Migdal Insurance, Harel Group, Menora Mivtachim Insurance and Hachshara Insurance helped the financial technology-focused investor reach a $120m first close of its latest fund.
US-based venture capital firm Group 11 has raised $120m for the first close of its fifth fund, from limited partners including insurers Migdal Insurance, Harel Group, Menora Mivtachim Insurance and Hachshara Insurance Company, NoCamels has reported.
Migdal and Harel Group anchored the fund, which also received commitments from More Investment House, True Capital Management and several unspecified family offices based in the United States and Israel.
The fund, which had initially targeted $100m of capital commitments, reached its first close…
