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Office Locations:
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Information Technology
Life Sciences & Healthcare
Software & Internet
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NFDG is a prominent, high-conviction venture capital firm based in San Francisco primarily focused on investing in Artificial Intelligence (AI) and enterprise software startups. Founded in 2023 by former GitHub CEO Nat Friedman and former Y Combinator partner Daniel Gross, the firm raised over $1 billion for its debut fund, quickly becoming a major player in the AI investment landscape. NFDG focuses heavily on early-stage and Series A investments in AI, developer tools, and enterprise applications. NFDG gained attention by providing portfolio startups access to the 'Andromeda Cluster,' a private, massive computing cluster (2,500+ H100 GPUs) for training models. In mid-2025, Meta Platforms moved to acquire a significant stake (up to 49%) in NFDG's funds in a deal that allowed limited partners to cash out at a 4x markup.
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Investment Firm Key
VC = Venture Capital
PE = Private Equity
A = Angel
I = Incubator
MB = Merchant Bank
VD = Venture Debt
FI = Family Investment Office
FOF = Fund of Funds
ED = Economic Development Office
TT = Technology Transfer Office
CVC = Corporate Venture Capital
SEC = Secondary Purchaser
HF = Hedge Fund/Mutual Fund
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| COMPANY STAGE | REVENUE |
| Venture Capital | |
Seed Stage
(includes "pre-seed," or
concept stage) | No Revenue |
| Early Stage | Minimal
Revenue |
Growth Stage
(also called Mid-stage) | $2M-$7M |
Expansion Stage
(also called Late-stage) | $7M and greater |
| Private Equity | |
| Lower Middle Market | $10M-$249M |
| Middle Market | $250M-$499M |
| Upper Middle Market | $500M-$1B |
| Large Cap | >$1B |
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| Name | |
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Title | |
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| Daniel Gross | |
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Founder | |
| Lenny Bogdonoff | |
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Principal | |
| Michelle Chan | |
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Controller | |
| Nat Friedman | |
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Founder | |
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Date
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Name
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State
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Amount
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Stage
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03/12/2026
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Juicebox
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CA
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$80,000,000
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Series B
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02/24/2026
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Basis
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NY
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$100,000,000
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Series B
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02/09/2026
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ElevenLabs
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NY
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$500,000,000
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Series D
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11/19/2025
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Method Security
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MN
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$26,000,000
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Seed and Series A
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08/18/2025
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Medallion
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CA
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$43,000,000
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05/28/2025
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Creatify
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CA
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$15,500,000
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Series A
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