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The Venture Codex

Friends & Family Capital

325 Sharon Park Drive, Suite 705, Menlo Park, California, 94025, United States

Overview

Friends & Family Capital is a venture capital firm that backs entrepreneurs that transform big markets. The firm’s founding partners helped scale Palantir to $20 Billion (CFO from 2011 to 2017) and jointly backed over 20 Unicorn startups. Friends & Family Capital invests in business models that produce long-term and defensible compounding growth and cash flow. Core investments include Airtable, Anduril, Facebook, Figure, Flexport, Gusto, Mosaic, Palantir, Robinhood, SpaceX, and Verkada. For more information, please see www.friendsandfamilycapital.com.

Total investments
23
Lead investments
3
Investments · 12mo
10
Active investors
2

Sector focus

  • Finance
  • Financial Services
  • Venture Capital
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Investment portfolio

  • Heaviside Industries

    Participated · Series B · Aug 2026

    Heaviside Industries develops multi-domain autonomous precision munitions for air, land and sea platforms. Founded in 2024, the company operated in stealth for more than two years before emerging with its Series A. Heaviside has a team of over 50 engineers and operators and maintains offices in Los Angeles and Oslo. It has a roster of U.S. and allied customers and is led by CEO Phillip Walker. The company plans initial deployments of aerial and underwater munitions platforms. Financially, Heaviside announced a $28M Series A led by Interlagos to accelerate development, production and delivery of its systems.

  • Twenty

    Participated · Series B · Jun 2026

    Founded in 2024 and based in Arlington, Va., Twenty develops AI-enabled, end-to-end systems intended to provide offensive cyber capabilities to the U.S. military and Intelligence Community. The company emphasizes pairing advanced AI and automation with human judgment, rigorous evaluation, controlled deployment, and mission alignment. Twenty has rapidly reached operational relevance and has attracted early backing from investors including General Catalyst and In-Q-Tel. After its $100 million Series B led by Accel at a $1 billion valuation, Twenty’s total funding stands at $138 million. Management said the new capital will be directed into research and engineering. The company positions itself as industrializing offensive cyber warfare for the United States and its allies.

  • Astranis

    Participated · Series E · May 2026

    Astranis designs, manufactures, and operates satellites for geostationary and other high orbits to deliver dedicated, secure communications networks to large enterprises, sovereign governments, and the U.S. military. The company reports five satellites on orbit and a commercial backlog in excess of $1 billion. Astranis has been selected as a prime contractor for initial phases of multiple U.S. Department of Defense Programs of Record, including PTS-G, Resilient GPS, and Andromeda. It employs roughly 500 engineers and operates out of a 153,000 sq. ft. headquarters in Northern California. The company is scaling manufacturing capacity to accelerate satellite production and meet rising demand from commercial and government customers.

  • Swarm Aero

    Participated · Series A · Mar 2026

    Founded in 2022, Swarm Aero builds large, multimission UAVs that combine sense-and-strike capabilities with Legion, its command-and-control software that lets a single operator direct dozens—and ultimately thousands—of autonomous systems across air, land, and sea. The company positions its mass-produced aircraft as a cost-effective alternative to traditional manned combat planes, aiming to provide the U.S. military with scalable deterrence through swarming tactics. Swarm Aero has opened an 80,000-square-foot Advanced Manufacturing Center in Fayetteville, Arkansas to ramp production and intends to double its aircraft team in 2026. Its engineering leadership has designed more than 30 novel aircraft and brought software supporting 4.6 billion users to market, with experience spanning SpaceX, Northrop Grumman, Boeing, and other aerospace leaders. Headquartered in Oxnard, California, the company also maintains locations in Spokane, Washington; Fayetteville, Arkansas; and Washington, D.C. Swarm has raised a total of $59 million to date, capital it is using to accelerate development and deployment of what it calls the largest swarming aircraft ever built.

  • Northslope

    Led · Series A · Jan 2026

    Northslope develops and deploys AI application suites that sit on top of Palantir AIP, Foundry, and Gotham, giving enterprises bespoke functionality without the cost or delays of fully custom builds. Created by former Palantir Forward Deployed Engineers, the platform lets organizations such as healthcare providers, aerospace manufacturers, and renewable-energy producers tackle domain-specific problems like early cancer detection, rocket manufacturing, and grid optimization. The company combines an "applied AI" approach with a Forward Deployed Engineering model, embedding closely with customers to tailor solutions while retaining SaaS-like speed and maintainability. In the past year Northslope delivered production outcomes across multiple sectors and expanded revenue nearly 7×, signaling strong early commercial traction. Leadership believes one-size-fits-all enterprise software is obsolete and that AI must amplify each customer’s competitive edge. Looking ahead, the fresh capital will be used to scale the engineering model and broaden the firm’s Palantir-native application catalog. Northslope operates globally with hub offices in New York, London, and Denver.

Team