# First Round Capital: portfolio, investments and team

> First Round Capital is a vc firm based in United States. 807 investments on record, 61 in the last 12 months, latest Oct 2026.

Source: https://millionrounds.com/fund/first-round-capital (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# First Round Capital

Last cheque observed Oct 2026; 807 cheques on record.

Email

Deploying now New fund $296M, Aug 2026 VC firm

Pre-seed Seed Series A Enterprise_software AI Infrastructure

Follow First Round Capital and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Ffirst-round-capital)

Deploying now

**92%** of best year **61** **cheques in 12 months**, 807 on record

Since the last cheque **1** days **00** hrs **00** min **00** sec

Median round **$18M** Cheque size, as they say **$1.0M – $7.0M** Rounds led **15 of 807** Sole investor **16 rounds** Exits **84 from the portfolio** Mostly in **United States, 97%**

Pitch First Round Capital

## First Round Capital highlights

- 01 61 cheques in the last 12 months
- 02 Mostly Series A and Seed: 63% of its rounds
- 03 Sole investor in 16 rounds, median $1.9M
- 04 84 exits from the portfolio

## What they do

> First Round is a venture capital firm that works with founders exclusively at the earliest stages of company building From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $1.0M – $7.0M as they say
- **Stages:** Pre-seed Seed Series A Series B Growth Pre-IPO
- **Sectors:** Enterprise_software AI Infrastructure
- **Based in:** San Francisco, United States
- **Cold pitches:** Accepted

## The record

Every round we can evidence, newest first **807 appearances**

- **2026** 55 rounds
- **Oct** **[Serval](https://millionrounds.com/company/serval)** Series C · US · Google News search **$150M** With 8 others
- **Oct** **[Mach9](https://millionrounds.com/company/mach9)** Series A · US · Wowtale **$34M** *Led*
- **Oct** **[Town](https://millionrounds.com/company/town)** Series B · US · Menlo Ventures **$108M** With 15 others
- **Oct** **[Brellium](https://millionrounds.com/company/brellium)** Series A · US · TechStartups **$23M** *Led*
- **Oct** **[Flai](https://millionrounds.com/company/flai)** Series A · US · LatamList **$27M** With 5 others
- **Oct** **[Healthleap](https://millionrounds.com/company/healthleap)** Series A · ZA · Firms' own news pages **$38M** *Led*
- **Sept** **[Quartermaster](https://millionrounds.com/company/quartermaster)** Series B · US · Tech Funding News **$140M** With 8 others
- **Sept** **[Aranya](https://millionrounds.com/company/aranya)** Seed · US **$9.0M** With 2 others
- **Aug** **[Candid Health](https://millionrounds.com/company/candid-health)** Series D · US · Firms' own news pages **$120M** With 5 others
- **Aug** **[Gritt](https://millionrounds.com/company/gritt)** Series A · US · Ventureburn **$26M** With 6 others
- **Aug** **[Genera](https://millionrounds.com/company/genera)** Seed · US **$10M** With 2 others
- **Aug** **[Solva](https://millionrounds.com/company/solva)** Seed · US **$6.0M** With 2 others
- **Jul** **[Ellis AI](https://millionrounds.com/company/ellis-ai)** Seed · US · TechCrunch **$10M** With 7 others
- **Jul** **[Gauntlet](https://millionrounds.com/company/gauntlet)** Series C · US · AlleyWatch **$125M** With 6 others
- **Jul** **[Andrenam](https://millionrounds.com/company/andrenam)** Series A · US **$18M** With 2 others
- **Jul** **[Boulder Care](https://millionrounds.com/company/boulder-care)** Grant · US **$1.8M** With 4 others
- **Jul** **[Corner Health](https://millionrounds.com/company/corner-health)** Series A · US **$25M** With 1 other
- **Jul** **[Healia Health](https://millionrounds.com/company/healia-health)** Series A · US **$14M** With 3 others
- **Jun** **[Proception](https://millionrounds.com/company/proception)** Seed · US · TechCrunch **$11M** *Led*
- **Jun** **[Assort Health](https://millionrounds.com/company/assort-health)** Series C · US · Menlo Ventures **$120M** With 7 others
- **Jun** **[Endurance Energy](https://millionrounds.com/company/endurance-energy)** Series A · US · TechCrunch **$54M** With 7 others
- **Jun** **[Collate](https://millionrounds.com/company/collate)** Series A · US · Ventureburn **$95M** With 3 others
- **Jun** **[Scotch](https://millionrounds.com/company/scotch)** Series A · US · Crunchbase News **$20M** With 3 others
- **Jun** **[Board](https://millionrounds.com/company/board)** Series A · US · TechCrunch **$20M** With 6 others
- **Jun** **[Proception](https://millionrounds.com/company/proception)** Seed · US **$500K** With 2 others
- **Jun** **[Ploy](https://millionrounds.com/company/ploy)** Venture · US **Undisclosed** With 1 other
- **Jun** **[Town](https://millionrounds.com/company/town)** Series A · US **$60M** With 4 others
- **May** **[Quartermaster](https://millionrounds.com/company/quartermaster)** Series A · US · TechCrunch **$43M** *Led*
- **May** **[Eisen](https://millionrounds.com/company/eisen)** Series A · US · Ventureburn **$10M** With 4 others
- **May** **[Binti](https://millionrounds.com/company/binti)** Venture · US **$6.0M** With 4 others
- **Apr** **[Parallel Web Systems](https://millionrounds.com/company/parallel-web-systems)** Series B · US · Google News search **$100M** With 7 others
- **Apr** **[Actively](https://millionrounds.com/company/actively)** Series B · US · TechStartups **$45M** With 4 others
- **Apr** **[Manifest OS](https://millionrounds.com/company/manifest-os)** Series A · US · TechStartups **$60M** With 3 others
- **Apr** **[Omni](https://millionrounds.com/company/omni)** Series C · US · Ventureburn **$120M** With 6 others
- **Apr** **[Artemis](https://millionrounds.com/company/artemis)** Series A · US · Ventureburn **$70M** With 10 others
- **Apr** **[Noon](https://millionrounds.com/company/noon)** Seed · Ventureburn **$44M** With 4 others
- **Apr** **[daydream Labs](https://millionrounds.com/company/daydream-labs)** Series A · US **$15M** With 4 others
- **Apr** **[Merlin Labs](https://millionrounds.com/company/merlin-labs)** US **$80M** With 4 others
- **Apr** **[Upstart](https://millionrounds.com/company/upstart)** Debt · US **$1.5B** With 4 others
- **Apr** **[Ossium Health](https://millionrounds.com/company/ossium-health)** Venture · US **$15K** With 4 others

