Bear Frances Group 11 Foundation (Photo Group 11)
Venture capital fund Group 11 Of Bear Frances Company with Hamilton LaneA global investment company that specializes in private markets and manages approximately $ 851 billion, to execute a transaction to purchase holdings from the third fund of Group 11. In addition ,Hamilton Lane Also joined as a new investor in the sixth fund of Group 11 Which is currently raising about $ 150 million.
The deal allowed investors in the third fund of Group 11 (Year of establishment 2017) realize their investments at a relatively early stage in the life of the fund. Hamilton Lane Refused to disclose the return that this transaction yielded to the fund’s investors.
The announcement comes after earlier this month Group 11 Also a company with StepStoneA global investment company that specializes in private markets and manages approximately $ 548 billion, to execute a transaction in the amount of $ 50 million for the acquisition of 27% of the third fund of Group 11. In this transaction, the fund’s investors enjoyed a return of 3.25 times the original investment, which represents an annual internal rate of return of 41%.
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“We’m happy to partner with Hamilton Lane, One of the largest and most valued institutional investors in the world, and excited to add them to our family of institutional investors. This transaction, which also includes an investment of Hamilton Lane In our new sixth fund, it is another confirmation not only of the positioning of Group 11 As one of the leading fintech funds in the world, but also for the strength of our portfolio, even in a non-optimal work environment in the public market, it continues to show extraordinary resilience, “said Dubi Frances, co-founder ofGroup 11“This is also an expression of trust in the Israeli fintech locomotive, since most of our portfolio companies have a clear Israeli affiliation.”
“We are impressed with the performance and expertise of Group 11 In the field of fintech and we are excited to join them in this partnership, “said Matthew Fellini, Secondary Investment Manager at Hamilton Lane. “The Existing Portfolio of Group 11 Is evidence of access to transactions at an exceptional level which makes the fund attractive to our investors. We look forward to continuing to build our relationship with Bear Frances and staff Group 11“.
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Group 11 Founded in 2012 by Dobby Frances with the goal of empowering talented entrepreneurs who have set themselves the goal of revolutionizing the outdated financial services industry. The firm has invested in the early stages of some of Silicon Valley’s most prominent financial technology companies. The cumulative value of the investment portfolio of Group 11 Currently stands at about $ 1.6 billion.
Among the prominent portfolio companies of Group 11 Belong to: TipaltiWhich recently raised $ 270 million at a value of $ 8.3 billion; TripActionsWhich recently raised $ 275 million at a value of $ 7.25 billion; Next InsuranceWhich recently raised $ 250 million at a value of $ 4 billion; HomeLight, Which recently raised $ 100 million at a value of $ 1.6 billion; and-SunbitWhich recently raised $ 130 million at a value of $ 1.1 billion.
Less than a year ago completed Group 11 Raising $ 200 million for its fifth fund – double the original fundraising target of only $ 100 million. Among the Israeli institutional investors in the Fifth Fund are Harel Insurance and Finance, Mor Investment House, Menora Mivtachim, the Migdal Group and the Hachshara Insurance Company.
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