Who wants t0 #FF ff Venture Capital?

Betabeat will be getting some new neighbors! Hopefully the air has cleared and we can all grab lunch.

John Frankel, who has been an angel and VC since the dot-com days, announced today that his ff Venture Capital is building out 5,000 square feet of new office space at W. 36th. It will be the home base for Frankel and his new team, partner David Teten and venture partner Mike Yavonditte, who are joining the firm.

Portfolio companies like Parsley will be using the space too, with twelve desks free for funded companies in all, but don't call it an incubator! "I hate that word. I can't tell you why, I just do," Frankel told Betabeat by phone.

ff Venture Capital is more than halfway to raising its second fund, pegged around $25 million. One of its biggest wins was Quigo, where Mike Yavonditte served as CEO, which sold to AOL for $340 million back in 2007. It's made 11 investments in 10 companies since December says Frankel.