NFX

What NFX does

NFX is a San Francisco-based venture capital firm founded in 2015 by operators including James Currier, Pete Flint (former Trulia co-founder/CEO), Gigi Levy-Weiss (former Playtika founding CEO), and Omri Amirav-Drory, with a brand identity literally derived from "network effects." The firm manages over $1.5 billion in assets under management across four funds, with Fund IV closing at $325 million in October 2025. NFX invests at pre-seed and seed stages across AI, biotech, space, cybersecurity, marketplaces, fintech, gaming, crypto, and consumer, with active geographic focus on the Bay Area, Israel, Latin America, and Europe. The portfolio spans 236 companies including 26 unicorns and 5+ IPOs (DoorDash, Lyft, Global-e, Hippo, plus one GP Angel), and the firm maintains active follow-on participation into later stages.

The firm differentiates through three proprietary software products distributed free to the founder community: Signal (the founder-VC fundraising network at signal.nfx.com, positioned as the #1 way for founders to reach NFX), Brieflink (a private trackable fundraising deck link tool), and the NFX Masterclass (a 3-hour, 11-episode video course on network effects). These products reach 322K+ startup teams via newsletter and collectively function as inbound deal-sourcing infrastructure. Around them, NFX operates a public content library of 443 essays, podcasts, and videos, the invite-only Guild network of 500+ portfolio founders offering post-investment services (1:1 GP access, fundraising support, legal counsel, executive coaching, hiring playbooks, vendor discounts), and the 2026 NFX Fellows program for student founders.

The revenue model is conventional venture fund economics: management fees (industry-standard ~2% annually on committed capital) and carried interest (~20% of fund profits above a preferred return) collected from limited partners across successive fund vehicles. Free software products and content publishing are not revenue-generating but function as deal-sourcing and brand-building investments that feed the underlying fund economics. The firm operates from San Francisco, Palo Alto, and Israel with a small team of 16+ named professionals.

Name

NFX

Legal name

NFX

Website

http://www.nfx.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

NFX is a San Francisco-based venture capital firm managing over $1.5 billion in assets, investing at pre-seed and seed stages in network-effect-driven startups across AI, biotech, marketplaces, fintech, gaming, and space, with active operations in the US, Israel, LatAm, and Europe.

Ownership category

akta.pro rank

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fund management & carried interest: As a venture capital firm, NFX's primary revenue model is conventional VC economics: collecting management fees (typically 2% annually on committed capital) and carried interest (typically 20% of fund profits above a preferred return) from limited partners across its funds. The firm closed NFX Fund IV at $325M, bringing total AUM to over $1.5B. Underlying revenue is generated from successful exits of portfolio companies (e.g., Doordash IPO, Global-e IPO, Hippo IPO, Lyft IPO).
2. Free software products (brand investment): NFX builds and distributes free software (Signal, Brieflink, Masterclass) to the broader founder community. These products are not revenue-generating in themselves but function as deal-sourcing and brand-building investments that feed the core fund economics.

Pricing tiers

Go-to-market motion3 records

Core offering

NFX is a venture capital firm that makes pre-seed and seed-stage investments in network-effects-driven startups across AI, biotech, fintech, marketplaces, gaming, crypto, space, and cybersecurity. The firm also builds and distributes proprietary free software products (Signal, Brieflink, NFX Masterclass) for founders and operates The Guild, an invite-only community of 500+ portfolio founders. Revenue is generated through conventional VC fund management fees and carried interest across its fund vehicles, the latest being NFX Fund IV at $325M.

Product overview

NFX is a venture capital firm rather than a packaged SaaS platform, but it has built and ships a small portfolio of in-house software products for founders that function together as a single founder-support stack. The core products are Signal (the founder–VC fundraising network at signal.nfx.com), Brieflink (the private, trackable fundraising deck link service at brieflink.com), and the NFX Masterclass (the free video learning platform at nfx.com/masterclass). Around these, NFX operates NFX Library (the public content hub of 443 essays, podcasts, and investment memos on nfx.com/library), the NFX Fellows program for student founders, and The Guild, the invite-only post-investment member network of 500+ portfolio founders that consumes Brieflink and Signal on the front end and the Masterclass and Library as ongoing learning resources on the back end.

Differentiator

Problem solved

Functional benefit

Brands

• Signal: The #1 fundraising network for Founders, built by NFX as a founder-VC connection platform (signal.nfx.com)
• Brieflink
• NFX Masterclass

Products and services

• Signal A founder-to-VC fundraising network that enables startup founders to reach NFX and connect with the broader founder-VC ecosystem. Described by NFX as the #1 fundraising network for founders and functions as the firm's primary inbound deal-sourcing tool.
• Brieflink A private, trackable fundraising deck link tool that walks founders through 9 standardized questions to streamline VC outreach and enable NFX partners to receive inbound deck submissions from prospective portfolio companies.
• NFX Masterclass A free video streaming platform built for early-stage founders covering the 16 network effects and how they reinforce each other. Includes insider case studies on Meta, Uber, Bitcoin, Trulia, Steam, and Mammoth. Requires free login to track progress and access all episodes, transcripts, and supplementary material.

