ff Venture Capital is a bi-continental early-stage VC firm investing primarily at Pre-Seed, Seed, and Series A in founder-led companies building enduring businesses in enterprise-heavy and emerging technology markets. The firm is most active where it can lead early, take meaningful ownership and a board seat, and provide hands-on operating support around AI, industrial transformation, security, sustainability, and automation.
Evaluation weights
How much weight this firm places on each dimension. Totals 100%.
Revenue, growth, and unit economics
Size, timing, and competitive landscape
Founder experience and execution ability
Differentiation and technical quality
- Strong bias toward team quality over pure early-stage numbers
- Prefers Seed investments where ffVC can lead and materially shape outcomes
- Favors enterprise and infrastructure businesses over consumer-first models
- Looks for early proof of monetization rather than waiting for scale metrics
Pitch difficulty
How hard it is to get a meeting and close funding from this firm.
- Funded / yr
- 10Deals closed in a typical year.
- Led / yr
- 1Rounds led in the last 12 months.
- Pitches / yr
- ~7800Decks reviewed in a typical year.
- Acceptance rate
- 0.1%Share of pitches that get funded.
Estimated — public data is not fully disclosed.
Why it's hard
- Screens roughly 3,000 deals annually and invests in about 5%
- Concentrated around specific themes like AI, security, industrial tech, and sustainability
- Typically wants to lead, take a board seat, and own 8-10%
- Requires strong founder quality, early commercial evidence, and a believable $100M+ path
ffVC is accessible in terms of stage, but highly selective in practice. The firm screens thousands of opportunities, invests in only a small fraction, focuses on a narrow thematic set, and prefers situations where it can lead and materially influence company outcomes.
Green flags
What drives a yes for this firm.
- Exceptional founder-operators with domain depth, hunger, and stamina
- A large, evolving market where a $100M+ revenue business is believable
- Evidence ffVC can be a high-impact partner through leadership and board involvement
- Early revenue traction or strong commercial proof points, even at Seed
- Clear emerging moat via proprietary data, workflow embedment, IP, or regulatory advantage
Red flags
What kills deals and gets a fast no.
- Pure consumer, gaming, or gambling models outside ffVC's core focus
- Hard-hardware businesses without a strong enterprise software or revenue layer
- Weak transparency, missing diligence data, or credibility concerns
- No clear path to venture-scale revenue or durable defensibility
- Founders who are not commercially minded or do not welcome active investor involvement
How to win
Patterns that lead to successful pitches.
- Show a founder-market fit story tied to a painful enterprise problem
- Demonstrate early revenue traction, paid pilots, or concrete customer demand
- Frame the business as capable of reaching $100M+ revenue in a large evolving market
- Explain the moat clearly: data, workflow lock-in, IP, network effects, or regulation
- Position ffVC as a value-added lead investor with a clear role in the next phase
Fund strategy & identity
Who they are and how they operate.
- Invest early at formation, Pre-Seed, and Seed, often leading rounds
- Target roughly 8-10% ownership through initial checks and active follow-on
- Concentrate on companies with credible paths to $100M+ revenue scale
- Back businesses with emerging defensibility through data, IP, network effects, or regulation
- Use sector expertise, operator support, and corporate networks to influence outcomes post-investment
Firm identity
Investment focus
Industries, themes, and typical ARR expectations.
Industries
Investment themes
Typical check by stage
Typical ARR by stage
Investment thesis
Core beliefs and strategy behind their investing approach.
ff Venture Capital’s thesis centers on backing “driven problem solvers” building enduring companies in emerging, enterprise‑heavy markets where the firm can add hands‑on value. The firm invests across AI‑native software and data infrastructure, industrial/manufacturing digitalisation, energy transition and sustainability, applied robotics/automation, and security/cyber. It targets businesses with credible pathways to $100M+ revenue run‑rate, favouring domains where defensible moats—data advantage, network effects, deep IP, or regulatory barriers—can emerge. ffVC typically enters at the earliest formation stages (pre‑seed/seed), often leading and taking a board seat, and provides intensive post‑investment operating support. Geographically it is bi‑continental: US (New York) and Europe (Warsaw), with a €60M “ff Red & White” fund focused on Central‑European enterprise software, industrial tech, and sustainability, linking startups to Japanese corporate partners. The firm avoids pure consumer‑focused games/gambling and hard‑hardware plays that lack clear enterprise revenue models. Its core belief is that exceptional founder‑operators executing in large, evolving markets can create outsized value when supported early by ffVC’s network, capital, and operational expertise.