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 registration **16 named**

AC **Asonye Chukwuemeka** Executive Officer i Filing they signed

BB **Brett Berson** Executive Officer i Filing they signed

CF **Chris Fralic** Executive Officer i Filing they signed

CF **Christopher Fralic** Executive Officer i Filing they signed

CA **Chukwuemeka Asonye** Executive Officer i Filing they signed

CC **Cristina Cordova** Executive Officer i Filing they signed

EW **Elizabeth Wessel** Executive Officer i Filing they signed

HB **Hayley Barna** Executive Officer i Filing they signed

HM **Howard Morgan** Executive Officer i Filing they signed

JK **Josh Kopelman** Executive Officer i Filing they signed

JK **Joshua Kopelman** Executive Officer i Filing they signed

PB **Phineas Barnes** Executive Officer i Filing they signed

RH **Rob Hayes** Executive Officer i Filing they signed

RH **Robert Hayes** Executive Officer i Filing they signed

TJ **Todd Jackson** Executive Officer i Filing they signed

WJ **William J Trenchard** Executive Officer i Filing they signed

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.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**8+** funds on file numbered funds in its name

## Exits from the portfolio

Companies it backed that were later bought or listed **84 in all**

**[Squad](https://millionrounds.com/company/squad)** Bought by [Twitter](https://millionrounds.com/fund/twitter) **Undisclosed** Dec 2020

**[Looker](https://millionrounds.com/company/looker)** Bought by [Google](https://millionrounds.com/fund/google-assistant-investments) **Undisclosed** Jun 2019

**[Eero](https://millionrounds.com/company/eero)** Bought by [Amazon](https://millionrounds.com/fund/amazon) **$97M** Feb 2019

**[Ring](https://millionrounds.com/company/ring)** Bought by [Amazon](https://millionrounds.com/fund/amazon) **$839M** Feb 2018

**[LinkedIn](https://millionrounds.com/company/linkedin)** Bought by [Microsoft](https://millionrounds.com/fund/microsoft) **$26B** Dec 2016

**[LiveOps](https://millionrounds.com/company/liveops)** Bought by [Marlin Equity Partners](https://millionrounds.com/fund/marlin-equity-partners) **Undisclosed** Dec 2015

**[Fountain](https://millionrounds.com/company/fountain)** Bought by Porch **Undisclosed** Oct 2015

**[Leo](https://millionrounds.com/company/leo)** Bought by [Lyft](https://millionrounds.com/fund/lyft) **Undisclosed** Jun 2015

