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Draft:Dovi Frances

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Dovi Frances
Born (1978-11-20) November 20, 1978 (age 46)
Israel
CitizenshipIsraeli-American
EducationB.A. in Business Administration & Psychology Ben-Gurion University, MBA in Finance and Marketing UCLA Anderson School of Management
Occupation(s)Venture capitalist, Entrepreneur, Author, TV personality
SpouseRoni Eshel
Children3
Websitegroup11.vc

Dov "Dovi" Frances (Hebrew: דובי פרנסס; born November 20, 1978) is an Israeli-American venture capitalist, entrepreneur, and television personality.[1][2][3][4][5] He is the founder and managing partner of Group 11, a Los Angeles-based venture capital firm that as of June 2025, has deployed over $660 million and manages over $1.4 billion in Fair Market Value. The firm focuses on investing in AI and software companies, with particular emphasis on Israeli-related technology ventures.[6]

Frances is best known for his early-stage investments in several unicorn companies, including Tipalti, Navan (formerly TripActions), Next Insurance, Sunbit, Dream Security and HomeLight. Since 2018, he has been a prominent investor on the Israeli version of Shark Tank, known as "HaKrishim" (The Sharks).[7][8][9][10]

Early life and education

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Dovi Frances was born and raised in Holon, Israel, in a family of six. He is the great-grandson of Rabbi Asher Hananel, the Chief Rabbi of Bulgaria's Jewish community. During his mandatory military service, Frances served as a company commander (Captain) at Bahad 1, the Israeli Defense Forces' Officers Academy in the Negev Desert.[11]

After completing his military service, Frances was trained at the IMI College of Security and Anti-Terrorism and subsequently worked at the MALMAB, Ministry of Defense Security Authority. Frances earned a dual bachelor's degree in Business Administration and Psychology from Ben-Gurion University of the Negev in 2005. He subsequently moved to the United States to pursue a Master of Business Administration degree in Finance and Marketing from UCLA Anderson School of Management, graduating in 2008.[12][13]

Early career

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Upon graduation from UCLA Anderson, Frances began his career at Deutsche Bank in New York, working in a specialized team of private wealth managers serving high-net-worth clients. It was during this period that he met billionaire Sergey Grishin whom he brought into the bank as a key-client.[11]

In 2011, Grishin recruited Frances to manage all investments at SG, a financial advisory company for high-net-worth clients. In 2012, Frances established a venture capital fund called "SGVC" under the SG umbrella.[14]

Group 11

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In May 2015, Frances ventured out independently, purchasing the ownership of SGVC venture capital fund from Grishin and renaming the fund as Group 11.[15]

Since its inception, Group 11 has deployed over $660 million across multiple funds in what Frances describes as "some of Silicon Valley's most prominent and disruptive AI and Software companies." In June 2024, Group 11 was ranked first among U.S. venture capital funds for performance by research firm Preqin,[16] establishing Frances as one of the leading venture capitalists in the industry.

The firm was an early investor[17] in seven portfolio companies that have achieved unicorn status, including Navan, Tipalti,[18] Sunbit,[19] HomeLight, Dream Security,[20][21] and Next Insurance (acquired by Munich Re in Q2 2025).[22][23][24][25][26][27]

Notable investments

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Under Frances' leadership, Group 11 has led early-stage investments in numerous technology companies that have achieved significant success[22][28]:

Notable investments
Company Role Estimated valuation (latest round / exit)
Tipalti Led Series A, Board member, 2nd largest investor $8.3B[29]
Navan Seed Investor, Board advisor, 4th largest investor $9.2B[30]
Next Insurance Series A Investor, 4th largest investor $2.6B (EXITED)[31]
HomeLight Seed Investor, Board observer, 3rd largest investor $1.6B[22]
Sunbit Led Series Seed, Board member, 2nd largest investor $1.1B[22]
Dream Security Led Series Seed,Board member, largest investor $1.1B[32]
Masterschool Led Series Seed,Board member, largest investor Undisclosed
AeroPay Led Series A,Board member, 3rd largest investor Undisclosed
BridgeWise Led Series Seed,Board member, largest investor Undisclosed
Healthee Led Series Seed,Board member, largest investor Undisclosed
Venn Led Series A,Board member, largest investor Undisclosed

