Two Israeli venture capital firms were named Tuesday to TIME magazine’s first-ever ranking of the top 350 firms shaping the U.S. venture capital industry in 2025.
Group 11, led by Israeli-American investor Dovi Frances, and NFX, headed by Gigi Levy-Weiss, were chosen from more than 10,000 firms reviewed for the list, which was compiled by TIME in partnership with international data firm Statista.
The ranking evaluated firms across three categories: fundraising strength (35%), investment activity (35%) and exit and fund performance (30%).
Group 11, founded in 2012, has invested more than $700 million and manages assets with a fair market value above $1.4 billion. The firm has backed seven unicorns and holds a predominantly Israeli portfolio that includes Navan (formerly TripActions), which plans an IPO later this year, Next Insurance, sold to Munich Re for $2.6 billion in 2024, as well as Dream Security, HomeLight, Sunbit, Masterschool, Tipalti, Venn City, AeroPay, Healthee and BridgeWise.
The recognition follows a string of recent accolades for Group 11. In 2024, analytics firm Preqin ranked it first among U.S. venture capital managers, while in 2023 it placed third globally in the HEC Paris–Dow Jones performance index.
“This is a great honor for the fund and for the Israeli high-tech industry,” Frances said in a statement. “For over a decade, Group 11 has stood out by being agile, pursuing bold opportunities, and investing heavily and fearlessly in Israeli entrepreneurs and entrepreneurship. This ranking marks the third consecutive year that Group 11 has received prestigious recognition from top-tier global evaluators.”
Frances added that the ranking reflected “both the impressive results the fund delivers to its investors and our unique approach to portfolio companies - deep involvement, strategic connections, and operational knowledge that help them lead their categories.”