# SJF Ventures

SJF Ventures is a Venture Capital based in Durham, United States.

## Overview

- **Organization type:** Venture Capital
- **Headquarters:** Durham, United States
- **Region:** North America
- **Address:** Durham, NC, United States
- **Founded:** 1999
- **Assets under management:** Undisclosed
- **Website:** www.sjfventures.com
- **LinkedIn:** https://www.linkedin.com/company/sjf-ventures

## Regulatory record

- **Reports private funds:** No

## About

SJF Ventures is a venture capital firm investing in impact investing sector companies. It offers equity financings to growing businesses, either individually or in syndicates. Founded in 1999 in Durham, North Carolina, the firm has made 170 investments and 31 portfolio exits.

## Sectors

- Clean Energy and Electrification
- Education and Employment
- Government and Civil Society
- Health and Wellness
- Supply Chain and Circular Economy
- Sustainability and Climate Resilience
- AI/ML
- Enterprise Software

## Offices

- New York, NY
- San Francisco, CA
- Seattle, WA

## People

- Dave Kirkpatrick — Managing Director and Co-Founder
- Rick Defieux — Chair of the Investment Committee and Co-Founder
- Cody Nystrom — Managing Director
- Arrun Kapoor — Managing Director
- Alan Kelley — Managing Director

## Questions

### How does SJF Ventures define its impact investing mandate?

SJF Ventures targets companies where positive social or environmental outcomes are directly linked to business performance. The firm employs a Director of Impact to manage measurement and reporting, and integrates impact diligence from the sourcing stage. Kirkpatrick co-founded the Impact Capital Managers network, reinforcing a commitment to industry-level standards for impact accountability.

### Who leads investment decisions at SJF Ventures?

Investment decisions are managed by a partnership group chaired by co-founder Rick Defieux. Managing Directors Dave Kirkpatrick, Cody Nystrom, Arrun Kapoor, and Alan Kelley each lead domain-specific practices in climate, health, education, and enterprise software. The firm uses an investment committee structure common to institutional venture funds.

### Does SJF Ventures participate in fund commitments or only direct deals?

The firm makes direct equity investments into operating companies and does not publicly operate as a fund-of-funds. Its structure is that of a conventional venture capital partnership, raising discrete funds and making direct portfolio investments rather than allocating to external managers.

### Which sectors does SJF Ventures explicitly avoid?

SJF Ventures has not published explicit exclusion lists, but its investment theses — climate tech, health equity, workforce development, and sustainable supply chains — imply an avoidance of sectors with baked-in negative externalities such as fossil-fuel extraction, defense contracting, or tobacco. All known portfolio companies operate in areas where impact and revenue growth are positively correlated.

## Related profiles

- [SJBenen Advisory](https://altss.com/profile/sjbenen-advisory)
- [SJ Investment Partners](https://altss.com/profile/sj-investment-partners)

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Last updated: 2026-06-03T20:00:00.000Z

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