Recognitions and awards

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Frances has received numerous accolades for his work in venture capital and entrepreneurship:

  • Guinness World Record (2014) - For facilitating the largest individual life insurance policy in history ($201 million).[33]
  • Preqin Top Performer (2024) - Group 11 ranked #1 performing U.S. venture capital fund.[16]
  • HEC Paris-DowJones Global Ranking (2024) - Group 11 ranked #3 globally among venture capital funds.[34]
  • IAC & Israeli Consulate Award (2023) - For outstanding achievements in technology and strengthening U.S.-Israel relations.[35][36][37]
  • Ben-Gurion Award (2024) – For contributions to Israel's economy, technological innovation, and support of the Negev region.[38][39][40]

Television career

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Since 2018, Frances has been a prominent investor and personality on "HaKrishim" (The Sharks), the Israeli version of the international Shark Tank franchise produced by Keshet Media Group. The show premiered on February 20, 2018, on Israel's Channel 12. Frances served as a "shark" investor for the show's first four seasons, after which he chose not to return for subsequent seasons.[7][8][9][10]

As one of the "shark" investors on the show, Frances evaluates pitches from entrepreneurs seeking investment and mentorship. His television presence has made him Israel's most recognizable venture capitalist and has significantly contributed in promoting entrepreneurship in the Israeli startup ecosystem.[41][9][42][43][44][45][46][47] In 2024, Frances has announced he will step down from the show to focus on matters pertaining to securing Israel's AI competitive advantage.

Philanthropy

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  • Ben Gurion University Board of Governors - Youngest member ever elected to the Board of Governors of Ben-Gurion University of the Negev[48][49].
  • The Institute - Frances co-founded The Institute - Israel's AI Advancement Center at Ben-Gurion University of the Negev alongside Nvidia, Microsoft, 8200 and members of The Israel Prime Minister Office.The Institute is a collaborative initiative aimed at strengthening Israel's competitive technological edge through AI research and training programs[50][51].
  • Israel Collaboration Network - Frances serves on the Steering Committee of ICON[52][53][54].

Personal life

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Frances is married to Roni Eshel, a former Israeli surfing champion. The couple has three children and resides in Brentwood, Los Angeles.[9]

In November 2024, Frances was appointed as a temporary external advisor to Israeli Prime Minister Benjamin Netanyahu on artificial intelligence matters, tasked with establishing a national AI headquarters under the Prime Minister's Office and preparing legislation for an AI framework to be submitted to the Knesset in early 2025.[55]

Book

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In 2024, Frances published "Introduction to Victory" (מבוא לניצחון),[56][9] the first book in a planned trilogy, through Kinneret Zmora-Bitan Dvir publishing house. The book became an immediate best-seller, as defined by the publisher[57].Frances announced that he would distribute 14,000 copies of the book to Israeli Defense Forces soldiers injured in the Israel-Hamas war.[58]

Frances is known for his vocal support of Israeli entrepreneurship and has been involved in initiatives to strengthen ties between Israeli and American technology ecosystems. He has also been active in political discourse, particularly regarding policies affecting Israel's AI sector.[9]

Frances has been featured in major business publications including Business Insider,[59] WSJ,[60] TechCrunch,[61] Jpost,[62] and Globes,[63] for his investment insights and market predictions about the future of financial technology.

