The most active global VC firm on deal terms, fatality rates and the drawbacks of credit lines

Yesterday, we had the chance to catch up with Fabrice Grinda, a serial entrepreneur who co-founded the free classifieds site OLX — now owned by Prosus — and who has in recent years been building up his venture firm, FJ Labs. He often likens the outfit to an angel investor “at scale,” saying that like a lot of angel investors, “We don’t lead, we don’t price, we don’t take board seats. We decide after two one-hour meetings over the course of a week whether we invest or not.”
The outfit, which Grinda co-founded with entrepreneur Jose Marin, ha

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