When they first met in 2007, the now brothers-in-law bonded over their passion for venture capital, eventually leading them to invest together from their personal capital.
By 2020, Anderson and Fogelsong decided to take their investing relationship to the next level by launching their first fund with external capital.
That fund, which the firm considers its second vehicle, closed at $91.5 million, well above its initial target of $60 million.
So,they named their firm “Friends & Family Capital” to capture that spirit, their own family connection, and Fogelsong’s roots in a prominent Silicon Valley VC family.
Like its previous fund, Friends & Family’s third fund will be used to invest in “classic B2B enterprise software” companies and hardware businesses with recurring revenue components.
After naming Phil Graves the chief financial officer of alternative protein maker Meati Foods at the beginning of February, he is now the company’s new chief executive officer.
The company also said it was reducing its workforce by 13% as Meati works to “build a financially sustainable business,” Graves told TechCrunch exclusively.
Products are now in over 3,600 retail locations nationwide, including Whole Foods Market, Meijer, Cub Foods and Sprouts Farmers Market.
Graves even said the company has a goal of expanding that to 10,000 locations before the end of 2024.
Once fully ramped up, the facility will have the capability of producing more than 45 million pounds of product, Huggins told TechCrunch at the time.
But when is the right time to hire a CFO, and is a full-time CFO even necessary in this age of C-level-as-a-service?
It is common for founders to think narrowly about accounting when considering whether to hire a CFO.
It is common for founders to think narrowly about accounting when considering whether to hire a CFO.
Startup coach and CFO Evgeny Popov said that hiring a CFO was a no-brainer, akin to finding a CTO for your tech company.
“Unfortunately, hiring a CFO is not an obvious move for founders because most founders come from the product or tech worlds and don’t see the CFO as vital to growth.”
