Group 11 News
17 articles
growth-positive
הדירוג השנתי של טיים מציג רשימה הכוללת 350 קרנות הון סיכון אמריקאיות ● חלק ניכר מגופי ההשקעה הגדולים, שבהם מצויות גם קרנות זרות שמשקיעות בישראל, או קרנות שנוסדו גם על ידי ישראלים ● כמה שמות ישראלים מככבים בהמשך הרשימה ובהם: ליאור סוסן עם "אקליפס", קרן NFX שבין מקימה גיגי לוי וגרופ 11 של דובי פרנסס
The article discusses the annual ranking of American venture capital funds by Time magazine, which includes 350 firms. Notably, several Israeli-founded or Israeli-investing funds are highlighted. Among them, Eclipse, founded by Lior Susan, ranks 67th with investments in Israeli companies like Augury and Toka. Other notable mentions include Innovation Endeavors, NFX, and Group 11. The ranking evaluates financial and operational metrics, including fundraising capabilities, investment activities, and successful exits over the past five years. The article emphasizes the prominence of Israeli investors and their significant impact on the venture capital landscape.
growth-positive
אבנר נתניהו מצטרף למיזם של דובי פרנסס
Avner Netanyahu, son of the Israeli Prime Minister, has joined The Umbrella Corporation, a new venture by Group 11, as a Senior Associate. This initiative, led by Dovi Frances, focuses on advancing breakthrough technologies in defense and innovation through strategic partnerships and venture capital. The announcement comes as Group 11s fifth fund, which raised $197 million in 2021, reports a current asset value of $191.7 million, reflecting an 8.4% decrease. Despite market volatility, the fund continues to perform well, with investments in companies like Sunbit and Navan. The Umbrella Corporation operates alongside Group 11s sixth fund, continuing to invest in startups.
PartnersInvestment
growth-positive
Prime Minister Benjamin Netanyahu's son has been appointed senior associate of the new venture of Dovi Frances's Group 11 venture capital fund.
Avner Netanyahu, son of Prime Minister Benjamin Netanyahu, has joined the Umbrella Corporation as a senior associate. The Umbrella Corporation is a new venture led by Dovi Frances of Group 11, a venture capital fund focused on breakthrough technologies in defense and innovation. The fund, which raised $197 million in 2021, has experienced some market fluctuations but continues to perform well. The Umbrella Corporation operates alongside Group 11s sixth fund, investing in startups. The article highlights the strategic partnerships and the role of the Umbrella Corporation as a catalyst in the tech industry.
PartnersInvestment
growth-negative
According to the venture capital fund website PitchBook, Group 11's fifth fund raised $197 million, now worth, as reported today, only $191.7 million.
Group 11, a venture capital firm led by Dovi Frances, reported a decrease in the value of its fifth fund from $197 million to $191.7 million, reflecting an 8.4% drop in total assets under management. The fund, raised during the Covid tech bubble in November 2021, has not yet yielded significant returns, with Sunbit and Lili being notable exceptions. Despite increased liabilities and stable management fees, revenue from sales and IPOs remains low. The funds performance is under scrutiny as the tech industry faces challenges following interest rate hikes in May 2022. Institutional investors include Hashchara Insurance, Harel, and others.
Investment
growth-positive
דובי פרנסס חושף: "הרגשתי שאני צריך להחזיר לחברה הישראלית"
Dovi Frances, a prominent business figure and managing partner of Group 11, recently discussed his new book Introduction to Victory in an interview. The book aims to serve as a mentorship guide, sharing Frances personal journey and insights. Additionally, Frances is set to become an external advisor to the Israeli Prime Minister on artificial intelligence matters until a permanent CEO is appointed. He will assist in preparing for the upcoming AI legislation expected to be presented to the Knesset in the first quarter of 2025. This role highlights Frances influence and involvement in shaping AI policy in Israel.
Management Changes
ההישג היוקרתי של דובי פרנסס, והמסקנה: "לא להיות תבוסתניים"
growth-positive
דובי פרנסס חוגג הישג: "אי אפשר לתסרט ולתזמן את זה טוב יותר"
Dovi Frances, a well-known businessman and CEO of Group 11, announced that his venture capital fund has been ranked third globally for consistent performance by Preqin, a respected research body. Frances shared this achievement on LinkedIn, highlighting the funds top decile performance since its inception. Despite this international recognition, Frances criticized the Israeli media for their negative portrayal of Group 11, suggesting that they lack the objectivity of international research bodies like Preqin. He urged the Israeli economic press to reflect on their approach and avoid sensationalism. Frances emphasized the importance of words and their impact, warning against the potential harm of negative media coverage.
growth-positive
Secondary Fund Deals Surge as Investors Seek Exits
The recent sale of a 12% stake in Group 11s second fund for $20 million to Industry Ventures and StepStone Group highlights the growing importance of the secondary market as a source of liquidity for investors in venture funds. Many investors are stuck in illiquid portfolios whose value is hard to establish in the current sluggish venture market. This has led to an increase in secondary deals that allow limited partners to get cash back without having to wait for IPOs or company sales. This is Group 11s third sale of a secondary stake in one of its funds since last year, returning a total of $96 million to the venture firms LPs.
