About NFDG
NFDG is a venture capital firm As of Mar 2026, NFDG is an active investor, having invested in 16 companies, with 9 new investments in the last 12 months. It primarily invests in Series A round in United States based startups. Its investments are spread across a wide range of sectors from High Tech to Enterprise Applications and HealthTech. Most recently it participated in the $***** Series C round of Granola Overall, NFDG portfolio has seen 4 unicorns including key companies like ElevenLabs, Function Health and Basis. A lot of funds co-invest with NFDG, with names like Nat Friedman sharing a substantial percentage of its portfolio. NFDG has team of 3 people including 1 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series B, Series A & 2 more
Portfolio Unicorns
NFDG's List of Top Investments
NFDG has a portfolio of 16 companies, including 4 unicorns. Their most notable investments are in Coframe and SSI.Their portfolio spans across United States and United Kingdom. They have invested in High Tech, Enterprise Applications, HealthTech and 7 other sectors, across stages such as Series B, Series A and 2 more. Here is the list of top investments by NFDG:
1. ElevenLabs
AI-based text to speech software. It is an AI audio platform creating realistic speech through Text-to-Speech technology. It offers research in Text to Speech, AI Voice Generator, and more. Its deep learning model lets the user voice anything from a sentence. Its cloning model learns speech profiles based on audio.
Key facts about ElevenLabs
- Founded Year: 2022
- Location: London (United Kingdom)
- Valuation: $*****
- Stage: Series D
- Total Funding till date: $811M
- Employee Count: 776 as on Mar 31, 2026
- Investors: T.Capital, Bond Capital and 47 Others
- Latest Funding Round: Series D, Mar 12, 2026, $*****
- Highlight: Editors' Pick
Provider of comprehensive lab testing and health monitoring membership services. The company offers access to lab tests, results analysis, and personalized health protocols. Testing is conducted at partner laboratories. Clinicians review results and provide insights. The membership includes options for advanced imaging and additional testing services.
Key facts about Function Health
- Founded Year: 2022
- Location: Austin (United States)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $351M
- Employee Count: 441 as on Mar 31, 2026
- Investors: Founders Circle Capital, K2 Global and 50 Others
- Latest Funding Round: Series B, Nov 19, 2025, $*****
- Highlight: Editors' Pick
3. Basis
AI agents for automating accounting workflows and engagements. The AI agents onboard onto accounting engagements at the direction of an accountant. The agents adapt their intelligence to the engagement they are working on. The AI agents integrate with existing systems, ledgers, and file systems.
Key facts about Basis
- Founded Year: 2023
- Location: New York City (United States)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $138M
- Employee Count: 2 - 10 as on Jul 17, 2025
- Investors: Google Ventures, BoxGroup and 31 Others
- Latest Funding Round: Series B, Feb 24, 2026, $*****
- Highlight: Editors' Pick
4. SSI
Platform offering security solutions for AI models. The platform develops AI systems safe for human use. It aligns AI capabilities with human values for AI systems to not pose risks to society. Its safety measures are integrated from the outset.
Key facts about SSI
- Founded Year: 2024
- Location: Palo Alto (United States)
- Valuation: $*****
- Stage: Series A
- Total Funding till date: $3B
- Employee Count: 19 as on Mar 31, 2026
- Investors: DST Global, Lightspeed Venture Partners and 9 Others
- Latest Funding Round: Series A, Jul 07, 2025, $*****
- Highlight: Editors' Pick
5. Hume
Developer of text to speech and speech to speech application programming interfaces and software. It provides tools for integrating realistic AI voices into media creation platforms. It offers application programming interfaces and software development kits for various platforms. The company researches foundation models and the alignment with human well being.
