FJ Labs

FJ Labs is an investment firm that focuses on marketplaces and network-effect businesses. Its site says it has invested in companies including Alibaba, Coupang, Flexport, Delivery Hero, Shipbob, Properly, Wallapop and Rappi, and describes its portfolio as one of the largest collections of marketplace startups, with more than 30 of its investments having become unicorns. The firm says it looks for founders who show passion, persistence and the ability to execute on their vision, and that it has backed thousands of entrepreneurs pursuing this kind of transformation. FJ Labs describes its style as angel investing carried out at a larger, venture-style scale, and its site links to a full list of more than 1,000 companies it has invested in.