At a Glance
First Round Capital was founded in 2004 by Josh Kopelman, Rob Hayes, and Chris Fraelic with a mission to be the most helpful investor for seed-stage entrepreneurs. The firm pioneered the concept of platform investing, going beyond capital to provide extensive founder support through First Round Review (their content platform), Dorm Room Fund (their student program), and various community initiatives. Their investment approach focuses on finding exceptional founders at the earliest stages, typically writing $500K-$3M checks across enterprise software, consumer applications, and emerging technologies. Notable investments include Uber, Square, Warby Parker, and Roblox, with the firm achieving multiple unicorn exits. The team is led by partners including Josh Kopelman, Phin Barnes, and Hayley Barna, who bring deep operational experience. What distinguishes First Round is their comprehensive founder platform, including talent services, CEO coaching, and peer networks that continue supporting portfolio companies throughout their growth journey.
“Invests at the earliest stages and provides unmatched community and operational support to founders.”
| Fund | Vintage | Size | Status |
|---|---|---|---|
| First Round Capital Fund VII | 2021 | $440M | Investing |
| First Round Capital Fund VI | 2018 | $300M | Harvesting |
| First Round Capital Fund V | 2015 | $135M | Harvesting |
| First Round Capital Fund IV | 2012 | $135M | Fully Realized |
| First Round Capital Fund III | 2009 | $75M | Fully Realized |
| First Round Capital Fund II | 2006 | $50M | Fully Realized |
| First Round Capital Fund I | 2004 | $30M | Fully Realized |
2023
Notion
Series C2022
Ramp
Series C2021
Clubhouse
Series B2020
Warby Parker
Series D+2019
Cameo
Series B$28M2018
Ro
Series A$88M2017
The Athletic
Series B$20M2015
Square
Series D+2012
Uber
Series A$11M2009
Mint
Series A$4.7M2008
Flurry
Series A$3.5M2007
First Round Capital primarily invests at the Pre-Seed, Seed stages. This means they focus on companies that are at the earliest idea or prototype phase.
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.
First Round Capital focuses on investments in Enterprise, Consumer, AI, Fintech, DevTools. Their portfolio reflects deep expertise and networks within these sectors.
First Round Capital's typical investment check size ranges from 500000 to 10000000. Actual amounts may vary based on the stage, sector, and specific opportunity.
First Round Capital manages approximately $2.5B+ in assets under management (AUM) across their funds.