Organization · Venture Capital
First Round Capital
First Round Capital is a venture capital firm based in the United States, specializing in seed-stage funding for technology startups. Founded in 2004, it supports founders in navigating the challenges of early-stage company creation.
Overview
What First Round Capital does
What First Round Capital is
First Round Capital is a venture capital firm based in the United States, specializing in seed-stage funding for technology startups. Founded in 2004, it supports founders in navigating the challenges of early-stage company creation.
How it participates in the startup ecosystem
The current public profile supports funder and event host and publisher 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 2004
- Approximate age
- About 22 years
- Structured capabilities
- Funder · Event host · Publisher
- Last reviewed
- March 16, 2026
Official channels
Find First Round Capital elsewhere
Open the official website or a supported primary organization account.
Capability profile
First Round Capital as a funder
Investment thesis
Exclusively seed-stage investing, focused on first 18 months. Seeks compelling and contrarian insight into how the world works. Diversity as alpha generator (female-founded companies outperform by 63%). Hands-on former-founder partners.
Focus narrative
Enterprise software/SaaS, AI/ML, healthcare technology, fintech, consumer internet, hardware, and B2B SaaS. Broad sector curiosity but investments cluster in these areas. Exclusively pre-seed and seed stage.
Value beyond capital
Former-founder partners provide hands-on support during critical first 18 months. GTM experts for initial sales strategy. Dedicated recruiters for early hires. Dorm Room Fund and Graduate Fund create unique pipeline. First Round Review is one of the most influential startup publications.
Terms and economics
- Typical check
- $1,000,000–$10,000,000
- Sweet spot
- $3,500,000
Focus and fit
- Stages
- Pre-seed · Seed
- Regions
- North America
Availability
- Currently deploying
- Yes
Portfolio and track record
- Recorded portfolio count
- 847
- Investments in the last 12 months
- 20
- Last recorded investment
- July 17, 2025
- Recorded notable exits
- Payments, Oncology data, Gaming platform, Direct-to-consumer eyewear, and Pet services
Portfolio context
Exceptional seed track record: Uber, Square, Notion, Warby Parker, Roblox, Flatiron Health, Rover, K2 Space (unicorn 2025). 17 unicorns and 13 IPOs from seed investments. Strong follow-on investor relationships with a16z, Kleiner, Felicis.
Capability profile
First Round Capital as an event host
Event focus
First Round Capital invests primarily in seed-stage companies across various sectors, including enterprise, AI, hardware, healthcare, fintech, and consumer markets. The firm seeks founders who possess unique insights into their markets and are capable of addressing gaps that others may overlook. They do not limit their investments to specific industries, remaining open to innovative ideas from diverse fields.
Format narrative
First Round Capital hosts the Angel Track, an immersive retreat for angel investors designed to enhance their skills and foster community among participants.
Participant value
First Round Capital aims to support founders in their initial stages of company creation, helping them navigate the challenges of building a startup.
Format and cadence
- Event types
- retreat
- Modality
- in-person
- Startups can present
- No
Availability
- Registration state
- Accepting
- Next recorded event
- January 1, 2026
Audience and fit
- Selection criteria
- application
- Stages
- Seed
- Audience
- Founders · Investors
- Regions
- United States
Speakers and past editions
Speakers
Key team members include Josh Kopelman, Meka Asonye, Todd Jackson, Brett Berson, Bill Trenchard, Liz Wessel, Hayley Barna, Emery Rosansky, Jeff Donnon, and Erica Knowlton Bennett.
Capability profile
First Round Capital as a publisher
Editorial focus
First Round Capital is dedicated to supporting early-stage companies by providing capital and resources to help them grow. The firm invests primarily in seed-stage companies across various sectors, including AI, consumer products, enterprise solutions, fintech, hardware, and healthcare. Known for its deep involvement with portfolio companies, First Round Capital offers hands-on support and guidance.
Audience value
First Round Capital aims to empower seed-stage companies by offering not just financial backing but also strategic guidance and resources to foster growth and success.
Format and cadence
- Content formats
- podcast
- Primary platform
- Spotify
Availability
- Guest pitch state
- Not currently accepting
Audience and focus
- Audience
- Founders · Investors
- Regions
- United States
Flagship work and coverage
Flagship properties
First Round Capital produces the podcast 'Executive Function', which explores the qualities that differentiate good scale-up executives from great ones.
Common questions
What to know about First Round Capital
Upseed classifies First Round Capital under the Venture Capital organization type. Its current public profile includes funder, event host, and publisher 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
March 16, 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.