Decision patterns
How they evaluate and make investment decisions.
ffVC’s investment decisions are anchored on the quality of the founding team and the firm’s ability to materially influence outcomes. Partner John Frankel stresses backing “very strong teams” in “interesting spaces” where large businesses can be built, and only when ffVC can be an engaged, difference‑making partner rather than a passive check. Seed is the preferred entry point because it offers the greatest opportunity for impact; the firm typically leads rounds, takes board seats, and checks $300K–$700K for ~8–10% ownership. In diligence, ffVC prioritises (1) team and domain expertise, (2) alignment with its thematic focus (AI, robotics, security, industrial/energy transformation), (3) a credible path to $100M+ revenue, and (4) defensible moats. Early commercial traction and revenue quality are key signals; red flags include nondisclosure, data gaps, or a lack of focus on revenue. The firm is highly selective, investing in a small percentage of its pipeline, and follows on until valuations approach $50M pre‑money, at which point it steps back to manage risk.
Risk appetite
ffVC shows an aggressive stance on entering the earliest stages, actively leading seed investments and taking board seats, but follows a conservative, highly selective process—screening ~3,000 deals annually, investing in only ~5%, and limiting follow‑on exposure to ~ $50 M pre‑money valuations. It targets 8‑10 % ownership with $300‑$700 k checks, reflecting a balanced risk profile: aggressive in stage and ownership ambition, conservative in diligence, capital allocation, and later‑stage exposure.
Notable investments
Key portfolio companies and why they fit the thesis.
- CardFlightLeadFintech/payments infrastructure enabling card‑present payments inside mobile apps, matching ffVC’s enterprise software and fintech thesis.
- RhinoLeadInsurtech replacing security deposits with monthly fees, aligning with ffVC’s fintech and security focus.
- SocureLeadDigital identity verification using AI/ML, squarely within ffVC’s security and artificial‑intelligence theses.
- New Age MeatsLeadCultivated meat/biomanufacturing at the intersection of innovative technology and sustainability, fitting ffVC’s manufacturing and advanced‑tech focus.
- ForActiveLeadEuropean fintech/payments and vertical SaaS for fitness instructors, supporting ffVC’s CEE mandate and fintech/software focus.
- Better SoftwareLeadEnterprise SaaS solution, consistent with ffVC’s software investment theme.
- AddeparWealth‑management fintech platform that aligns with ffVC’s finance and software thesis.
- RescaleCloud HPC for engineering and enterprise, fitting ffVC’s AI‑enabled simulation and enterprise software focus.
- StocktwitsFintech/social‑finance platform that matches ffVC’s financial‑technology investment theme.
- OwletConnected health‑tech device, aligning with ffVC’s interest in innovative consumer hardware and IoT.
Co-invested with
Other firms in this catalog who've backed the same companies.
No catalog overlap found yet. Co-investors are derived from each firm's notable investments — connections may surface as more firms are added.
Partners
Full firm roster — key partners, partners, and the wider team.
Key partners
John Frankel
Founding Partner
ff Venture Capital
Founding Partner of ff Venture Capital and long-time seed and early-stage technology investor.
Oliver Mitchell
Partner
ff Venture Capital
Partner at ff Venture Capital focused on robotics, AI, drones, industrial automation, and climate tech.
Maciej Skarul
Partner, PL
ff Venture Capital
Partner at ff Venture Capital in Poland, with investment banking and M&A experience.
Mariusz Adamski
Partner, PL
ff Venture Capital
Partner at ff Venture Capital in Poland, focused on European operations, fundraising, and CEE investments.
Michael J. Woods
Partner / US
ff Venture Capital
Public sources identify Michael J. Woods as associated with ff Venture Capital and as an investor/advisor with finance, venture, and infrastructure experience.
Partners
Taro Hizume
Partner / JP
ff Venture Capital
ffVC Partner focused on CEE venture investing and Japan-Europe cross-border growth.
Masayuki Ohta
Partner / JP
ff Venture Capital
ffVC Partner focused on CEE startups, Japan connectivity, technology and healthcare investing.
Alex Katz
Partner and General Counsel
ff Venture Capital
ffVC partner and general counsel overseeing legal, finance, compliance, and investment processes.
Public voice
Notable statements and public positions.
- “Seed… it’s where we think we can make the most difference. We tend to stop investing at the rounds about a $50M valuation…”
- “We really like companies that can get early revenues and CEOs and teams that appreciate it.”
- “Great team, with a big vision, and the hunger, passion and stamina to achieve it.”
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