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 introduced a report of shrinking funds underneath administration and efficiency. Group 11 at the moment 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 12 months. Group 11 publishes solely annual stories.

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 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 throughout 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 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 put money into startups.

In response to the enterprise capital fund web site PitchBook, Group 11’s fifth fund raised $197 million, now price, as reported at the moment, solely $191.7 million. The valuation of the property stems from the person valuation of every of the businesses – up to now the fund has not yielded main successes, excluding Sunbit, which is taken into account a promising unicorn, and Lili, a development firm. Nevertheless, it’s nonetheless too early to find out – enterprise capital funds study success after a interval of seven years, and in response to estimates, a lot of the funds raised in 2021 haven’t but proven a return, as a result of just a few months later, in Might 2022, the disaster within the tech trade 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.

Printed by Globes, Israel enterprise information – en.globes.co.il – on Might 13, 2025.

© Copyright of Globes Writer Itonut (1983) Ltd., 2025.