ff Venture Capital

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 investor places on each dimension. Totals 100%.

Team-led · 34%

Metrics

12%

Revenue, growth, and unit economics

Market

31%

Size, timing, and competitive landscape

Team

34%

Founder experience and execution ability

Product

23%

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 investor.

Funded / yr

150

Deals closed in a typical year.

Led / yr

Rounds led in the last 12 months.

Pitches / yr

~3000

Decks reviewed in a typical year.

Acceptance rate

5.0%

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 investor.

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

Early-stage lead investor with a Seed-first orientation Hands-on board-level partner rather than passive capital Bi-continental platform spanning the U.S. and Europe Enterprise-heavy, thesis-driven technology investor Selective underwriter focused on durable company-building

Investment focus

Industries, themes, and typical ARR expectations.

Industries

Enterprise softwareAI and data infrastructureCybersecurity and digital identityIndustrial tech and manufacturing softwareRobotics and automationEnergy transition and sustainabilityApplied fintech and regulated infrastructure

Investment themes

AI-native software and data infrastructureCybersecurity, identity, and trust infrastructureIndustrial digitization and manufacturing softwareRobotics, autonomy, and automationEnergy transition and sustainability technologyEnterprise software from Central and Eastern EuropeApplied fintech and regulated infrastructure markets

Typical check by stage

Pre Seed$300k-$700k

Seed$300k-$1.5M

Series A$0.5M-$2M

Series B$0.5M-$1.5M

Typical ARR by stage

Pre Seed$0-$0.1M

Seed$0.1M-$1M

Series A$1M-$3M+

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.

CardFlightLead
Fintech/payments infrastructure enabling card‑present payments inside mobile apps, matching ffVC’s enterprise software and fintech thesis.
RhinoLead
Insurtech replacing security deposits with monthly fees, aligning with ffVC’s fintech and security focus.
SocureLead
Digital identity verification using AI/ML, squarely within ffVC’s security and artificial‑intelligence theses.
New Age MeatsLead
Cultivated meat/biomanufacturing at the intersection of innovative technology and sustainability, fitting ffVC’s manufacturing and advanced‑tech focus.
ForActiveLead
European fintech/payments and vertical SaaS for fitness instructors, supporting ffVC’s CEE mandate and fintech/software focus.
Better SoftwareLead
Enterprise SaaS solution, consistent with ffVC’s software investment theme.
Addepar
Wealth‑management fintech platform that aligns with ffVC’s finance and software thesis.
Rescale
Cloud HPC for engineering and enterprise, fitting ffVC’s AI‑enabled simulation and enterprise software focus.
Stocktwits
Fintech/social‑finance platform that matches ffVC’s financial‑technology investment theme.
Owlet
Connected health‑tech device, aligning with ffVC’s interest in innovative consumer hardware and IoT.

Key people

Partners who lead investments and shape the thesis.

JF
John Frankel
Founding Partner
applied AIdronesroboticsfintech
OM
Oliver Mitchell
Venture Partner
roboticsAIdronesindustrial automationclimate tech
MS
Maciej Skarul
Partner (Poland)
TMTindustrialsEuropean market
MA
Mariusz Adamski
Partner (Poland)
early-stage techCentral and Eastern Europe
MJ
Michael J. Woods
Partner
energyinfrastructure

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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Shared focus

Enterprise software

4 shared stages