Organization · Venture Capital
First Analysis
First Analysis is a Chicago-based venture capital and transaction advisory firm founded in 1981, specializing in investments in growth-stage B2B technology companies. The firm leverages over 40 years of sector research to support its investment strategy.
Overview
What First Analysis does
What First Analysis is
First Analysis is a Chicago-based venture capital and transaction advisory firm founded in 1981, specializing in investments in growth-stage B2B technology companies. The firm leverages over 40 years of sector research to support its investment strategy.
How it participates in the startup ecosystem
The current public profile supports funder capabilities. Each capability below is shown separately so organization identity and role-specific information do not get conflated.
Operational profile
Organization status and context
Organization status describes the entity itself. Funding and program availability appear within the relevant capability profile.
- Operational status
- Active
- Organization type
- Venture Capital
- Founded
- Founded in 1981
- Approximate age
- About 45 years
- Structured capabilities
- Funder
- Last reviewed
- May 3, 2026
Official channels
Find First Analysis elsewhere
Open the official website or a supported primary organization account.
Capability profile
First Analysis as a funder
Investment thesis
First Analysis invests where its sector research gives it differentiated insight, focusing on entrepreneur-driven, capital-efficient B2B technology companies with proven business models and visible customer success.
Focus narrative
First Analysis targets early to growth-stage companies in sectors such as cybersecurity, e-commerce optimization, enterprise productivity, the future of work, go-to-market technology, healthcare IT, infrastructure technology, the Internet of Things, pharmaceutical IT, and supply chain management. The firm seeks to invest in companies with annual recurring revenues between USD1M and USD10M.
Value beyond capital
First Analysis provides extensive support to its portfolio companies, including strategy development, pricing, market sizing, positioning, follow-on investor introductions, channel partnerships, acquisition strategy, board recruitment, executive talent, governance, compensation planning, KPI reporting, and operational scaling.
Terms and economics
- Typical check
- $3,000,000–$10,000,000
- Sweet spot
- $5,000,000
Focus and fit
- Stages
- Series A · Growth Equity
- Regions
- North America
Availability
- Currently deploying
- Yes
Portfolio and track record
Portfolio context
TPN.health: Behavioral health technology platform for care navigation and clinician connectivity. Gradient Cyber: Managed extended detection and response provider for mid-market organizations. Applied StemCell: Cell and gene therapy CRO/CDMO utilizing genome editing and iPSC technology. Dina: Home-centered care coordination software for health plans and providers. Kno2: Secure patient information exchange and healthcare communication platform. Sware: Digital validation and process automation for regulated life sciences companies. Cycle Labs: Enterprise-grade test automation for complex systems.
Common questions
What to know about First Analysis
Upseed classifies First Analysis under the Venture Capital organization type. Its current public profile includes funder capabilities.
Source and update disclosure
Know what this page is based on
Source basis
Public organization and program material, official websites, and structured Upseed records.
Last reviewed
May 3, 2026
Known limits
Capability profiles appear only when a structured public profile also contains decision-useful role evidence. Terms and availability can change.
Upseed is an independent guide. It is not affiliated with or endorsed by the organization described on this page.