Topics
up-to-the-minute
AI
Amazon
Image Credits:Steve Jennings / Stringer / Getty Images
Apps
Biotech & Health
Climate
Image Credits:Steve Jennings / Stringer / Getty Images
Cloud Computing
Commerce
Crypto
endeavour
EVs
Fintech
fundraise
Gadgets
punt
Government & Policy
Hardware
layoff
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
Security
Social
blank space
Startups
TikTok
Transportation
speculation
More from TechCrunch
event
Startup Battlefield
StrictlyVC
Podcasts
video
Partner Content
TechCrunch Brand Studio
Crunchboard
get through Us
Venture capital business firm NFX laid off four employee in September as the firm look to “ rebalance ” its resources from its package and product teams to its investing squad , general partner Pete Flint told TechCrunch .
The layoffs include one product loss leader and three engineers , Flint said . About a week ago , Amy Lin , main product officer since 2017 , announced that she had departed the firm onLinkedIn .
NFX built and runs its own interior software system to come up and judge companies , but , Flint said , the firm has recently found that it can utilize AI to do the same stage of output with less people . Flint allege the business firm ’s product and engineering science squad stay on large and that the firm ’s investing squad was n’t affected .
In fact , the firm plans to use the freed up resources from the layoffs to reduplicate down on its investing team . Flint said NFX is looking to hire raw folks for the investment funds squad in both San Francisco and in Israel .
NFX also push multiple members of its current squad . In July , the firm promoted Sarai Bronfeld from head to cooperator . Bronfeld had been with NFX since 2021 and is ground in Tel Aviv . The firm also advance Daniel Museles to principal . Museles joined the firm as an companion in 2022 and is based in San Francisco .
Flint say that the firm may end up with more hoi polloi on the overall NFX squad than it had before the rebalance .
“ That ’s the focus for us , the investing team , which has work really well , ” Flint read . “ We will still do computer software and Cartesian product . We have had great achiever . The investing squad is going to increase 20 % , that ’s really the focus for us . ”
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
San Francisco - base NFX , founded in 2017 , invests in pre - seed and seed - level company across category like biotech , gambling , productive AI , and fintech , among others . It was one of the first VCs to approach speculation investing with a software package and data - driven scheme . NFX has raised nearly $ 1 billion across three other - phase fund in addition to one opportunity fund . It has backed numerous startups that became unicorn or went public include Lyft , Mammoth Biosciences , Doordash , and others .
NFX is not the only speculation firm who has restructured resources and let go of staff . Just last calendar week , Initialized Capital denote it was trimming multiple partners and investiture accompaniment staff . TechCrunch estimated that Initializedreduced its stave by 36 % . Greycroftlaid off five investorslast fall . Sequoia Capital cut athird of its platform teamin 2023 .
This piece has been updated to correct that Greycroft laid off five investor , not Greylock