**[Path](https://millionrounds.com/company/path)** Bought by [Daum Kakao](https://millionrounds.com/fund/daum-kakao) **Undisclosed** May 2015

**[Get Satisfaction](https://millionrounds.com/company/get-satisfaction)** Bought by Sprinklr **Undisclosed** Apr 2015

**[Fab](https://millionrounds.com/company/fab)** Bought by [PCH International](https://millionrounds.com/fund/pch-international) **$15M** Mar 2015

**[Backupify](https://millionrounds.com/company/backupify)** Bought by Datto **Undisclosed** Dec 2014

**[Readyforce](https://millionrounds.com/company/readyforce)** Bought by LookSharp (powering InternMatch) **Undisclosed** Dec 2014

**[Nomi](https://millionrounds.com/company/nomi)** Bought by Brickstream **Undisclosed** Oct 2014

**[MessageMe](https://millionrounds.com/company/messageme)** Bought by [Yahoo!](https://millionrounds.com/fund/yahoo) **$30M** Oct 2014

**[Gnip](https://millionrounds.com/company/gnip)** Bought by [Twitter](https://millionrounds.com/fund/twitter) **$134M** Aug 2014

**[KidZui](https://millionrounds.com/company/kidzui)** Bought by LeapFrog **Undisclosed** Aug 2014

**[Plastic Jungle](https://millionrounds.com/company/plastic-jungle)** Bought by CardCash.com **Undisclosed** Jul 2014

**[Flurry](https://millionrounds.com/company/flurry)** Bought by [Yahoo!](https://millionrounds.com/fund/yahoo) **$200M** Jul 2014

**[SmartThings](https://millionrounds.com/company/smartthings)** Bought by [Samsung Electronics](https://millionrounds.com/fund/samsung-electronics) **$200M** Jul 2014

The latest 20 here. An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$296M**

raised in Aug 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Pre-seed Seed Series A

Median round joined **$18M** the round, not its cheque Alone, median **$1.9M**

Led 15 of 807 rounds **2%**

- **Said size:** $1.0M – $7.0M
- **Sole investor:** 16 rounds
- **Last cheque:** Oct 2026
- **Exits:** 84 from the portfolio

Rounds by stage said on their site

- Series A said *263*
- Seed said *224*
- Series B said *124*
- Venture *75*
- Series C *66*
- Series D *21*
- Pre-seed said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [SV Angel](https://millionrounds.com/fund/sv-angel) 125
- [BoxGroup](https://millionrounds.com/fund/boxgroup) 92
- [Y Combinator](https://millionrounds.com/fund/y-combinator) 70
- [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) 59
- [Felicis](https://millionrounds.com/fund/felicis-ventures) 47
- [Khosla Ventures](https://millionrounds.com/fund/khosla-ventures) 36

**Pitching First Round Capital?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

Add to your CRM *→*

## Who they invest alongside

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.

[**SV Angel** VC firm **125** rounds together](https://millionrounds.com/fund/sv-angel)[**BoxGroup** VC firm **92** rounds together](https://millionrounds.com/fund/boxgroup)[**Y Combinator** Accelerator **70** rounds together](https://millionrounds.com/fund/y-combinator)[**Andreessen Horowitz** VC firm **59** rounds together](https://millionrounds.com/fund/andreessen-horowitz)[**Felicis** VC firm **47** rounds together](https://millionrounds.com/fund/felicis-ventures)[**Khosla Ventures** VC firm **36** rounds together](https://millionrounds.com/fund/khosla-ventures)[**Shasta Ventures** VC firm **36** rounds together](https://millionrounds.com/fund/shasta-ventures)[**Google Ventures** Corporate VC **35** rounds together](https://millionrounds.com/fund/gv)[**Accel** VC firm **33** rounds together](https://millionrounds.com/fund/accel)[**Floodgate** VC firm **33** rounds together](https://millionrounds.com/fund/floodgate)[**Founders Fund** VC firm **29** rounds together](https://millionrounds.com/fund/founders-fund)[**Index Ventures** VC firm **28** rounds together](https://millionrounds.com/fund/index-ventures)

## Recently backed

The latest companies First Round Capital put money into.