References

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  1. ^ "Israel's Annual Family Office & Wealth Management Conference - DC Finance". DC Finance. Retrieved October 10, 2024.
  2. ^ Wrobel, Sharon (August 29, 2023). "Dovi Frances seeks to sell Papaya stake at 90% discount amid judicial overhaul clash". The Times of Israel. Retrieved October 15, 2024.
  3. ^ La Roche, Julia (March 14, 2014). "An Anonymous Billionaire Purchased A Record-Breaking $201 Million Life Insurance Policy". Business Insider. Retrieved October 15, 2024.
  4. ^ "Bridgewise Secures $21 Million in New Funding to Support the Global Expansion". Financial IT. Retrieved October 10, 2024.
  5. ^ Robehmed, Natalie. "Mystery Billionaire Buys Record-Breaking $201 Million Life Insurance Policy". Forbes. Retrieved October 10, 2024.
  6. ^ "Israel's Group 11 Signs $50 Million Deal With US Firm For Third Fund Holdings". NoCamels. April 7, 2022.
  7. ^ a b "Dovi Frances in a special interview: "Leaving The Sharks, Israel needs 100% of me"". ice. October 2, 2024.
  8. ^ a b "Worth Billions: Meet the New "Sharks"". mako. June 11, 2025.
  9. ^ a b c d e f שקד, רענן (January 2, 2025). ""You know who's the best person to lead this country? Me."". Ynet.
  10. ^ a b "The cast of the new season of The Sharks has been finalized". mako. June 28, 2017.
  11. ^ a b "The art of success". Jewish Journal. April 25, 2011.
  12. ^ "CSQ | C-Suite Quarterly - The Voice of the C-Suite". CSQ | C-Suite Quarterly - The Voice of the C-Suite. Retrieved October 10, 2024.
  13. ^ "Dovi Frances – Cee Wealth". Retrieved October 10, 2024.
  14. ^ "SGVC Raises a New $50 Million Venture Fund". CTECH. September 25, 2017.
  15. ^ "About Dovi Frances". Fintech Finance.
  16. ^ a b "Preqin announces winners for 2024 Preqin Awards" (Press release). GlobeNewswire. June 18, 2024.
  17. ^ "Group 11". Startup Nation Finder.
  18. ^ "Tipalti". Group 11.
  19. ^ "Sunbit Announces $130M Series D Round and a $1 Billion Valuation". Sunbit. June 2021.
  20. ^ "Dream". Group 11.
  21. ^ "Israeli co Dream Security raises $100m at $1.1b valuation". Globes. February 17, 2025.
  22. ^ a b c d "Israel's Group 11 Signs $50 Million Deal With US Firm For Third Fund Holdings". NoCamels. April 7, 2022.
  23. ^ "Dovi Frances: Group 11 fifth fund hasn't lost a shekel". Globes. August 4, 2024. Retrieved October 10, 2024.
  24. ^ Patiky, Mark. "Business Aviation BrandVoice: How Can A Business Jet Help Manage Wealth? Ask Dovi Frances". Forbes. Retrieved October 10, 2024.
  25. ^ "Dovi Frances' Group 11 announces new $120 million fintech fund | Ctech". m.calcalistech.com. Retrieved October 10, 2024.
  26. ^ "Dovi Frances selling Papaya Global shares at 90% discount". Globes. August 29, 2023. Retrieved October 10, 2024.
  27. ^ Shulman, Sophie (August 29, 2023). "Investor Dovi Frances to sell Papaya Global shares at loss, co-founder Guez says she'll buy". Ynetnews. Retrieved October 10, 2024.
  28. ^ "Dovi Frances on LinkedIn". Dovi Frances on LinkedIn.
  29. ^ "Israel's Group 11 Signs $50 Million Deal With US Firm For Third Fund Holdings". NoCamels. April 7, 2022.
  30. ^ Biswas, Pritam. "Travel tech firm Navan confidentially files for US IPO". Reuters.
  31. ^ "Munich Re buys Israeli insurtech co Next at $2.6b valuation". Globes. March 20, 2025.
  32. ^ Desk, Insights (February 18, 2025). "AI Cybersecurity Startup Dream Raises USD 100 M at USD 1.1 B Valuation". ITsecurity Demand. {{cite web}}: |last1= has generic name (help)
  33. ^ "Mystery billionaire takes out historic $201 million life insurance policy". Guinness World Records.