InvestmentPartners
growth-positive
Opening Remarks - Group 11 LP Days 2023
Group 11, an investment firm, is reflecting on its performance and providing long-term investment planning for its investors. The firm aims to give its LPs a north star for the next 10 years. The article discusses the challenges faced by the economy and the tech sector in 2022 and raises questions about the validity of Group 11s growth and investment decisions. The company plans to address macro-economic questions, determine a true north star for the economy and tech sector, and evaluate the performance of its existing portfolio. Group 11 emphasizes the importance of thinking about the future and aims to dominate the market in the coming years. The article mentions upcoming sessions with speakers discussing Fed policy, transitioning to local production, and the future of venture capital.
InvestmentManagement Changes
growth-positive
קרן StepStone האמריקאית רכשה אחזקות בשווי 50 מיליון דולר בקרן ההון סיכון Group 11 כלכליסט
Group 11, founded by Dovi Frances, sold a 27% stake to investors in its third fund. The Israeli training group is one of the entities that sold its holdings in the deal. Group 11s third fund sold a $50 million stake to StepStone, an American investment giant. The third fund has already made similar acquisitions in the past, including investments in Vertex and Comra. The transaction allowed investors in Group 11s third fund to realize their investments relatively early in the funds life. The investors received a return of 3.25 times their original investment, representing an annual internal rate of return of 41%. Group 11, founded in 2012, focuses on the fintech industry and Israeli entrepreneurs in the United States.
Investment
growth-negative
לא נוגע בקריפטו, לא ממהר לאקזיט: דובי פרנסס חושף סוד שמור לעיני כולם
TheMarker reports that the stock market is currently in a state of darkness, with many venture capital funds, including Dubi Franks, starting to trade on the Tel Aviv Stock Exchange. The Tel Aviv Stock Exchange is trying to increase its trading volumes, and one of the new instruments being offered to the public is the fifth fund of Groff 11s venture capital fund, which raised around $200 million and began trading today in what is called an institutional sequence. Dubi Franks explains in an interview why an early exit is a kind of failure and why he does not invest in cryptocurrencies.
Public Trading
growth-positive
Multifamily property management platforms are proptech's Amazon Alexa
Group 11, led by Dovi Frances, has invested $60 million in Israeli prop-tech company Venn. Venn offers a platform for creating neighborhood and communal residential experiences, aiming to combat loneliness and create a sense of belonging for residents. The investment will be used to expand Venns R&D center in Israel and hire 75 new employees. Group 11 believes that Venn has the potential to redefine its category and become a unicorn. Frances also discusses the changing of the guard in the job market, with Millennials and Gen Zs taking over, and the need for disruptive technological solutions in various industries. The article mentions the campaign launched by Group 11 to attract talent to its portfolio companies and the challenges of the tech talent shortage in Israel.
InvestmentExpand
growth-positive
Dovi Frances' Group 11 announces new $120 million fintech fund
Venture capital fund Group 11 has announced the first closing of its fifth fintech fund, totaling over $120 million. The fund is anchored by institutional investors Migdal Insurance and Harel Group. Group 11 Fund V will invest primarily in Silicon Valley-based financial technology software companies often related to Israel through their founding teams and R&D centers. The investment in the new fund will also be available on the Tel Aviv Stock Exchanges TASE UP platform. Group 11s portfolio has seen high-profile announcements, including Papaya Global, TripActions, Next Insurance, and Tipalti, completing significant funding rounds at high valuations.
Investment
growth-positive
Silicon Valley VC Group 11 going public on the Tel Aviv Stock Exchange
Group 11, led by Dovi Frances, became one of the first two listings on the Tel Aviv Stock Exchanges new platform TASE UP. The platform allows companies to remain private and not subject to reporting or prospectus publishing requirements. Group 11 aims to raise a $100 million fund through the listing. Frances believes that other venture capital funds will follow suit and join TASE UP. The listing provides institutional and accredited investors with a centralized and liquid instrument to invest in the Israeli technology landscape. It also allows accredited investors in Israel to access Silicon Valley investments. Frances is excited about the transparency and liquidity offered by TASE UP, as well as the opportunity to conduct business in Israel and showcase Group 11s performance.
Public TradingInvestment
growth-positive
"Not all unicorn valuations are real"
The article discusses the interplay between the macroeconomic situation and the high-tech industry, particularly in the context of the Covid-19 pandemic. It highlights the potential benefits for technology companies in implementing automation processes during an economic crisis. The article also mentions the funding rounds of several start-ups in the fintech industry, indicating optimism in the private market. Dovi Frances, a venture capitalist from Group 11, shares his insights on the market and the success of the start-ups in his portfolio. He emphasizes the importance of unique technologies and growth in huge markets. Frances also discusses the challenges and opportunities in the fintech sector, including the disruption of traditional banks and the need for licenses. The article concludes with Frances expectations for the future of the industry.
Investment
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Interview with VC Group 11 Founder, Dovi Frances
The article features a conversation between Hillel Fuld and Dovi Frances, a well-known Israeli investor. They discuss Dovis investment strategies and the collaboration between VCs and startups.
growth-positive
SGVC Raises $51 Million for Its Third Fund
Los Angeles-based venture capital firm SGVC has closed its third fund at $51 million. The fund will focus on early stage investments in Silicon Valley-based financial technology software companies. SGVC has achieved exceptional performance and returns with its previous funds, beating Cambridge Associates top quartile venture capital benchmark. The firm has also seen high-profile acquisitions of three of its portfolio companies in the past year. SGVCs investment approach has proven successful in the current era of institutional money flooding Silicon Valley. The fund is anchored by investors such as Hachschara Insurance Company, True Capital Management, Manhattan West Asset Management, and Leumi Investment Services Inc.
Investment
