New York’s ff Venture Capital Just Raised a $54 Million Fund, and It’s Targeting Another

Screen Shot 2016-05-22 at 10.04.25 AMNew York-based venture firm ff Venture Capital, has raised $53.8 million for its fourth seed-stage venture fund, according to an SEC filing that shows fundraising began in the fall of 2014.

The firm had closed its third seed-stage fund fund in January 2014 with $52 million. Since then, ff Venture Capital has hired two new partners, including Adam Plotkin, who was formerly one of its entrepreneurs-in-residence, and Michael Faber, who’d spent nearly two decades as a general partner with NextPoint VC.

Earlier (and remaining) partners with the firm include its founder, John Frankel; Alex Katz, who does double duty as the firm’s CFO; and David Teten, who previously cofounded a short-lived data mining and analytics company called Navon Partners.

Some of ff Venture’s biggest exits in recent years include the learning software maker Cornerstone OnDemand, which went public in 2011; ThinkNear, a hyper-local mobile ad company that sold to Telenav in 2012 for undisclosed terms; and Omek Interactive, which sold to Intel for $40 million in 2013.

The firm has also seen two of its portfolio companies sell this year. In February, the car service app Whisk sold to the cloud and mobile commerce company Deem, and last week, Livefyre, a portfolio company focused on brand engagement, was acquired by Adobe. Terms of both deals weren’t disclosed publicly.

ff Venture Capital (the “ff” stands for founder friendly) employs 30 people, including recruiting, PR, and investor relations staff to assist its portfolio companies. Some of those that remain privately held are Indiegogo, Plated, Distil Networks, Ionic Security, and Skycatch.

Indeed, according to a source familiar with the firm’s plans, ff Venture Capital is still in the fundraising market, with plans to raise a separate “opportunities” fund to invest in the best-performing companies in its existing portfolio. The idea is to invest in 15 of the roughly 85 startups the firm has funded to date across its four early-stage funds.

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