  34. ^ "Latest HEC Paris-DowJones Venture Capital Performance Ranking reveals the smallest firms delivering strongest returns". HEC Paris. June 12, 2023.
  35. ^ "Gal Gadot: "Israel is my heart and my home - we share a common purpose"". N12. May 18, 2023.
  36. ^ "Gal Gadot received an award in Los Angeles: "Israel is my home and where my heart belongs"". walla. May 18, 2023.
  37. ^ "Dovi Frances Receives Outstanding Achievement Award along with Gal Gadot, Miriam Adelson". The YouTube channel of Group 11. May 25, 2023.
  38. ^ "Recipients of the Ben-Gurion Award for 2023-24 and 2024-25". Ben-Gurion University of the Negev.
  39. ^ "Ben-Gurion Award Recipients". Ben-Gurion University of the Negev. April 20, 2023.
  40. ^ "Dovi Frances in a major achievement: "Creating a better future for the State of Israel"". ice. November 26, 2024.
  41. ^ דור, אופיר (September 11, 2022). "How Dovi Frances Went from Oligarch's Right-Hand Man to a "Shark"". Globes.
  42. ^ "The Fintech Industry's Shark: Traditional Banking Will Disappear Within 10–20 Years". TheMarker.
  43. ^ "Made in Israel: "The Israeli high-tech sector relies on foreign investors like me"". mako. September 12, 2024.
  44. ^ עזר, אלמוג (April 7, 2024). "The Disappointing Shark: Dovi Frances Lost $39 Million for His Investors in a Year". Ynet.
  45. ^ "From a Garage in Holon to the Top of Venture Capital: The Story of Dovi Frances". N12. January 19, 2023.
  46. ^ "Dovi Frances Opposes Eynat Guez's Move: "It Will Deepen the Nation's Polarization"". People & Computers. January 26, 2023.
  47. ^ ""The questions I ask a founder mainly focus on technology, barriers to entry, market size, and the strength of the team."". Startup for Startup.
  48. ^ "Dovi Frances Joins Ben-Gurion University Board of Governors - Speech". Group 11 official YouTube channel. May 25, 2023.
  49. ^ "Board of Governors". BGU PRESIDENT'S REPORT 2025.
  50. ^ "Ben-Gurion University of the Negev launches 'The Institute' to promote Israeli leadership in AI in partnership with leading entrepreneurs". Ben-Gurion University of the Negev.
  51. ^ "The Institute: Fighting for Israel's competitive edge in AI". Jerusalem Post. May 8, 2024.
  52. ^ "Steering Committee". ICON.
  53. ^ "Dovi Frances' Group 11 announces new $120 million fintech fund". CTECH. March 17, 2021.
  54. ^ "Dovi Frances, Group 11 — Breaking Barriers in Fintech and Venture Capital". Josh Benadiva,Medium. May 2, 2023.
  55. ^ "Dovi Frances to help set up Israel AI National Directorate". Globes. October 11, 2024.
  56. ^ "An Introduction to Victory (Hebrew Edition)". amazon.
  57. ^ "Dovi Frances, author of the bestseller Introduction to Victory, paid a visit to IDF Officer School Bahad 1, where he served 25 years ago". The Facebook page of Kinneret Zmora-Bitan Dvir.
  58. ^ ""A year of work-filled with hundreds of hours of thinking, conversations, transcriptions, writing, and rewriting-has now come to fruition with the release of my debut book". Dovi Frances' LinkedIn page.
  59. ^ "A fintech VC is disclosing a decade of return data showing a billion-dollar gain. Now he is challenging other VCs to open their books". Business Insider.
  60. ^ Chernova, Yuliya (September 9, 2024). "Can Venture Capital Keep Itself Afloat?". Wall Street Journal. WSJ.
  61. ^ "Cannabis industry and gaming payments startup Aeropay is now offering an alternative to Mastercard and Visa". TechCrunch. May 16, 2024.
  62. ^ "Saudi, Gulf investors quietly back Israeli tech, encouraged by Trump's return - opinion". Jpost. November 6, 2024.
  63. ^ ""We have bigger problems than the judicial overhaul"". Globes. June 18, 2023.
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