Avner Netanyahu, the son of Prime Minister Benjamin Netanyahu, has joined the Umbrella Corporation as a senior associate. Umbrella Corporation is the new venture led by Dovi Frances, who heads the Group 11 venture capital fund, which deals with breakthrough technologies in defense and innovation, through strategic partnerships and venture capital, the fund says.
In an announcement on his LinkedIn page, Avner Netanyahu writes, "I had an incredible time with Strategy & Israel as an associate. Now it's time for a new chapter. Today I am excited to step into my new role as Senior Associate at the Umbrella Organization at Group 11." He says that the company will reshape the future of tech and adds, "Behind every breakthrough in tech lies a network. We are that network. The capital. The catalyst. We are The Umbrella Corporation.
Cybersecurity entrepreneur and expert Idan Keynan is also joining Umbrella Corporation. An announcement by Frances says, "Welcome Avner Netanyahu and Idan Keynan to the Group 11 family! We are delighted you are joining us for our important mission."
The fund raised $197 million in 2021
Frances' latest move comes in the wake of recent data released about Group 11's fifth fund. According to PitchBook as of May, the fund, which raised $197 million in 2021, reported a current asset value of $191.7 million, down 8.4% from the previous report. The fund was raised during the height of the tech investment boom during the Covid pandemic, and, along with many other funds, was affected by market fluctuations after interest rate hikes and declines in company valuations after May 2022. The fund's investments include Sunbit and Lily, along with other companies such as Masterschool, Healthee, SMBX and Venn.
According to the same report, income from IPOs and acquisitions has been limited, and expenses of the fund's management company have increased in the past year. Now, The Umbrella Corporation, the venture that Avner Netanyahu and Idan Keinan are joining, is operating in parallel with the activities of Group 11's sixth fund, which was raised a year after the fifth fund and continues to invest in startups. Sources close to the fund stress that despite market volatility, the fund is performing well. Among the fund's portfolio companies are: Dream, owned by entrepreneur Shalev Hulio, which became a unicorn earlier this year, Next, which was recently sold, and Navan, which is expected to hold an IPO soon.
Published by Globes, Israel business news - en.globes.co.il - on July 21, 2025.
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