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Group 11 strikes $20M deal with StepStone Group and Industry Ventures for second fund holdings

Retrieved on:

Thursday, December 7, 2023

Investment, Silicon, LOS, NeXT, HomeLight, StepStone Group, Partnership, Group 11 element, Like a Boss (film), Heel, Growth, Mohammad Mohammadi-Malayeri, IRR, Financial services, Bank, Tipalti

LOS ANGELES, Dec. 7, 2023 /PRNewswire/ -- Leading venture capital firm Group 11 has partnered with StepStone Group, a global private markets investment firm, and with Industry Ventures, a leading investment firm focused on private technology investments, through a $20M secondary transaction to acquire 12% of Group 11's second fund. The parties closed the deal directly, without the involvement of any placement agent or investment bank.

Key Points:

The deal enabled investors in Group 11's second fund (2015 vintage) to realize their positions partially or entirely.
Through this deal, participating Group 11 investors received a ~3X net cash on cash return, representing a 20% net IRR on their investment.
This is the second deal we have executed with StepStone since 2022 and this is the first deal with Industry Ventures.
This deal with StepStone and Industry Ventures comes on the heels of significant growth in Group 11's assets under management.

World's First Brokerage-as-a-Service Platform Breaks The Mold, Pinnacle Realty Advisors Enters California

Retrieved on:

Tuesday, July 18, 2023

Pinnacle Realty Advisors , the world's first Brokerage-as-a-Service (BaaS) platform, announces its expansion into the California market.

Key Points:

Pinnacle Realty Advisors , the world's first Brokerage-as-a-Service (BaaS) platform, announces its expansion into the California market.
In addition to accepting California agents, Pinnacle Realty Advisors announces the appointment of Michael Locke as the new Director of Growth for California.
With a wealth of industry knowledge and expertise, Locke brings a fresh perspective to Pinnacle Realty Advisors' expansion in the Golden State.
The rapidly increasing number of agents joining the company highlights the effectiveness of Pinnacle Realty Advisors' unique brokerage model and the value it delivers to agents.

Clever Real Estate Secures $2 Million From Strategic Investors

Retrieved on:

Wednesday, May 10, 2023

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ST. LOUIS, May 10, 2023 /PRNewswire/ -- Clever Real Estate, a fast-growing real estate technology company, has raised an additional $2 million in funding from venture capital firm Cultivation Capital and EssentVentures LLC, a subsidiary of Essent Group Ltd. (NYSE: ESNT).

Key Points:

Clever Real Estate is on track to achieve profitability in the second half of the year, demonstrating its commitment to financial discipline and long-term success.
ST. LOUIS, May 10, 2023 /PRNewswire/ -- Clever Real Estate , a fast-growing real estate technology company, has raised an additional $2 million in funding from venture capital firm Cultivation Capital and EssentVentures LLC, a subsidiary of Essent Group Ltd. (NYSE: ESNT).
The financing round also includes real estate tech strategist Mike DelPrete and builds on the company's previous $11 million in equity capital, signaling continued belief from industry insiders during a time of market uncertainty.
"In Clever's next chapter, we're using that platform as a springboard to launch new solutions for both consumers and real estate professionals.

Show Low Arizona Realtor Josh Meacham Releases New Website To Help Homeowners In Show Low, Arizona, Sell Their Properties With Confidence

Retrieved on:

Wednesday, April 5, 2023

Marketing, Professional, HomeLight, Josh, Negotiation, Lightning, Organization, Low, Knowledge, News, Real estate, Sales, Property management, Zillow

He states, “As a real estate agent, my selling process is designed to get your home sold quickly and efficiently.

Key Points:

He states, “As a real estate agent, my selling process is designed to get your home sold quickly and efficiently.
I use a variety of platforms to list your home, including 6 different online platforms that reach thousands of potential buyers.
Josh Meacham can help you sell your current property or secure your dream home with lightning speed.
Josh Meacham, West USA Realty – Show Low, AZ

West USA Realty: Award-Winning Realtor Josh Meacham Announces New Office Location In Pinetop, Arizona

Retrieved on:

Friday, March 10, 2023

National Association of Realtors, News, Estate agent, American Institute, Pinetop-Lakeside, Arizona, Negotiation, Real estate, Meacham, National Association, Organization, Marketing, Housing, Sale, HomeLight, NAR, Knowledge, Property management, Online shopping, Zillow

Josh Meacham is excited to announce to prospective buyers and sellers his award-winning services in a new office location in Pinetop, Arizona.

