Investor Dovi Frances has announced the issuance of a new $100 million fund on the Tel Aviv Stock Exchange (TASE). This is the first time that a venture capital fund investing in high-tech has offered investors in the Tel Aviv Stock Exchange to be partners in the success of Israeli high-tech.
Frances is a founding partner in Silicon Valley’s Group 11 fund that invests in revolutionary technology companies in the field of financial services.
This year the high-tech companies in which Frances invested reached a value of billions of dollars each. Among them, TripActions, which developed a business travel planning platform worth more than $ 4 billion, the fintech company Tipalti, which develops automated solutions for transferring global payments, has grown to a value of more than $2 billion, as has the digital insurance company for small businesses Next Insurance.
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According to Dovi Frances: “Gone are the days when venture capitalists talked a lot, but reflected very little to the public. From today, Group 11’s performance is available to all and we will continue to report our median performance through the stock market. “The availability of venture capital funds also to qualified investors and institutional investors through a central platform, which allows free purchase and sale of their limited partnership rights in the fund. Full transparency of performance will lead to a natural selection of the best performing funds.”
Group 11’s fifth fund is the first technology fund traded on the TASE UP arena of the stock exchange. Enabling technology and real estate companies to trade on the Tel Aviv Stock Exchange, through the stock exchange’s trading and clearing infrastructure.
Since Frances founded Group 11 in late 2011, it has invested more than $200 million in Silicon Valley’s leading financial technology companies. The companies are based in the United States, but about 70% of them have a connection to Israel, with Israeli founders and research and development activities in Israel.
