Dovi Frances

Dovi Frances (Hebrew; דובי פרנסס) is an Israeli-American businessman and venture capitalist. Frances is the founder of Group 11, a Los Angeles-based venture capital firm with investments in Financial Technology companies such as Addepar, SoFi, HomeLight, TripActions, Tipalti, Sunbit and Next Insurance. Frances is also one of the main "shark" investors on the Keshet Media Group version of the reality television series, Shark Tank.

Dovi Frances
Dovi Frances, 2016
Born (1978-11-20) 20 November 1978
Holon, Israel
Alma materBen Gurion University, UCLA Anderson School of Management
OccupationBusinessman, venture capitalist, entrepreneur, angel investor, and managing partner of Group 11.
Spouse(s)Roni Eshel

Early life

Dovi Frances was born in Holon, Israel to an eastern European family of Holocaust survivors. Frances served as a Company Commander (Captain) in Bahad I, Israeli Defense Forces' Officers Academy stationed in the Negev Desert. After his military service in 2000, he was the Vice President of Sales and Marketing for Mitsubishi Motors and Hyundai Motor Company's largest subsidiaries in Israel. In 2005, Frances earned his dual BA from the Ben Gurion University in Business Administration and Psychology. He graduated in June 2008 with a Masters of Business Administration in Finance and Marketing from UCLA Anderson School of Management.

Business career

Following his studies at UCLA, Frances joined Deutsche Bank Private Bank as one of twenty wealth managers that were tasked with managing the financial affairs of ultra high-net-worth individual clients in North America.

After a short tenure at Deutsche Bank, Frances left with a few of his clients to start SG, LLC, a global advisory firm that provided select families with unique solutions to their complex financial needs.[1]

Since the beginning of 2010 and until Frances’ departure in May 2015, the firm facilitated over $1.2 billion in completed transactions through its Lending, Insurance, and Operations Divisions. Under Dovi's directive, the firm also invested over $250 million through its Alternative Investments and Asset Management Divisions.

Guinness World record

While at SG, LLC, Frances was recognized for breaking a Guinness World Record selling the world's largest life insurance policy.[2]

Venture investing – Group 11

In January 2012, Frances formed Group 11 (formerly known as SGVC), a FinTech dedicated Venture Capital fund aiming to capitalize upon the vast changes reshaping the traditional financial services industry.

In May 2015, Frances acquired SGVC out of SG, LLC, renamed as Group 11, and stepped down to focus entirely on venture capital investments.

Since its formation, Group 11 has invested over $100 million into some of Silicon Valley's most prominent and disruptive financial technology companies.[3]

Frances currently serves as Director on the Boards of Tipalti,[4] SunBit, HomeLight,[5] and Covercy.[6] He is also an Advisor to Addepar and is a member of the Advisory Council of Bank Leumi U.S.

Shark Tank

Frances has been a "shark" investor on the Keshet Media Group reality program Shark Tank Season 1 and Season 2, which were recorded in 2017. The show's first episode aired 20 February 2018 on primetime Israeli national television.[7]

Personal life

Frances is married to Roni Eshel, former Israeli Surf Champion.[8] The couple resides in Venice Beach, California. The couple had their first child, a son, in 2019.

References
  1. "Meet The 35-Year-Old Financier Who Holds The Guinness World Record For Selling The Most Expensive Life Insurance Policy". Business Insider.
  2. "Mystery billionaire takes out historic $201 million life insurance policy". The Guinness World Records.
  3. "SGVC reels in $50m for Fund II". AltAssets Private Equity News.
  4. "Tipalti nets $14 mln from SGVC-led round". The PE Hub Network.
  5. "HomeLight Raises $40M in Series B Funding To Help You Find A Listing Agent". Forbes.
  6. "Undermining the Banking Monopoly Covercy Raises $1.5 million". Calcalist.
  7. "Meet Dovi Frances". Mako.
  8. "Surf's up with Israeli surfing champ's crowdsourced reports". The Times of Israel.
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