Quantifiable outcome

• $1.5B+ in total assets under management
• +4 more outcomes

Named customers31 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered flagship portfolio / case study, flagship talent program and strategic corporate investor.

• Mammoth Biosciencesflagship portfolio / case studyStrategic or Co-development PartnerNFX portfolio company featured in Founder Spotlight — Trevor Martin is developing a CRISPR platform to expand the ability to cure and diagnose disease. Used as an insider case study in the NFX Masterclass.
• Incredible Healthflagship portfolio / case studyStrategic or Co-development PartnerNFX portfolio company (Pre-Seed stage) featured in Founder Spotlight — Iman Abuzeid is helping healthcare professionals do their best work via a labor marketplace for permanent healthcare workers.
• NuvoCargoflagship portfolio / case studyStrategic or Co-development PartnerNFX portfolio company featured in Founder Spotlight — Deepak Chhugani is simplifying cross-border shipping for businesses via a digital freight platform.
• Triple Whaleflagship portfolio / case studyStrategic or Co-development PartnerNFX portfolio company featured in Founder Spotlight — AJ Orbach is building dashboards to simplify real-time metrics tracking for Shopify merchants.
• Seso Laborflagship portfolio / case studyStrategic or Co-development PartnerNFX portfolio company featured in Founder Spotlight — Michael Guirguis is helping agriculture workers find safe and meaningful employment.
• Papaya Gamingflagship portfolio / case studyStrategic or Co-development PartnerNFX portfolio company featured in Founder Spotlight — Oriel Bachar is transforming single-player games into rewarding multiplayer tournaments.
• 2026 NFX Fellows Program (Universities)flagship talent programStrategic or Co-development PartnerProgram that supports student founders from prestigious universities through mentorship, resources, and investment access. Announced in October 2025.
• Hyundai Motor Companystrategic corporate investorStrategic or Co-development PartnerStrategic corporate investor that participated in Revv's $20M Series A alongside NFX. Hyundai brings automotive OEM strategic value.
• Google AI Futures Fundstrategic corporate investorStrategic or Co-development PartnerInvested in Latitude's Voyage AI-native RPG platform alongside NFX, Griffin Gaming Partners, Roblox executives, Midjourney, Album VC. Strategic AI investment vehicle from Google.
• EvenUpflagship portfolio / case studyStrategic or Co-development PartnerNFX portfolio company featured in Founder Spotlight — Rami Karabibar is revolutionizing legal drafting with AI. EvenUp achieved a $2B+ valuation in the personal injury legal AI vertical.

Scale indicators11 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Andreessen Horowitz (a16z): Multi-stage venture firm with large seed and AI-focused funds; directly comparable to NFX in seed-stage AI investing (both named top-10 AI seed investors 2026), but a16z operates at materially larger AUM and broader stage range.
• Sequoia Capital: Premier multi-stage venture firm that competes with NFX at seed and pre-seed in AI, marketplaces, and crypto; broader portfolio and far larger AUM, but shares the same early-stage category-authority positioning.

Direct peers

• Y Combinator: Pre-seed/seed accelerator that is a direct competitor for early-stage founders; co-invests with NFX (F2, Starcloud, Revv) and shares NFX's founder-first, community-driven sourcing motion.
• General Catalyst: Multi-stage venture firm with active seed practice; comparable to NFX in seed-stage AI and enterprise investing, with overlapping co-investor relationships (Insight, Lightspeed).
• Lightspeed Venture Partners: Multi-stage VC with strong seed-to-growth practice; repeated co-investor with NFX (ScaleOps, etc.), comparable in stage focus and AI/enterprise thesis.
• First Round Capital: Seed-focused venture firm with a strong community and content-driven model (similar to NFX's Masterclass/Guild); directly comparable in stage, check size, and founder-engagement approach.
• Accel: Long-standing venture firm active from seed through growth; named alongside NFX in top-10 AI seed rankings and operates a comparable early-stage sourcing model.
• Benchmark: Early-stage-focused venture firm with partner-led model; co-invested with NFX in Starcloud, comparable in disciplined seed-stage practice and operator orientation.
• Founders Fund: Early-to-growth stage venture firm focused on deep-tech, bio, and frontier categories — directly overlapping with NFX Fund IV's AI/biotech/space thesis.
• Battery Ventures: Multi-stage VC with strong deep-tech and enterprise software practice; co-invested with NFX in Blitzy and shares comparable stage and sector focus, with deeper roots in network-effects research.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/nfx
• YouTubeyoutube.com/c/NFXVC
• LinkedInlinkedin.com/company/nfxvc

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments533 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NFX