What does First Round Capital invest in?
First Round Capital invests most often at Series A and Seed (63% of the rounds on record), in sectors such as Enterprise_software, AI and Infrastructure.

United States · Investor
Last cheque observed Oct 2026; 807 cheques on record.
Deploying nowNew fund $296M, Aug 2026VC firm
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61 cheques in the last 12 months
Mostly Series A and Seed: 63% of its rounds
Sole investor in 16 rounds, median $1.9M
84 exits from the portfolio
First Round is a venture capital firm that works with founders exclusively at the earliest stages of company buildingFrom their own website
Every round we can evidence, newest first807 appearances
55 rounds
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.
Named by the firm itself, on a filing, its Form ADV or its company registration16 named
We also hold 45 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.
From the firm's own filings with the SEC, which it must file accurately by law
Companies it backed that were later bought or listed84 in all
The latest 20 here. An exit counts when it came after the firm's first round in the company. From historical deal records.
The investors most often in the same rounds as First Round Capital. A count of rooms they were both in, not a relationship either has claimed.
The latest companies First Round Capital put money into.
6 episodes naming First Round Capital in the title, and 4 more that mention it.

Uncapped #8 | Josh Kopelman from First Round Capital
WithJosh Kopelman
MentionsFirst Round Capital

339. Founding Renaissance Technologies & First Round Capital, The Origins of Idealab, Reasons Not to Grow your Fund, and How Sourcing from YC Has Changed (Howard Morgan)

Bill Trenchard - First Round Capital (Manager Meetings, EP.23)
WithBill Trenchard
MentionsFirst Round Capital

Josh Kopelman, First Round Capital
WithJosh Kopelman
MentionsFirst Round Capital

Breaking News: Meet First Round Capital's Newest Partner, How To Approach Generational Transition as a Venture Firm & The Dangers of Attribution In Venture
MentionsFirst Round CapitalGooglePhin Barnes+1

Brett Berson and Phin Barnes on Lessons Learned From Over a Decade at First Round Capital

20VC: Five Predictions for a World of Agents | The Ads Business Model Will Die | Biggest Lessons from Working with Elon Musk at Twitter with Parag Agrawal, Parallel

A rogue OpenAI agent hacked Australia’s government. Does this matter? | E2342

Best of Decision-Making: Annie Duke (2022)

Best of Decision-Making: Annie Duke (2018)
First Round Capital invests most often at Series A and Seed (63% of the rounds on record), in sectors such as Enterprise_software, AI and Infrastructure.
807 investments on record, 61 of them in the last 12 months, and it led 15. The most recent was in Oct 2026.
Its most recent investments on record: Serval (Series C, Oct 2026), Mach9 (Series A, Oct 2026) and Town (Series B, Oct 2026).
The median round it joins is $18M. It says it writes cheques of $1.0M to $7.0M.
Sometimes: it led 15 of its 807 investments on record (2%).
Most of the companies it backs are in the United States (97%).
Yes: it is actively investing, with 61 investments in the last 12 months.
Most often SV Angel (125 rounds together), BoxGroup (92 rounds together) and Y Combinator (70 rounds together).
Find the investors who back rounds like yours, and keep every conversation on one fundraising board.
Built from the rounds we watched, its filings and its own website, refreshed every night. How we count · Report a correction · Is this your firm? Claim it