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Angel Investor (Individual)
fabricegrinda.com

Investments

117

Portfolio Exits

37

Funds

5

About Fabrice Grinda

Fabrice Grinda is an angel investor, serial entrepreneur and the CEO and co-founder of OLX,. Grinda served as CEO, founder or advisor to Zingy, Aucland, Allmydata, Phanfare, Sonico, Viagogo, and AxialMarket. He also worked formerly at McKinsey & Company. Grinda has a degree in economics from Princeton University.

Headquarters Location

1 Bluxome Street Apt. 405

San Francisco, California, 94107,

United States

888-405-9335

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Latest Fabrice Grinda News

“Most active investor” FJ Labs closes on $260M across two new funds

Jan 26, 2023

Fabrice Grinda says he never intended to run a venture firm. He just really (really) enjoyed angel investing. In fact, by late 2013, when he was on the verge of selling the global classifieds marketplace OLX — his third business — he says he had already written checks to more than 150 startups with his longtime friend and OLX cofounder Alec Oxenford. “We’d been working together forever. It was really a family office that was angel investing at a massive scale,” Grinda recalls. Given that flurry of checks, potential LPs, including strategic investors, family offices, and founders began to express an interest in investing with them. Oxenford ultimately decided instead to cofound another marketplace, launching Letgo in 2015. (It was later acquired by rival OfferUp.) But Grinda leaned further into investing with another friend and serial entrepreneur, Jose Marin , and by 2016, a Norwegian telecom company Telenor offered to solely fund a fund by the duo, giving them $50 million toward that end. Fast forward, and their outfit, FJ Labs, has evolved from a two-man outfit to a sprawling firm with 34 employees, including eight investors and four “full-blown partners.” It began to grow in earnest in 2018, when LPs committed to invest $175 million with the outfit. Now, Grinda is announcing that FJ Labs has garnered $260 million in capital commitments across a pre-seed fund and an opportunity-style “Series B and beyond” fund, with backing from family offices, institutional investors, and a wide array of founders, including of LinkedIn, PayPal, Supercell, Transferwise, MongoDB and Wayfair. Indeed, over time, FJ Labs has come to look less like a “lab” and more like a traditional venture firm, though Grinda rejects the comparison. “We are a venture fund,” he says, but one that does “angel investing at venture scale,” he insists. “We don’t lead. We don’t price. We don’t take board seats. We decide after two one-hour meetings over the course of a week whether we’ll invest or not because we have extraordinary pattern recognition that allows us to decide extremely quickly.” It sounds high risk, yet FJ Labs has results to show for its approach. Among its many investments, for example, it has bet early on outfits that have ballooned over time, including Alibaba, Coupang, Flexport, and Delivery Hero. Focusing on marketplaces and network effects businesses — which Grinda knows well — certainly helps. So does the portfolio that FJ Labs has built over time, which includes 900 active investments as part of what Grinda describes as the “world’s largest marketplace portfolio.” (Pitchbook data supports that FJ Labs was the most active venture outfit globally in the third quarter of last year.) It all builds on itself like its own kind of flywheel, Grinda suggests, pointing to the firm’s deal flow to underscore the point. Through FJ Labs’s 900 companies, it has connections to roughly 2,000 founders, and they “come back for their next companies, and send us their friends and employees,” says Grinda. Similarly, because FJ Labs is a “source of differentiated deal flow for the VCs, they invite us to their deals,” he says. FJ Labs will get bigger still if everything goes as planned. Grinda says that the “idea is to create an institution that is going to be a legacy and “be around “for decades.” It’s hard to imagine that Grinda, who is famously itinerant , could stick with venture capital so long. But he says to believe it. Right now there are three problems FJ Labs would like to help address, while also making money, and none of them are minor. The first is inequality of opportunity, the second is climate change, and the third is the “mental and physical well-being crisis.” One related bet is on User Interviews, a seven-year-old Brooklyn startup that helps user experience researchers source study participants across different demographics and behavioral criteria. (TechCrunch covered its newest funding here .) Other startups don’t easily fit into one of those three buckets, including Gravitics, a one-year-old Seattle startup that is developing living and work modules for space travel and that announced a $20 million round last year. (We covered that round , too.) Apparently, if there is a web3 angle, that also works. Just yesterday, a year-old London-based blockchain infrastructure company said it has $8.5 million in seed funding to build private sharding capabilities for blockchain networks, with participation from FJ Labs. A lot of the firm’s bets boil down to what FJ Labs’s perspective on what the future of humanity looks like, offers Grinda. “We have a perspective on the future of food, automobiles, real estate, work . . . we’re trying to solve the world’s problems; we’re also thesis driven.” You can find out more about what FJ Labs is funding and why from a story we published last month about the outfit, before FJ Labs closed its newest funds.

Fabrice Grinda Investments

117 Investments

Fabrice Grinda has made 117 investments. Their latest investment was in Le Collectionist as part of their Series C on December 02, 2022.

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Fabrice Grinda Investments Activity

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Fabrice Grinda Portfolio Exits

37 Portfolio Exits

Fabrice Grinda has 37 portfolio exits. Their latest portfolio exit was Granify on December 05, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

12/5/2023

Acquired

$99M

3

12/9/2022

Reverse Merger

$99M

8

11/8/2022

Acquired

$99M

3

10/24/2022

Acq - Fin

Subscribe to see more

$99M

Subscribe to see more

10

5/6/2022

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

Date

12/5/2023

12/9/2022

11/8/2022

10/24/2022

5/6/2022

Exit

Acquired

Reverse Merger

Acquired

Acq - Fin

Acquired

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Sources

3

8

3

10

10

Fabrice Grinda Fund History

5 Fund Histories

Fabrice Grinda has 5 funds, including Fabrice Grinda P6M.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/7/2015

Fabrice Grinda P6M

$2.3M

1

9/29/2015

Fabrice Grinda 6KJ

$99M

10

5/21/2015

Fabrice Grinda 6KJ

$99M

10

2/18/2015

Fabrice Grinda Fund I

$99M

10

1/22/2015

Fabrice Grinda T8F

$99M

10

Closing Date

10/7/2015

9/29/2015

5/21/2015

2/18/2015

1/22/2015

Fund

Fabrice Grinda P6M

Fabrice Grinda 6KJ

Fabrice Grinda 6KJ

Fabrice Grinda Fund I

Fabrice Grinda T8F

Fund Type

Status

Amount

$2.3M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

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