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Draft:David Assia

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David Assia
Personal details
Born (1951-08-06) 6 August 1951 (age 73)
Geneva, Switzerland
Citizenship
  • Switzerland
  • Israel
Political partyIsraeli Labor Party
SpouseNaomi Assia
Children3
EducationTel Aviv University
Occupation
  • Businessman
Websitehttps://www.iangels.com/

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]

Early Life

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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.[4] 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.

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.[5][6]

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.[7]

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.[8][9]

In 1998, Formula Group, headed by Danny Goldstein, acquired a controlling stake of Mashov Computers, the holding company of Magic Software Enterprises. Assia continued as chairman of the company's Board of Directors until 2007.[10][11][12][13][14][15][16][17]

In 2007, Assia's two sons, Yoni Assia and Ronen Assia, 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.[18][19][20]

iAngels

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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. The firm allows investors to co-invest in high-growth startups alongside institutional funds.[21][22][23][24][25][26]

iAngels has backed numerous companies in sectors such as cybersecurity, fintech, artificial intelligence, and deep tech, scaling businesses from early-stage startups to major exits. Assia is the current Chairman of the Board of iAngels.[27][28] [29] [30]

Additional Associations

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Assia has been serving on the boards of directors of various companies and organizations:

  • From 1997 to 2009, he was a director of Babylon, which developed and distributed the Babylon translation software.
  • From 2008 to 2011, he was the chairman of the board of directors of the software company Dynasec.
  • 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.
  • 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, a member of the Board of Trustees of the Babylonian Jewish Heritage Center, 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 the Friends of the IDF in the United States and Panama.[31]

Private Life

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Assia's sister, Dahlia, is CEO and owner of the People and Computers group. His younger sister Daniella Lehavi was a fashion designer. Daniella died in 2013.[32]

Assia is married to lawyer Naomi Assia. Together, they have three children, including 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.[33]

Assia currently lives in Savyon. In 2012, he was elected as a delegate of Savyon in the Israeli Labor Party.[34]

References

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  1. ^ "David Haim Assia". Bloomberg News. 23 March 2025.
  2. ^ "Investing Profile - David Assia". Signal. 23 March 2025.
  3. ^ Ferris, Zvika (22 June 2000). "Magic Chair David Assia Sold Mashov Shares for NIS 1 Mln Two Weeks Before Magic's Profit Warning". Globes.
  4. ^ Aderet, Ofer (3 September 2016). "Yehuda Assia Banker to the Mossad, Dies at 99". Haaretz.
  5. ^ Glen Ferris, Glen (4 October 2022). "David Assia: Life on the cutting edge". CampdenFB.
  6. ^ BeProfit (23 March 2025). "David Assia Biography". THE ORG.
  7. ^ Ariav and Goodman (1 June 1994). "Israel: of swords and software plowshares". Communications of the ACM. 37 (6): 17–21. doi:10.1145/175208.175220.
  8. ^ Ferris, Zvika (22 June 2000). "Magic Chair David Assia Sold Mashov Shares for NIS 1 Mln Two Weeks Before Magic's Profit Warning". Globes.
  9. ^ Shahaf, Tal (23 May 1989). "(Hebrew) Magic 2 does magic". Maariv.
  10. ^ Eisenberg, Amir (8 October 1997). "What's Made Mashov Computers Shares Jump 35% In Three Days?". Globes.
  11. ^ Kagan, Lior (13 August 2000). "Formula's Mashov Computers revenues rise 24% in second quarter". The Marker.
  12. ^ Shields, Bree (4 May 2018). "Global VP Of Tech & Innovation Yuval Lavi On Magic Software". integral.
  13. ^ Shulman, Sophie (5 December 2021). "An educational exit: Mashov acquired for over $15 million". Calcalist.
  14. ^ "Magic reappoints David Assia as chairman". Globes. 8 January 2002.
  15. ^ Eisenberg, Amir (13 April 1998). "Formula, Shamrock to Acquire Jointly 44.2% of Mashov Computers for $17.4 Mln". Globes.
  16. ^ Rubins, Zvika (22 June 2000). "Magic Chair David Assia Sold Mashov Shares for NIS 1 Mln Two Weeks Before Magic's Profit Warning". Globes.
  17. ^ Pincas, Gitit (25 September 2002). "RadView nominating Magic's David Assia as external director". The Marker.
  18. ^ Ferris, Zvika (5 May 2025). "eToro revives $240M IPO at $4B valuation after market delay". ynet.
  19. ^ Ferris, Zvika (8 August 2024). "David Assia - Shares List". Business News (Australia).
  20. ^ Shulman, Sophie (5 May 2025). "Who's cashing out in eToro's IPO? Founders, ministers, and moguls eye big gains". Calcalist.
  21. ^ Goldenberg, Roy (13 February 2014). "iAngels allows small start-up investments". Globes.
  22. ^ Cuen, Leigh (13 September 2021). "These iAngels Are Bringing New Heavyweights Into Bitcoin Investing". Coindesk.
  23. ^ Taylor, Dan (27 July 2021). "Women-led VC and investment platform iAngels Ventures raises €47 million". tech.eu.
  24. ^ "iAngels Ventures Raises $55.5M (€47M) for First Institutional Fund Anchored by the European Investment Fund Bringing Total AUM to over $300M (€255M)". PR Newswire. 27 July 2021.
  25. ^ "iAngels co-founder Mor Assia says Israel historically shielded from venture capital funding freeze". Australian Financial Review. 23 November 2018.
  26. ^ Goldenberg, Roy (24 March 2015). "Roman Abramovich leads investment in Israel's iAngels". Globes.
  27. ^ Shulman, Sophie (28 March 2021). ""One investor told us: you look like nice girls, you should go do something else"". Calcalist.
  28. ^ Klein Leichman, Abigail (30 June 2015). "$4.5 million drips into Drippler". ISRAEL21c.
  29. ^ Habib-Valdhorn, Shiri (12 November 2020). "Cybersecurity co BrandShield listing on London's AIM". Globes.
  30. ^ Tress, Luke (22 October 2016). "KamaTech, iAngels launch first VC fund for Haredi entrepreneurs". The Times Of Israel.
  31. ^ "David Assia". Weizmann Institute of Science. 23 March 2025.
  32. ^ Shulman, Sophie (28 March 2021). ""One investor told us: you look like nice girls, you should go do something else"". Calcalist.
  33. ^ Shulman, Sophie (28 March 2021). ""One investor told us: you look like nice girls, you should go do something else"". Calcalist.
  34. ^ Handverker, Haim (11 September 2012). "(Hebrew) The winner amongst the Millionaires of The Israeli Labor Party - David Assia". The Marker.


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