Silicon Valley-based venture capital firm NFX Guild has raised $275 million in commitments for its second fund. NFX's first fund, closed with commitments of $175 million in October 2017, has yet to see an exit but some of its more mature startups have raised hundreds of millions of dollars.
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The firm's partners don't draw salaries but rather depend on its success, NFX founding and managing partner Gigi Levy-Weiss said in a recent interview with Calcalist.
NFX invests mostly in seed companies, and occasionally in series A-stage companies. "During our first fund we monitored our strategy and identified that early stage investments create the most value for investors, so we are raising a more substantial fund," Levy-Weiss said.
A third of the first fund's portfolio companies, which number around 35, were Israeli companies, a ratio that will probably be maintained for the second fund.
"We work tightly with our portfolio companies, and will continue to do so," Levy-Weiss said. "For Israeli companies, we are a bridge to Silicon Valley. NFX's two American partners are available to all Israeli companies, to open doors for them."
The firm's two other founding and managing partners are James Currier, a four-time startup founder and long-term investor, and Pete Flint, co-founder of real estate listing company Trulia Inc. and travel website lastminute.com.
NFX invests equally in B2B and B2C companies across many industries—including fintech, bioinformatics, real estate-related tech, games, and more—but focus on Israeli and Silicon Valley startups, Levy-Weiss said.