[**Serval** $150M · Oct 2026](https://millionrounds.com/company/serval)[**Mach9** $34M · Oct 2026](https://millionrounds.com/company/mach9)[**Town** $108M · Oct 2026](https://millionrounds.com/company/town)[**Brellium** $23M · Oct 2026](https://millionrounds.com/company/brellium)[**Flai** $27M · Oct 2026](https://millionrounds.com/company/flai)[**Healthleap** $38M · Oct 2026](https://millionrounds.com/company/healthleap)

## On podcasts

6 episodes naming First Round Capital in the title, and 4 more that mention it.

- [Uncapped](https://millionrounds.com/podcasts/uncapped) 1 May 2025 · 59 min Uncapped #8 | Josh Kopelman from First Round Capital With [Josh Kopelman](https://millionrounds.com/person/josh-kopelman-first-round-capital) Mentions [First Round Capital](https://millionrounds.com/fund/first-round-capital) Apple PodcastsShow page
- [The Full Ratchet](https://millionrounds.com/podcasts/full-ratchet) 27 Jun 2022 · 48 min 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) Mentions [First Round Capital](https://millionrounds.com/fund/first-round-capital)[Howard Morgan](https://millionrounds.com/fund/howard-morgan-mfcif)[B Capital](https://millionrounds.com/fund/b-capital) Apple PodcastsShow page
- [Capital Allocators](https://millionrounds.com/podcasts/capital-allocators) 9 Dec 2021 · 54 min Bill Trenchard - First Round Capital (Manager Meetings, EP.23) With [Bill Trenchard](https://millionrounds.com/person/bill-trenchard) Mentions [First Round Capital](https://millionrounds.com/fund/first-round-capital) Apple PodcastsShow page
- [Origins: Inside Venture Capital](https://millionrounds.com/podcasts/origins-openlp) 7 Jul 2020 · 41 min Josh Kopelman, First Round Capital With [Josh Kopelman](https://millionrounds.com/person/josh-kopelman-first-round-capital) Mentions [First Round Capital](https://millionrounds.com/fund/first-round-capital) Apple PodcastsShow page
- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 4 Feb 2020 · 39 min Breaking News: Meet First Round Capital's Newest Partner, How To Approach Generational Transition as a Venture Firm & The Dangers of Attribution In Venture Mentions [First Round Capital](https://millionrounds.com/fund/first-round-capital)[Google](https://millionrounds.com/fund/google-assistant-investments)[Phin Barnes](https://millionrounds.com/person/phin-barnes) *+1* Apple PodcastsShow page
- [Village Global Podcast](https://millionrounds.com/podcasts/village-global) 14 Jan 2020 · 1h 16m Brett Berson and Phin Barnes on Lessons Learned From Over a Decade at First Round Capital With [Brett Berson](https://millionrounds.com/person/brett-berson)[Phin Barnes](https://millionrounds.com/person/phin-barnes) Mentions [First Round Capital](https://millionrounds.com/fund/first-round-capital)[Brett Bolkowy](https://millionrounds.com/person/brett-bolkowy)[Grace Chen](https://millionrounds.com/person/grace-chen) Apple PodcastsShow page

### Mentioned in

- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 26 Sept 2026 · 57 min 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 Apple PodcastsShow page
- [This Week in Startups](https://millionrounds.com/podcasts/this-week-in-startups) 25 Sept 2026 · 1h 26m A rogue OpenAI agent hacked Australia’s government. Does this matter? | E2342 Apple Podcasts
- [Capital Allocators](https://millionrounds.com/podcasts/capital-allocators) 3 Aug 2026 · 1h 18m Best of Decision-Making: Annie Duke (2022) Apple PodcastsShow page
- [Capital Allocators](https://millionrounds.com/podcasts/capital-allocators) 3 Aug 2026 · 60 min Best of Decision-Making: Annie Duke (2018) Apple PodcastsShow page

## Quick answers about First Round Capital

### 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.

### How active is First Round Capital?

807 investments on record, 61 of them in the last 12 months, and it led 15. The most recent was in Oct 2026.

### What has First Round Capital invested in recently?

Its most recent investments on record: Serval (Series C, Oct 2026), Mach9 (Series A, Oct 2026) and Town (Series B, Oct 2026).

### How big are First Round Capital's cheques?

The median round it joins is $18M. It says it writes cheques of $1.0M to $7.0M.

### Does First Round Capital lead rounds?

Sometimes: it led 15 of its 807 investments on record (2%).

### Where does First Round Capital invest?

Most of the companies it backs are in the United States (97%).

### Is First Round Capital investing now?

Yes: it is actively investing, with 61 investments in the last 12 months.

### Who does First Round Capital invest alongside?

Most often SV Angel (125 rounds together), BoxGroup (92 rounds together) and Y Combinator (70 rounds together).

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