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 below administration and efficiency. Group 11 at the moment reported complete belongings below administration of $191.7 million in all portfolio corporations, down 8.4% from complete belongings of $208.7 million reported final 12 months. Group 11 publishes solely annual stories.

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 had 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, as a way to fulfill capital market and institutional traders, Frances determined to make the fund extra clear and submit quarterly stories. The corporate now submits solely annual stories, a apply Frances launched with the sixth fund it raised a 12 months later and which continues to spend money on startups.

In line with 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 belongings stems from the person valuation of every of the businesses – up to now the fund has not yielded main successes, except for 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 study 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 number of months later, in Might 2022, the disaster within the tech business broke out after rate of interest hikes.. Among the many investments of the fifth fund, corporations similar to: Masterschool, Healthee, SMBX, Sorbet, Venn. Lili and Sunbit. Amongst its institutional traders: 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.

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