2ndF Overview

Who Are We?

With lots of exciting external activity, it’s difficult to find the time for introspection. 2022 was a packed year, and we’re keen to focus on housekeeping and internal alignment a bit more this quarter. As such, we felt an overview/who we are post to be obligatory.

Let’s start with our name… 2 points right off the bat:

1. 2ndF (pronounced “two-in-dee-eff”) is shorthand for “Second Foundation” referencing Isaac Asimov’s Foundation series. Bill is a tremendous fan of Asimov, and the concept of psychohistory is at the center of our organizational DNA.

2. We are a family office, not a foundation - the presence of “foundation” in our name is solely a nod to Asimov, and has nothing to do with our corporate structure.

Branding was not necessarily an issue we anticipated, which seems hard to believe in hindsight.

Our Mission is to drive the inclusive growth of the Triangle ecosystem to a point of national dominance by 2033. We want our region to dream bigger, and eliminate obstacles founders and builders of all backgrounds face in the local ecosystem, enabling rapid growth.

We focus on 3 key initiatives driving towards this mission:

1. Capital Formation

   1. Local founders often struggle to find capital locally, particularly through the seed-stage. We address this problem through 2ndF’s ability to invest directly into early stage orgs, and our network of local angels (a group largely comprised of former GDC employees and investors).

   2. We also understand founders’ needs for quality Series A and B capital (often coming from outside the area) and help our founders build relationships with trusted later-stage investors.

2. Entrepreneurial Ecosystem Development

   1. Similar to the capital availability challenge, founders are constantly searching for high quality local resources in the form of mentors, senior-level management, content, etc. to assist in scaling. Our role focuses on activating and bolstering resources currently available in the Triangle, while simultaneously pulling additional individuals and orgs to the area we believe are appropriately aligned to grow our ecosystem.

3. Minority Education

   1. Again, inclusivity is at the heart of all our activity. Far too often, rapidly growing tech-centered ecosystems leave minority populations in their wake, and increase socioeconomic disenfranchisement. Additionally, the state of minority involvement in tech and venture is bleak with black founders raising just 1% of overall VC dollars in 2022.

   2. Our philanthropic partnerships focus on increasing the resources available to high achieving minority students, generally starting in the 11 - 13 year age range, with continued support through their early professional careers.

These initiatives are designed to create a flywheel of re-investment in the community that draw participation from a thriving and engaged population - all revolving around the axis of investment and philanthropy.

This is who we are. Scrappy founders with convicted teams excite us. We look to build relationships for the long haul - believing true impactful growth takes time, and should be prioritized over short-term gains. We’re devoted to growing this ecosystem in a truly inclusive and positive manner, and are excited for the future.