This event takes place on the heels of our latest and over-subscribed Group 11 Fund III of $51mm, three high-profile acquisitions our portfolio companies in 2018 (Loop Commerce by Synchrony Financial, SkyGiraffe by ServiceNow, and Redkix by Facebook), and numerous up-rounds in portfolio companies such as TripActions, HomeLight, Sunbit, and Tipalti.
As you recall, Group 11 focuses on early stage investments in category defining software companies disrupting the $16 trillion global financial services industry. Since our inception in 2012, we have committed ourselves to become one of our nation’s top performing financial technology (‘fintech’) funds. Our early investments in breakout fintech companies, such as TripActions, SoFi, Addepar, HomeLight, Next Insurance, Sunbit, and Tipalti make it evident that we are realizing our goal.
Our growth and timing have proven fortuitous as we are now in an era where institutional money is flooding Silicon Valley while inflating late-stage valuations in a radical and non-sustainable fashion. We are maintaining our investment focus and our fund size, knowing that our opportunities, our value-add, and our returns lie within early stage deals.
With over $150 million in assets under management, Group 11 has been a bastion amongst financial technology investors in recent years and has achieved exceptional performance and returns with both Group 11 Fund I and Fund II beating Cambridge Associates’ top quartile venture capital benchmark for their respective 2012 and 2014 vintages.
Our performance wouldn’t have been possible if it wasn’t for you – our limited partners, our co-investors, and our portfolio companies founders. All of you make up a unique ecosystem and have been so supportive of us over the past few years.
As we embark upon a new year we will continue to create value by identifying and supporting disruptive software companies poised to redefine the financial services industry. We also vow to continue to grow the Group 11 brand, our influence, and the investment team to assure we keep delivering best-in-class performance to our investors.
We appreciate you finding the time to partake at this event and look forward to spending it together.