United States · 
What does First Analysis invest in?
First Analysis invests most often at Venture and Series A (50% of the rounds on record), in sectors such as Cybersecurity, E-commerce and Enterprise Productivity.
First Analysis highlights
- 01
40 rounds on record
- 02
Mostly Venture and Series A: 50% of its rounds
- 03
Sole investor in 5 rounds, median $4.0M
- 04
8 exits from the portfolio
What they do
First Analysis leverages 40+ years of expertise to partner with growth-focused B2B tech companies, offering deep research, venture capital and advisory services.From their own website
- Type
- VC firm (from a list, unverified)
- Cheque size
- Not stated
- Stages
- SeedSeries ASeries BGrowth
- Sectors
- CybersecurityE-commerceEnterprise Productivity
- Based in
- Chicago, United States
- Cold pitches
- Not stated
The record
Every round we can evidence, newest first40 appearances
- 2025
1 round
- Oct
- 2019
3 rounds
- Aug
- Jul
- Mar
- 2017
1 round
- Sept
- 2016
1 round
- Jun
- 2015
4 rounds
- Nov
- Oct
- Jul
- Jul
- 2014
4 rounds
- Aug
- Jul
- Mar
- Jan
- 2013
3 rounds
- Dec
- Sept
- Aug
- 2012
1 round
- Mar
- 2011
1 round
- Dec
- 2010
1 round
- Oct
- 2008
3 rounds
- Aug
- Jun
- Jan
- 2007
3 rounds
- Aug
- Jun
- Mar
- 2006
5 rounds
- Nov
- Nov
- Sept
- Jun
- Jan
- 2005
4 rounds
- Sept
- Aug
- Mar
- Feb
- 2004
1 round
- Mar
- 2003
1 round
- Jan
- 2001
2 rounds
- Aug
- Apr
- 1999
1 round
- Dec
An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.
The team
Named by the firm itself, on a filing, its Form ADV or its company registration8 named
COCorey Oliver GreendaleExecutive Officer, PromoteriFiling they signed
DJDavid John LeshukChief Compliance OfficeriForm ADV
FOF. Oliver Nicklin, Jr.Executive Officer, PromoteriFiling they signed
HOHoward Oliver SmithExecutive Officer, PromoteriFiling they signed
JOJames Oliver MacdonaldExecutive Officer, PromoteriFiling they signed
MOMathew Oliver NicklinExecutive Officer, PromoteriFiling they signed
MOMatthew Oliver NicklinExecutive Officer, PromoteriFiling they signed
TOTracy Oliver MarshbanksExecutive Officer, PromoteriFiling they signed
We also hold 23 people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.
What the register says
From the firm's own filings with the SEC, which it must file accurately by law
$186Massets it managesOct 2026
Registeredinvestment adviserfull reporting to the SEC
- Legal name
- First Analysis Capital Management LLC
- SEC number
- CRD 161373
Funds on its Form ADV
12 private funds, $199M in gross assets · filed May 2024
Private equity 7Venture 5
- First Analysis Fund XII+, L.P.Venture63 investors$82M
- First Analysis Private Equity Fund V-A, L.P.Private equity22 investors$67M
- First Analysis Private Equity Fund V, L.P.Private equity6 investors$21M
- FA Private Equity Fund IV, L.P.Private equity25 investors$10M
- First Analysis Fund XII+ (Cayman), L.P.Venture2 investors$7.8M
- First Analysis Private Equity Fund V-C, L.P.Private equity2 investors$6.0M
- First Analysis Fund XIV-A, L.P.Venture43 investors$2.8M
- First Analysis Fund XIV, L.P.Venture10 investors$874K
- First Analysis Fund XIV (Cayman), L.P.Venture2 investors$567K
- FA Private Equity Fund IV GMBH & CO. Beteiligungs KGPrivate equity2 investors$444K
And 2 more on the filing.
What they claim to have backed
From their own portfolio page (on their website)
9 of 18 we have independently watched raise
AppliedstemcellCoolrgroupCyclelabsDrivemywayEdgeiqIntelligentlocationsStamus-networksSwareVisageAvenuezFINRA's BrokerCheckGradientcyberIhcscorpInsellerateKno2LenderpriceYunutpn.health
Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.
Exits from the portfolio
Companies it backed that were later bought or listed8 in all
NitroSecurityBought by McAfeeUndisclosedOct 2011
EraGen BiosciencesBought by Luminex$34MJun 2011
Movero TechnologyBought by Movero, Inc.UndisclosedFeb 2011
WimbaBought by BlackboardUndisclosedJul 2010
Initiate SystemsBought by IBM (International Business Machines)UndisclosedFeb 2010
BladeLogicBought by BMC Software$800MMar 2008
Go2call.comBought by deltathreeUndisclosedFeb 2007
SecurePipeBought by Trustwave HoldingsUndisclosedJan 2007
An exit counts when it came after the firm's first round in the company. From historical deal records.