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David Assia
Israeli entrepreneur (born 1951) From Wikipedia, the free encyclopedia
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David Assia (Hebrew: דוד אסיא; born 6 August, 1951) is an Israeli entrepreneur, investor, and business executive in high-tech and Venture Capital industries. He is the chairman of iAngels, a venture capital firm specializing in early-stage Israeli startups, the founder and former chairman of Magic Software Enterprises and the former chairman of eToro.[1][2][3][4]
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Early life
David Assia was born on August 6, 1951, in Geneva, Switzerland. His father, Yehuda Assia, was a banker and businessman of Iraqi descent who worked in Israel and Switzerland.[5] His mother, Jeannette, was of Thai and English descent and converted to Judaism prior to her marriage. In 1965, Assia immigrated to Israel with his family, and the family settled in Savyon.
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Career
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In 1969, Assia enlisted in the IDF and served for seven years. During his service, he studied at Tel Aviv University and received a Bachelor's degree in Economics and Social Sciences and a Master's degree in Business Administration.
In 1978, Assia moved to Switzerland, where he worked in banking and portfolio management. In 1980, he returned to Israel and joined as a partner in the company Mashov Automation and Data Processing Services, which had been founded two years prior by Yaki Dunietz. In 1983, the company changed its name to Mashov Computers and went public on TASE. It focused on developing accounting and ERP software products for micro computers and distributing products of Novell.[6]
In 1986, Assia co founded the subsidiary software company Magic Software Enterprises. The company developed the “Magic" application generator and database development tool. It went public on Nasdaq in August 1991.[7][8]
In 1998, Formula Group, headed by Dan Goldstein, acquired a controlling stake of Mashov Computers, the holding company of Magic Software Enterprises.[9] Assia continued as chairman of the company's Board of Directors until 2007.[10][11][12][13][14][15]
In 2007, Assia's two sons, Yoni Assia and Ronen Assia, co-founded eToro, a social trading network for trading securities, digital assets, commodities and ETF’s. Assia served as chairman of the company's board of directors for six years and remains a shareholder.[16][17][18][19]
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iAngels
In 2013, Assia co-founded iAngels alongside Mor Assia and Shelly Hod Moyal. iAngels is a venture capital firm that provides global investors with access to Israeli technology companies and startups, which are co-invested by institutional funds.[20][21][22][23][24][25]
iAngels has backed numerous companies in sectors such as Cybersecurity, Fintech, Artificial intelligence, and Deep tech. Assia is the current Chairman of the Board of the firm.[26][27][28][29]
Additional associations
Assia has been serving on the boards of directors of various companies and organizations:
- From 1997 to 2009, he was a director of Babylon.[30]
- From 2008 to 2011, he was the chairman of the board of directors of the software company Dynasec.[31]
- From 2007 to 2012, he was a director of the communications company RR Media.
- From 2013 to 2023, Assia served as a director of the First International Bank of Israel.[32]
- Since 2008, Assia is the director of Yeda, a research and development company, the technology transfer company of the Weizmann Institute of Science.
Assia is also a member of the Board of Governors of the Weizmann Institute of Science, a member of the Board of Trustees of Tel Aviv University,[33] a member of the Board of Trustees of the Babylonian Jewry Heritage Center,[34] a member of the board of the Foundation for the Advancement of Education in Israel and a member of the executive committee of IMPACT - the scholarship program of Friends of the Israel Defense Forces in the United States and Panama.[35][36]
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Private life
Assia's sister, Dahlia Peled, is CEO and owner of the People and Computers group. His younger sister, Daniella Lehavi, was a fashion designer. Daniella died in 2013.[37]
Assia is married to lawyer Naomi Assia. Together, they have three children: Yoni Assia, CEO of eToro, Ronen Assia, Co-Founder of eToro and Managing Partner of Team8 Fintech, and Yael Alroy, Managing Partner at Stardom Ventures.[26]
Assia currently lives in Savyon. In 2012, he was elected as a delegate of Savyon in the Israeli Labor Party.[38]
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References
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