Secretive investor behind Ramp and Cognition raises conflict concerns

Miami angel Zach Frankel's bets on rival AI startups are prompting hard questions about where an investor's loyalties lie Most venture investors want their names on press releases. Zach Frankel appears to prefer the opposite. The Miami-based solo angel wrote early checks into two of the hottest companies in tech, Ramp and Cognition . He has also funded hundreds of other startups, including AI companies that compete directly with each other. That last detail is now drawing scrutiny. Frankel works alone, without a big-name fund behind him. Even so, the companies in his portfolio carry a combined valuation of more than $185 billion . Those holdings include Ramp, Cognition, Applied Compute and Together AI. Ramp and Cognition account for a large share of that total.

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