NFX Launches $450M Pre-seed and Seed Fund
Summary
NFX, a San Francisco, CA- and Herzlia, Israel-based seed stage venture firm, launched its $450M third fund dedicated to pre-seed and seed-stage startups. The firm, which manages $875M in total assets, pairs network effects knowledge with other resources to help take founders from idea to IPO. Fund III is expected to support 70 companies whose founders specialize in fintech, marketplaces, gaming, and proptech sectors, and to increase investment in tech-bio and crypto. Beller is the co-creator of Diem (fka Libra), the cryptocurrency effort launched by Facebook, previously worked in corporate development at Medium, and was a former partner at Andreessen Horowitz. Since Fund I, the firm has grown from three GPs to five, from 16 employees to 45, and opened offices in San Francisco, Israel and Palo Alto.