Dovi Frances Group 11 fifth fund shrinks

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 at present reported whole property underneath administration of $191.7 million in all portfolio firms, down 8.4% from whole property of $208.7 million reported final 12 months. Group 11 publishes solely annual studies.

Regardless of this, whole 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 just about 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 in the course of the Covid tech bubble in November 2021. On the time, with a purpose to fulfill capital market and institutional buyers, Frances determined to make the fund extra clear and submit quarterly studies. The corporate now submits solely annual studies, a follow Frances launched with the sixth fund it raised a 12 months later and which continues to put money into startups.

Based on 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 property stems from the person valuation of every of the businesses – to date the fund has not yielded main successes, except Sunbit, which is taken into account a promising unicorn, and Lili, a development 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 couple of months later, in Could 2022, the disaster within the tech business broke out after rate of interest hikes.. Among the many investments of the fifth fund, firms resembling: 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.

Revealed by Globes, Israel enterprise information – en.globes.co.il – on Could 13, 2025.

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