About This Fund
Granola NFDG is an investment vehicle established by NFDG, the venture capital firm co-founded by Nat Friedman and Daniel Gross, to lead the $43 million Series B funding round in Granola, a London-based AI meeting intelligence startup. The round, announced in May 2025, valued Granola at $250 million and brought the company's total funding to $67 million. NFDG's lead investment in Granola reflects the firm's central thesis of backing founders building at the frontier of applied artificial intelligence, particularly products that dramatically improve human productivity in professional environments.
NFDG was formed by Nat Friedman, the former CEO of GitHub (acquired by Microsoft for $7.5 billion), and Daniel Gross, a former Y Combinator partner and co-creator of the AI Index. The two co-founders launched their inaugural fund in 2023, raising $1.1 billion — making it one of the largest debut venture capital funds in history. The fund achieved a reported 4x return on paper within two years before Nat Friedman subsequently joined Meta. NFDG has made approximately 16 investments, including high-profile companies such as ElevenLabs, Function Health, and other AI-first ventures. The firm typically invests at Series A through Series B stages, with a focus on high-conviction positions in companies building with advanced AI models.
The Series B round in Granola was supported by existing investors Lightspeed Venture Partners and Spark Capital, alongside angel investors including Guillermo Rauch (Vercel), Amjad Masad (Replit), Tobi Lütke (Shopify), and Karri Saarinen (Linear). The round also launched Granola's team collaboration features, expanding the product from an individual meeting tool into a shared workspace for professional teams. Granola was founded in March 2023 by Chris Pedregal and Sam Stephenson and subsequently raised a $125 million Series C led by Index Ventures in March 2026, achieving a $1.5 billion valuation.