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 introduced a report of shrinking funds beneath administration and efficiency. Group 11 at present reported complete belongings beneath administration of $191.7 million in all portfolio firms, down 8.4% from complete belongings of $208.7 million reported final 12 months. Group 11 publishes solely annual stories.
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Regardless of this, complete liabilities elevated and nearly doubled, as a result of administration firm’s prices from $4.9 million to $8.8 million, whereas income from gross sales and IPOs had been nearly zero. Administration charges – didn’t change and amounted to $3.72 million, up from $3.5 million final 12 months.
Group 11’s fifth fund was raised on the peak 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 stories. The corporate now submits solely annual stories, a observe Frances launched with the sixth fund it raised a 12 months later and which continues to spend money on startups.
In accordance with the enterprise capital fund web site PitchBook, Group 11’s fifth fund raised $197 million, now price, as reported at present, solely $191.7 million. The valuation of the belongings stems from the person valuation of every of the businesses – to date the fund has not yielded main successes, apart from Sunbit, which is taken into account a promising unicorn, and Lili, a progress firm. Nevertheless, it’s nonetheless too early to find out – enterprise capital funds look at success after a interval of seven years, and based on estimates, many of the funds raised in 2021 haven’t but proven a return, as a result of a couple 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 similar 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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