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Friends & Family Capital is a venture capital firm based in Menlo Park, California, founded in 2019 by Colin Anderson and John Fogelsong. Colin Anderson, the former CFO of Palantir, and John Fogelsong, a second-generation venture capitalist, established the firm to support entrepreneurs aiming to transform significant markets through technology. The firm has raised over $350 million across multiple funds, including their latest fund of $118 million announced in June 2024.
Currently, Friends & Family Capital manages a portfolio of over 100 companies, contributing to the creation of more than 130,000 jobs. The firm emphasizes operational expertise and hands-on support, particularly in financial operations, to help startups navigate critical growth phases. Their investment strategy is rooted in a belief that strong teams, effective operations, and sufficient capital are essential for success.
Friends & Family Capital invests primarily in early-stage B2B companies across sectors such as SaaS, logistics, and artificial intelligence. The firm targets businesses with at least $20 million in annual recurring revenue, focusing on those that aim to revolutionize their markets through technology. Their investment stages include seed, Series A, Series B, and growth equity, allowing them to engage with startups at various points in their development.
The firm’s investment strategy is characterized by a commitment to enhancing operational models and providing financial operations expertise. Friends & Family Capital seeks to partner with founders and CFOs, offering support in building financial projection models, crafting data-driven fundraising pitches, and scaling finance teams. This approach positions them as a trusted finance partner for startups looking to grow sustainably.
Friends & Family Capital has invested in over 100 companies, with notable portfolio companies including:
This diverse portfolio reflects the firm’s focus on B2B sectors and its commitment to supporting companies that create substantial market impact.
Colin Anderson (Co-Founder / GP) — Former CFO of Palantir, Colin has extensive experience in financial operations and built Palantir's finance team from 1 to 60 people. He has a background in macroeconomic research from Clarium Capital, a hedge fund founded by Peter Thiel.
John Fogelsong (Co-Founder / GP) — John comes from a deep Silicon Valley venture capital lineage as the son of IVP co-founder Norm Fogelsong. He has been involved in venture capital since 2007 and has a strong network within the industry.
To pitch to Friends & Family Capital, startups should visit their website at friendsandfamilycapital.com. The firm prefers detailed decks that outline the business model, market opportunity, team qualifications, and financial projections. Founders should expect a response within a few weeks, and while warm introductions are beneficial, they are not strictly necessary.
On June 12, 2024, Friends & Family Capital announced the closing of their third fund at $118 million, which will focus on investments in B2B companies with significant recurring revenue. The first investment from this fund was made in Gecko Robotics, an AI-powered infrastructure inspection company.
In recent months, the firm has continued to expand its portfolio, which now includes over 100 companies, contributing to the creation of more than 130,000 jobs across various sectors.
What are the investment criteria for Friends & Family Capital?
Friends & Family Capital primarily invests in early-stage B2B companies with at least $20 million in annual recurring revenue. They focus on sectors such as SaaS, logistics, and AI, looking for businesses that aim to transform their markets through technology.
How can startups apply or pitch to Friends & Family Capital?
Startups interested in pitching to Friends & Family Capital can visit their website at friendsandfamilycapital.com. They encourage founders to provide detailed information about their business model, market potential, and team.
What makes Friends & Family Capital different from other venture capital firms?
The firm differentiates itself through its focus on financial operations expertise and hands-on support. Founders benefit from the extensive experience of the partners in building finance teams and crafting data-driven fundraising strategies.
What is the geographic scope of Friends & Family Capital's investments?
Friends & Family Capital primarily invests in North America, focusing on startups that are positioned to make a significant impact in their respective markets.
What is the typical check size for investments?
For their latest fund, Friends & Family Capital typically invests between $6 million and $12 million per company, depending on the stage and potential of the startup.
What kind of post-investment involvement can founders expect?
Friends & Family Capital provides operational support, including assistance with financial projections, fundraising pitches, and scaling finance teams. They aim to be a trusted partner throughout the growth journey of their portfolio companies.
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