First Round Capital
UnclaimedAt a Glance
- Check Size
- $750K – $4M
- Stage
- Seed, Series A
- Sectors
- Enterprise, AI
- Founded
- 2004
- HQ
- San Francisco, CA
About First Round Capital
First Round Capital is a venture capital firm based in San Francisco, CA founded in 2004. First Round is a venture capital firm that works with founders exclusively at the earliest stages of company building, often when all they have is an “imagine if.” The firm focuses on Seed, Series A investments across sectors including Enterprise, AI. The firm manages $1.4B in assets under management. Notable portfolio companies include Uber, Square, Warby Parker, Notion, Roblox, Flatiron Health, AngelList and Mint. Early-stage investor focused on supporting student founders and entrepreneurs with operating playbooks and community resources.
Investment Thesis
“Early-stage investor focused on supporting student founders and entrepreneurs with operating playbooks and community resources.”
Sector Focus
Investment Stage
Notable Portfolio Companies
Key Team (7)
Fund History (7 funds)
| Fund | Vintage | Size | Status |
|---|---|---|---|
| — | $500M | — | |
| — | $300M | — | |
| — | $135M | — | |
| — | $125M | — | |
| — | $75M | — | |
| — | $50M | — | |
| — | $40M | — |
Fund History
First Round's SEC record starts with Fund III, because Form D filing only went electronic in 2009. First Round Capital III closed $126.4 million from 32 investors in October 2010, with a Fund III-A vehicle following that December. Fund IV sold $149.5 million of a $157.5 million offering to 70 investors in 2012. Fund V and Fund VI each took exactly $174.95 million, in June 2014 and August 2016, from 74 and 72 investors.
Fund VII was offered at $209.4 million in October 2018 and Fund VIII at $209.5 million in October 2020, with Fund VIII ultimately selling $296.4 million to 171 investors by September 2021, the same month the firm opened the $250 million First Round Capital VIII-F. Fund IX launched in May 2022 with a $500 million offering, Fund X followed in September 2025 at the same size, and First Round Capital X-F sought $325 million in August 2026. Every flagship is paired with a small Partners Fund sidecar for the firm's own people, sized at $16 million for Funds IX and X.
SEC Fund Filings
- Vehicles filed, last 24 months
- 4
- Latest filing
First Round Capital filed a Form D for 4 fund vehicles between Sep 26, 2024 and Sep 25, 2026.
| Fund vehicle | Source |
|---|---|
| First Round Capital X-F Partners Fund, L.P. | SEC Form D, filed |
| First Round Capital X-F, L.P. | SEC Form D, filed |
| First Round Capital X Partners Fund, L.P. | SEC Form D, filed |
| First Round Capital X, L.P. | SEC Form D, filed |
A Form D is the notice a fund files with the SEC when it raises money in a private offering. Feeder funds, parallel funds and SPVs each file their own, so the count measures filing activity, not the number of flagship funds.
Source: SEC EDGAR Form D filings for pooled investment funds, original filings only (amendments excluded). Our filing data starts Jul 1, 2024. Vehicles are matched to First Round Capital by fund name and checked against the sponsor address and named principals on each filing; offering amounts are not shown. Each “SEC Form D” link opens an EDGAR full-text search for that vehicle’s exact name, where the filing itself is listed. See every new fund filing on the Form D Radar.
Investment Timeline (13 deals)
2022
Ramp
Series C2021
Superhuman
Series B2020
Notion
Series A2019
Poshmark
Series A2018
Ring
Series A2017
Warby Parker
Series A$12.5M2016
Robinhood
Series A2015
Square
Series A2014
Mint
Series A2013
Uber
Series A$11M2012
Flurry
Series A2011
GroupMe
Seed2010
Looker
SeedTeam (3)
Related Articles (6)
Frequently Asked Questions
What stage does First Round Capital invest at?
First Round Capital primarily invests at the Seed, Series A stages. This means they focus on companies that are building their initial product and finding product-market fit.
Where is First Round Capital located?
First Round Capital is headquartered in San Francisco, CA. Many of their portfolio companies are also based in this region, though they invest across geographies.
What sectors does First Round Capital focus on?
First Round Capital focuses on investments in Enterprise, AI. Their portfolio reflects deep expertise and networks within these sectors.
What is First Round Capital's typical check size?
First Round Capital's typical investment check size ranges from $750K to $4M. Actual amounts may vary based on the stage, sector, and specific opportunity.
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