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SGVC Raises a New $50 Million Venture Fund

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SGVC Raises a New $50 Million Venture Fund

Previous investors in SGVC included former Microsoft senior VP Mich Mathews and the rapper Pitbull

Meir Orbach  :  2017-09-25T15:07:50..
Israeli-born entrepreneur and financier Dov Frances is raising a new $50 million venture Capital fund, one person familiar with the matter who spoke on condition of anonymity told Calcalist. SGVC's third fund will target early-stage fintech investments, this person said.

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Formerly of Deutsche Bank's private banking arm, Mr. Frances founded the early stage venture capital firm SGVC in 2012 with Russian-American billionaire Sergey Grishin. Mr. Grishin is the founding partner of the RosEvro Group, a Russia-based holding company. Messrs. Frances and Grishin previously founded advisory firm SG LLC.

Dov Frances, managing partner at SGVC Dov Frances, managing partner at SGVC Dov Frances, managing partner at SGVC

In 2016 Mr. Frances raised a little over $50 million for the firm’s second venture fund. Former global chief marketing officer of Microsoft Mich Matthews and head of digital marketing at T-Mobile Nicholas Drake joined the fund's board. Rapper Pitbull was among the fund’s investors.

The firm’s second fund invested participated in Series A rounds investing in companies including Israel-linked automated payments startup Tipalti Solutions Ltd., and enterprise app development and deployment company SkyGiraffe Ltd.
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