Meta Platforms is offering to purchase a minority stake in funds managed by NFDG, a venture firm founded by former AI hires Nat Friedman and Daniel Gross. This move allows limited partners in the funds to cash out a portion of their investments through a tender offer as Friedman and Gross transition to roles at Meta.

Meta Platforms Inc. is reportedly pursuing former GitHub CEO Nat Friedman to enhance its AI research initiatives, alongside his partner Daniel Gross. The company aims to bolster its AI team amid fierce competition from rivals like OpenAI and Google, recently investing heavily in talent and startups to advance its capabilities in artificial intelligence.