Friends & Family Capital is a Menlo Park-based venture capital firm that equips founders with strategic insight, hands-on support, and financial operating expertise as they scale. Co-founded by former Palantir CFO Colin Anderson and John Fogelsong, son of IVP co-founder Norm Fogelsong, the firm positions itself as a trusted partner for founders and CFOs building out their finance functions.
Friends & Family Capital invests from seed through growth stage, targeting companies building sustainable moats, durable revenue growth, and defensible free cash flow at scale, with a focus on B2B enterprise software and hardware businesses with recurring-revenue components.
The firm targets companies generating $20M to $100M in revenue for its core fund positions, while also deploying smaller stakes across up to 40 early-stage companies with the option to increase positions later.
With its fourth fund, the firm has expanded its focus toward "sovereignty" sectors, including defense, manufacturing, power, infrastructure, communications, and AI infrastructure.
The firm is based in Menlo Park, California, and invests primarily in Silicon Valley-connected companies.
Friends & Family Capital raised $300M in a first close for its fourth fund, shifting its focus toward "sovereignty" sectors including defense, manufacturing, power, infrastructure, communications, and AI infrastructure.
The firm's third fund closed at $118M in 2024, bringing total assets under management to more than $350M including SPVs.
The firm's second fund closed at $91.5M in 2020, above an initial $60M target.
Leadership
Investment Strategy
Friends & Family Capital positions itself as a trusted partner for founders and CFOs building out their finance functions, offering expertise in financial projections, data-driven fundraising pitches, and CFO recruiting.
For core fund investments, the firm writes checks representing 5% to 10% of the fund, and separately deploys smaller, earlier micro-stakes across a broader set of companies with the option to increase its position over time.
The firm maintains a strict policy of not taking board seats, instead acting as an informal advisor to portfolio companies, prioritizing financial and strategic operating help for founders over formal governance roles.
Notable Investments
info@friendsfamilycapital.com
Colin Anderson, Co-Founder
John Fogelsong, Co-Founder
john@fafc.com
John Leli, Finance Manager
john.leli@friendsandfamilycapital.com
Edward Mulder, Principal
edward@fafc.com
Bibin Mathew, Senior Finance Associate
bibin@fafc.com
Maggie McKenna, Associate
maggie@fafc.com
Chad M, Senior Associate
chad@fafc.com
United States
