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Angel Investor (Individual)

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Investments

3

Portfolio Exits

1

About Dovi Frances

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Latest Dovi Frances News

FINRA Regulated Crowdfunding Platform SMBX Raises $11.5 Million to Fuel Growth

Nov 3, 2021

SMBX , a FINRA regulated crowdfunding platform, has raised $11.5 million in seed funding, according to a note from the company. The seed funding round was led by Dovi Frances’s Group 11, with participation from existing investors Better Ventures, Impact America Fund (IAF), Unpopular Ventures, Berkeley SkyDeck, and former Vanguard executives Paul Heller and Jim Norris. In total, SMBX has raised $15 million. Terms of the investment were not disclosed. SMBX is an interesting investment crowdfunding platform as it focuses on financing businesses with “Small Business Bonds.” Similar to a bank replacement service, issuers can sell bonds directly to their customers and community to provide the capital needed for growth. Investors may generate a return of up to 9% interest (currently) on their investment while the firm is able to avoid dealing with a bank. Both accredited and non-accredited investors may invest in these securities. SMBX was founded by Ben Lozano, Chief Executive Officer, Bhavish Balhotra, Chief Technology Officer, and Jackie Chan, Chief Operating Officer. Lozano says there is a new generation of entrepreneurs emerging who want something different from finance. “The SMBX provides them the opportunity to become Bond issuers instead of simply loan takers. As issuers, they can connect more deeply with their community of customers and create a virtuous cycle of wealth creation–where profits generated through lending, borrowing, and wealth growth are re-circulated and shared with their community. This is what this new generation of entrepreneurs want. And this is what The Small Business Bond provides.” Dovi Frances, founder of Group 11, believes that traditional banking as we know it is coming to an end: “Today’s Fintech leaders are building an entirely new paradigm of financial products and services that are unrecognizable from legacy systems. These new products must democratize lending to reach those who need it most. At Group 11, we believe the future of fintech will be led by pioneering companies like SMBX and their Small Business Bond.” Washington, DC recently engaged with SMBC to help provide financing to local businesses. The program is called the D.C. Rebuild Bond program to help fuel $5 million in local investment for D.C. small businesses. The program focuses on communities neglected by the traditional banking system. Tomas Sluiter, owner of Culmination Brewing in Portland, OR, raised $400,000 at an 8% interest rate on SMBX to build a new canning line and tanks to grow his business. “By moving our debt service from banks to Small Business Bonds, we allowed our friends, family and customers to invest directly in our success, earn interest and grow their wealth.” Investment crowdfunding recently received a boost from the Securities and Exchange Commission as issuers may raise a greater amount than before. Currently, an issuer using Reg CF (Regulation Crowdfunding) may raise up to $5 million – an increase from the previous $1.07 million. This material improvement has had a positive impact on the securities crowdfunding sector. Sponsored Links by DQ Promote

Dovi Frances Investments

3 Investments

Dovi Frances has made 3 investments. Their latest investment was in Pickspace as part of their Seed VC on February 2, 2018.

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Dovi Frances Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

2/22/2018

Seed VC

Pickspace

$0.29M

Yes

1

4/18/2016

Series A

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$99M

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10

4/28/2015

Series B

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$99M

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10

Date

2/22/2018

4/18/2016

4/28/2015

Round

Seed VC

Series A

Series B

Company

Pickspace

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Amount

$0.29M

$99M

$99M

New?

Yes

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Co-Investors

Sources

1

10

10

Dovi Frances Portfolio Exits

1 Portfolio Exit

Dovi Frances has 1 portfolio exit. Their latest portfolio exit was Loop Commerce on May 10, 2018.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/10/2018

Acquired

2

Date

5/10/2018

Exit

Acquired

Companies

Valuation

Acquirer

Sources

2

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