Group 11’s fifth fund, the funding agency of serial entrepreneur Dovi Frances, one of many stars of Sharks – the Israeli TV model of Shark Tank – has offered a report of shrinking funds underneath administration and efficiency. Group 11 immediately reported complete property underneath administration of $191.7 million in all portfolio firms, down 8.4% from complete property of $208.7 million reported final yr. Group 11 publishes solely annual reviews.
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Regardless of this, complete liabilities elevated and nearly doubled, because of the administration firm’s prices from $4.9 million to $8.8 million, whereas income from gross sales and IPOs have been nearly zero. Administration charges – didn’t change and amounted to $3.72 million, up from $3.5 million final yr.
Group 11’s fifth fund was raised on the top of the hype throughout the Covid tech bubble in November 2021. On the time, as a way to fulfill capital market and institutional buyers, Frances determined to make the fund extra clear and submit quarterly reviews. The corporate now submits solely annual reviews, a observe Frances launched with the sixth fund it raised a yr later and which continues to spend money on startups.
In keeping with the enterprise capital fund web site PitchBook, Group 11’s fifth fund raised $197 million, now value, as reported immediately, solely $191.7 million. The valuation of the property stems from the person valuation of every of the businesses – thus far the fund has not yielded main successes, aside from Sunbit, which is taken into account a promising unicorn, and Lili, a progress firm. Nonetheless, it’s nonetheless too early to find out – enterprise capital funds look at success after a interval of seven years, and in keeping with estimates, a lot of the funds raised in 2021 haven’t but proven a return, as a result of a number of months later, in Could 2022, the disaster within the tech trade broke out after rate of interest hikes.. Among the many investments of the fifth fund, firms equivalent to: Masterschool, Healthee, SMBX, Sorbet, Venn. Lili and Sunbit. Amongst its institutional buyers: Hashchara Insurance coverage, Harel, Menora Mivtachim, Migdal, Mor, New Mivtachim, and True Capital Administration.
Printed by Globes, Israel enterprise information – en.globes.co.il – on Could 13, 2025.
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