JF2 Capital Partners, a new Dallas-based family office venture capital firm, announced that it has made its first deal, placing a substantial investment in Farmers Branch-based startup Selery Fulfillment.
The investment by JF2 comes on the heels of Selery receiving $1 million in investments earlier this year from Deep Space Ventures’ Stephen Hays, Mark Cuban, and angel investors.
JF2 was launched in July by Plano businessman Jon Frankel as part of his family office operation.
Managing Director Aaron Pierce did not specify the amount of the investment, but said it fits within the firm’s target range of $250,000 to $500,000 per company.
He said Selery Fulfillment, which specializes in inventory fulfillment and warehousing for e-commerce companies, was attractive for several reasons.
“We’ve been at it for a couple of months, and we found a great opportunity.”
“We’ve been at it for a couple of months, and we found a great opportunity,” Pierce said of the firm’s first investment.
“We wanted it to be a Texas-based company. It being based in Dallas makes it all the sweeter.”
Selery Fulfillment’s track record also made it attractive to JF2, Pierce said.
“[Selery Fulfillment CEO] Justin White has done just an amazing job in running it,” Pierce said.
He said Selery has proven success, but just needs capital to grow.
White also is excited to have JF2 on board backing his startup.
“JF2 brings a unique value added approach. Jason [Taylor] and I could not be more excited to have them on as an investor,” White said.
Pierce said JF2 was excited to be investing in the company along with Cuban and Hays of Deep Space Ventures.
JF2 wants to help fuel the investment ecosystem in Dallas. The firm is looking for investments in early stage companies from a variety of industries, with B2B, tech-enabled solutions, and software of primary interest.
“We look at everything,” Pierce said.
He said JF2 projects investing upward of $10 million in the next two years in sizes of $250,000 to $500,000, typically. The firm’s strategy will adjust as market conditions dictate.
Pierce said the firm hopes to invest in roughly 20 companies in the next two years.
Frankel has been an entrepreneur since the age of 17, and has started two companies, which he grew organically and monetized from $100 million to $200 million. He’s made multiple venture investments in a variety of industries.
A Dallas-area native, Pierce received a bachelor’s degree in business administration and finance from the University of Arkansas.
[Feature Illustration: Zapp2Photo via iStockphoto]
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