F-theory is a branch of string theory. It was developed by Cumrun Vafa. The “f” supposedly stands for “father”.
Vafa proposed that certain solutions of Type IIB string theory could actually be described in terms of a simpler solution of a different theory with 12 dimensions. This is more than the 10 dimensions of superstring theory and the 11 of M-theory.
F-theory is different from M-theory, in that, all of the spacetime dimensions are not treated on equal footing. 2 dimensions of F-theory are different than the others. These two dimensions are always curled up. Thus, to get to 3 extended dimensions of space that we observe, we have 8 compactified dimensions (instead of the 6 of superstring theory that take the geometry of a Calabi-yau and the 7 of M-theory that can take the form of a G2 manifold).
Indeed, the F-theory description, is in fact, simpler. The geometry of the extra dimensions can also include information about the branes that exist in the solutions.
F-theory, and its rich structure, allows physicists to reconstruct much of the phenomenon of the Standard Model and Grand unified theories. In fact, there have been new models of GUTs using F-theory.