Miami-based solo angel investor Zach Frankel faces scrutiny over his investments in competing AI startups. His portfolio includes companies such as Ramp, Cognition, Applied Compute, and Together AI, with a combined valuation exceeding $185 billion.
Ramp reached a valuation of $60 billion in October 2026 after raising $1.85 billion. Previously, in June 2026, the company was valued at $44 billion. Cognition reached a valuation of $48 billion in September 2026.
Conflicts have emerged between portfolio companies, specifically Factory and Cognition. In late 2026, the CEO of Factory publicly questioned the ethics of a staff member moving to Cognition, highlighting the dual position of their shared investor.
Frankel provides operational support alongside capital, including recruiting talent from the International Olympiad in Informatics. This active involvement in hiring processes raises concerns among founders regarding potential bias when placing candidates across competing firms.
