that in a small way, even though all we are is investors, to be part of this movement." A video showcasing Medved’s digital twin vividly illustrates the remarkable realism achieved by this cutting-edge technology.
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