Key Points:

Josh Meacham is excited to announce to prospective buyers and sellers his award-winning services in a new office location in Pinetop, Arizona.
Josh Meacham states, “I use a variety of platforms to list your home, including six different online platforms that reach thousands of potential buyers.
To find out more about Josh Meacham, West USA Realty, and to see a complete list of his real estate services, please visit his website at pinetopazrealestateagents.com .
Josh Meacham, West USA Realty – Pinetop-Lakeside, AZ

Challenging Real Estate Market Continues Into 1st Half of 2023: Retirees and First-Time Homebuyers Among the Highest Impacted

Retrieved on:

Tuesday, December 6, 2022

In response, two segments of buyers will change their behavior meaningfully: retirees and first-time homebuyers.

Key Points:

In response, two segments of buyers will change their behavior meaningfully: retirees and first-time homebuyers.
According to the report, agents are predicting the following entering the new year:
The emerging challenges ahead and beyond the 2023 market will broadly impact the lives of first-time homebuyers.
Retirees may also expand their homes for kids to move back in, helping them to save money to purchase in the future.
Each year, HomeLight facilitates billions of dollars of residential real estate business on its platform for thousands of agents.

Boomerang Sellers Herald a 2023 Rebound, while the Rise of Gen Z and a Shift in Buyer Preferences Promise a Brighter Tomorrow

Retrieved on:

Thursday, October 27, 2022

The percentage is even higher among Gen Z buyers (79%) and millennial buyers (69%) who say they took a pause in 2022.

Key Points:

The percentage is even higher among Gen Z buyers (79%) and millennial buyers (69%) who say they took a pause in 2022.
The biggest mistake I saw last year was sellers choosing an agent who only tells them what they want to hear.
In 2022, 16% of buyers surveyed were between the ages of 18 and 25, an unusually high number for Gen Z.
For boomerang sellers, focusing on their homes outdoor space will position them for success in the new year.

Sonder Holdings Inc. Announces Seasoned Tech Industry Finance Executive Sean Aggarwal Appointed to Board of Directors

Retrieved on:

Monday, October 24, 2022

Sonder Holdings Inc. (Sonder; NASDAQ: SOND), a leading next-generation hospitality company that is redefining the guest experience through technology and design, announced today that Sean Aggarwal has joined Sonders Board of Directors, effective immediately.

Key Points:

Sonder Holdings Inc. (Sonder; NASDAQ: SOND), a leading next-generation hospitality company that is redefining the guest experience through technology and design, announced today that Sean Aggarwal has joined Sonders Board of Directors, effective immediately.
View the full release here: https://www.businesswire.com/news/home/20221024005894/en/
headshot of Sean Aggarwal (Photo: Business Wire)
Were really excited to have Sean join our Board.
Aggarwal is currently the Chair of the Board of Directors at Lyft, Inc., as well as a board member at Arlo Technologies, Inc., Thumbtack, Inc. and HomeLight, Inc.
Prior to Trulia, Mr. Aggarwal held executive and senior finance positions at PayPal, eBay, Amazon, PepsiCo, and Merrill Lynch.

Fintech VC Group 11 Hosts Webinar Series on the Future of the Office of the CFO

Retrieved on:

Wednesday, September 14, 2022

LOS ANGELES, Sept. 14, 2022 /PRNewswire/ -- Leading enterprise-fintech venture capital firm Group 11 has announced a webinar series called Digitizing the Office of the CFO featuring portfolio company executives who are revolutionizing financial services.

Key Points:

As the role of the modern CFO expands, so too does the need for investments in technology to enable effective oversight.
Automation and digitization are vital processes that drive success for modern executives, often leaving the late-adopters behind.
"At Group 11, we have been investing in the future of fintech long before its contemporary buzzword status.
We have seen firsthand how CFOs and financial leaders have struggled to adapt during the pandemic and manage the resulting chaos," says Dovi Frances, Founding Partner of Group 11.

Real Estate Squeeze: Rising Interest Rates and Stubborn Sellers Price Out Middle Class Homebuyers

Retrieved on:

Tuesday, September 13, 2022

Rising interest rates have begun a shift from a relentless, seller-dominated market.

Key Points:

Rising interest rates have begun a shift from a relentless, seller-dominated market.
In our recent survey, however, only 51% of agents are now describing their current local market as a sellers market.
Homeownership has become more expensive due to higher interest rates caused by inflation, reducing the number of buyers, and easing demand.
Each year, HomeLight facilitates billions of dollars of residential real estate business on its platform for thousands of agents.