Key facts about Hume
- Founded Year: 2021
- Location: New York City (United States)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $80.7M
- Employee Count: 48 as on Feb 28, 2026
- Investors: Comcast Ventures, Union Square Ventures and 8 Others
- Latest Funding Round: Series B, Oct 31, 2023, $*****
- Highlight: Editors' Pick
NFDG's Year-on-Year Investment Trends
NFDG has invested in 16 companies over the last 3 years, with an average of 5 new investments annually in the last 3 years. In 2025, it made 10 investments, while as of Mar 2026, it has made 5 investments in this year. Its most recent first time investment was in XBOW and most recent follow-on round was in Granola.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 2 | 3 | 5 |
2025 | 9 | 1 | 10 |
2024 | 4 | 0 | 4 |
2023 | 1 | 0 | 1 |
NFDG's Investments by Stage
NFDG has made 6 investments in Series B stage with an average round size of $170M, 5 investments in Series A stage with an average round size of $31.6M, 3 investments in Seed stage with an average round size of $505M and 2 investments in Series C stage with an average round size of $150M.Stage of entry | No. of Investments |
|---|---|
Series B | 6 |
Series A | 5 |
Seed | 3 |
Series C | 2 |
Note: We have considered here, only first round of investments
NFDG's Investments by Sector
NFDG has a diverse portfolio, with companies operating in the High Tech, Enterprise Applications, Artificial Intelligence - Industry Applications, Enterprise Infrastructure and Consumer. Notably, it has invested in 15 Tech companies, 13 Enterprise (B2B) companies, 12 Software companies and at least 9 companies focusing on AI-Native.Sector | No. of Investments |
|---|---|
High Tech | 9 |
Enterprise Applications | 8 |
Artificial Intelligence - Industry Applications | 6 |
Enterprise Infrastructure | 4 |
Consumer | 2 |
Others | 10 |
Note: We have considered here, only first round of investments
NFDG's Investments by Geography
NFDG has made most investments in United States (13), followed by United Kingdom where it has made 3 investments.Country | No. of Investments |
|---|---|
United States | 13 |
United Kingdom | 3 |
Note: We have considered here, only first round of investments
NFDG's recent investments
NFDG has made 5 investments in 2026 so far. Granola and XBOW are the latest among them.Here are the most recent investments by NFDG:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Mar 25, 2026 | United Kingdom | Series C | 5186 | [+3] | |
Mar 16, 2026 | United States | Series C | 7881 | [+5] | |
Mar 10, 2026 | United States | Series B | 8544 | [+4] | |
Feb 24, 2026 | United States | Series B | 7781 | [+4] | |
Feb 24, 2026 | United States | Series B | 2543 | [+20] |
Unicorns in NFDG's Portfolio
NFDG has 4 unicorns in its portfolio - Basis, Function Health, SSI and others. The most recent unicorn in their portfolio is Basis. It became a unicorn in 2026, 1 years after NFDG first invested in it.Here is a list of unicorns in NFDG's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
67 | AI agents for automating accounting workflows and engagements | 2023 | New York City | Series B | svnkguv | ||
71 | Provider of comprehensive lab testing and health monitoring membership services | 2022 | Austin | Series B | bmkfdl{ | ||
64 | Platform offering security solutions for AI models | 2024 | Palo Alto | Series A | h{mfrne | ||
77 | AI-based text to speech software | 2022 | London | Series D | jmgonlt |
Team profile of NFDG
NFDG has a team of 3 members including 1 Partner and 2 Principals located in United States. NFDG's team does not sit on the board of any company as of now.Here is a list of all team members in NFDG:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | United States | - | ||
Principal | Lincoln | - | ||
Principal | New York City | - |
Co-investors of NFDG
Over the past 3 years, 217 investors have co-invested in NFDG's portfolio companies. This includes funds and angels.
- Invested before NFDG: Nat Friedman, Daniel Gross and 91 others have invested in rounds before NFDG. There are 5 companies where Nat Friedman has invested before NFDG and 3 companies where Daniel Gross has invested before NFDG.
- Top Co-investors of NFDG: 89 investors entered a company along with NFDG. These include investors like Nat Friedman (3 companies).
- Invested after NFDG: A total of 35 investors have invested in NFDG's portfolio after their investments. Top Investors include Nvidia (2 companies), Lightspeed Venture Partners (2 companies) and KPN Ventures (1 company).
Recent News related to NFDG
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Rivan Secures £10 Million to Enhance Energy Security Through Synthetic FuelsPulse 2.0•May 31, 2025•Rivan, The Twenty Minute, NFDG, Plural
