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Nat Friedman

Angel · San Francisco, United States

#257 Investor Ranking 2026 Top 2% of investors worldwide
87 Portfolio companies+258% in 5 years
26 Unicorns
7 Decacorns
120 Investments
Jun 2026 Last investment
01 · Biggest holdings

Nat Friedman’s biggest current holdings.

Nat Friedman is a named shareholder in 3 companies. Dealroom estimates those stakes are worth about $220M in total — the disclosed percentage × each company’s latest valuation. The 3 biggest are below, each sized by that estimate.

#CompanyEst. stakeValuationEst. value
  1. 1 The Bot CompanyRobotics · Unicorn 4.5% $2.0B $90M
  2. 2 RetoolEnterprise Software · Unicorn 2.5% $3.2B $80M
  3. 3 Reka AIEnterprise Software · Unicorn 5% $1.0B $50M

Estimated value = Nat Friedman’s disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. Nat Friedman also appears inside investor groups in Anysphere | Cursor, ElevenLabs, Perplexity, Safe Superintelligence, Suno, where a standalone stake isn’t disclosed. See the underlying shareholder registers on Dealroom →

02 · Exits

Nat Friedman’s biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from Nat Friedman’s transaction record.

$23B IPO · 2025
Entered Series B+Now $82BHosting
$60B acquisition · 2026
Entered SeedEnterprise Software
$29B acquisition · 2025
Entered Series AEnterprise Software
$2.7B acquisition · 2024
Entered Series AMedia
$1.7B acquisition · 2025
Entered Series B+Enterprise Software
Mechanize
$1.5B acquisition · 2026
Entered SeedEnterprise Software
$1.0B acquisition · 2025
Entered Series AEnterprise Software
03 · Portfolio analysis

Where Nat Friedman’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 87 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. USA101
  2. UK12
  3. India4
  4. France3
  5. Australia2
  6. Canada1
  7. China1
  8. Israel1
  9. Japan1
  10. Poland1
  11. Spain1
  12. Sweden1
By sectorCount
  1. Enterprise Software64
  2. Media12
  3. Fintech9
  4. Energy7
  5. Marketing7
  6. Health6
  7. Robotics6
  8. Security5
  9. Education4
  10. Legal4
  11. Home Living3
  12. Real Estate3
By stage enteredCount
  1. Seed41
  2. Series A36
  3. Series B+9
By growth stageCount
  1. Early Growth49
  2. Breakout Stage45
  3. Late Growth35
  4. Mature2
04 · Portfolio market map

Inside Nat Friedman’s portfolio.

The 60 highest-funded portfolio companies, of 87 tracked.

Anysphere | Cursor
Enterprise Software · Decacorn
$50B
Safe Superintelligence
Enterprise Software · Decacorn
$32B
Perplexity
Enterprise Software · Decacorn
$20B
CoreWeave
Hosting · Decacorn
$82B
Scale
Enterprise Software · Decacorn
$29B
Deel
Fintech · Decacorn
$17B
Vercel
Enterprise Software · Unicorn
$9.3B
ElevenLabs
Media · Decacorn
$11B
Suno
Music · Unicorn
$5.4B
NewLimit
Health · Unicorn
$3.1B
MatX
Semiconductors · Unicorn
$2.0B
Magic
Enterprise Software · Unicorn
$1.5B
Entrepreneurs First
Enterprise Software · Unicorn
$1.1B
The Bot Company
Robotics · Unicorn
$2.0B
XBOW
Security · Unicorn
$1.0B
Weights & Biases
Enterprise Software · Unicorn
$1.7B
Distyl
Enterprise Software · Unicorn
$1.8B
Granola
Media · Unicorn
$1.5B
WorkOS
Security · Unicorn
$2.0B
Reka AI
Enterprise Software · Unicorn
$1.0B
Retool
Enterprise Software · Unicorn
$3.2B
Character.AI
Media · Unicorn
$2.7B
EvolutionaryScale
Health
$568M
Basis
Fintech · Unicorn
$1.1B
Pika
Media
$470M
Medallion
Health
$172M
Neon
Enterprise Software · Unicorn
$1.0B
Socket
Security · Unicorn
$1.0B
RunPod
Enterprise Software · Unicorn
$1.0B
AssemblyAI
Enterprise Software
$200M
Convex
Enterprise Software
$228M
Alt Platform
Fintech
$325M
Digits
Fintech
$565M
Klarity
Legal
$280M
Hume AI
Enterprise Software
$200M
Viktor
Enterprise Software
$300M
Airplane
Enterprise Software
$128M
Tinybird
Enterprise Software
$185M
XWING
Transportation
$400M
Medra
Health
$208M
Terraform Industries
Energy
$151M
Pulley
Legal
$160M
Transform
Marketing
$80M
Rivan Industries
Energy
$133M
Consensus
Enterprise Software
$119M
Strapi
Enterprise Software
$124M
POLYWORK
Media
$112M
Prefect
Enterprise Software
$128M
Recraft
Media
$120M
Atomic AI
Health
$140M
Sumble
Marketing
$120M
Didero
Enterprise Software
$120M
Rookout
Enterprise Software
$64M
Dagger
Enterprise Software
$80M
Tolan
Media
$80M
Matic
Home Living
$96M
Doppler
Enterprise Software
$80M
Axiom
Legal
Axiom
Enterprise Software
$74M
Distributed Spectrum
Semiconductors
$100M
05 · Portfolio founders

Where Nat Friedman’s portfolio founders come from.

182 founders across the 100 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. United States137
  2. United Kingdom15
  3. France7
  4. Spain6
  5. China2
  6. India2
  7. Sweden2
  8. Argentina1
  9. Australia1
  10. British Indian Ocean Territory1
UniversityCount
  1. Stanford University17
  2. Massachusetts Institute of Technology14
  3. Harvard University12
  4. University of Oxford7
  5. University of California, Berkeley5
  6. University of Cambridge5
  7. Horace Mann School4
  8. Columbia University3
  9. HETIC – School of Internet and Digital Technologies3
  10. Stanford University Graduate School of Business3
Previous companyCount
  1. Alphabet | Google24
  2. Microsoft12
  3. Meta8
  4. Massachusetts Institute of Technology7
  5. IBM6
  6. McKinsey & Company5
  7. Quora5
  8. Stanford University5
  9. Apple4
  10. Carto4