Venture Capital

First Round Capital

First Round Capital is a seed-stage venture capital firm founded in 2004 by Josh Kopelman and Howard Morgan, headquartered in San Francisco with offices in New York and Philadelphia. First Round invests almost exclusively at the earliest stages of company creation, typically writing lead checks in the $750K to $4M range, and partners (many of them former founders) work side-by-side with companies through their first few years. The firm is a generalist that seeks contrarian insight into how markets work, with concentration in enterprise software, AI, fintech, healthcare, hardware, and consumer. Since founding it has backed 500+ startups and was the first institutional investor in Uber; its portfolio includes Notion, Roblox, Square, Looker, Upstart, Verkada, Warby Parker, Flatiron Health, and Clay. First Round also runs The Review, a widely read operator-focused editorial publication, and self-reports roughly $2.5B in assets under management.

25 portfolio companies 12 publish APIs here 11 properties
Venture CapitalSeedSeries ADeveloper ToolsEnterprise SoftwareArtificial IntelligenceFintechHealthcareConsumerNorth America

First Round Capital has 25 portfolio companies tracked on the APIs.io network, of which 12 (48%) publish APIs indexed here.

Its highest-rated API providers on the network are Fal, Notion, Square, Reducto, Looker.

Portfolio on the Network

Portfolio companies that publish APIs indexed on APIs.io, grouped by their API Evangelist rating. Exemplar and Strong are expanded by default.

Exemplar 1 Complete, well-documented, and agent-ready
Fal 9 APIs 70.8
Strong 4 Solid coverage with minor gaps
Notion 1 API 69.4 Square 1 API 65.6 Reducto 1 API 62.4 Looker 6 APIs 61.0
Developing 3 Usable, with meaningful gaps to close
Uber 7 APIs 57.0 Stedi 6 APIs 54.8 SingleStore 2 APIs 52.6
Thin 1 Limited public surface area
Roblox 8 APIs 31.7
Emerging 2 Early or largely undocumented
Flexport 1 API 27.7 Together AI 15 APIs 26.7
Minimal 1 Almost no public developer surface
Clay 1 API 14.0

Rest of Portfolio

13 further portfolio companies that don’t yet have a provider page on the network.

AppNexusClover HealthEvolutionIQFlatiron HealthK2 SpaceLoyalMintPomelo CareRilletRingUpstartVerkadaWarby Parker

Scroll for all 13

Properties

Portfolio

Where the firm publishes its investments

Portfolio
Portfolio
 Portfolio
Portfolio
 InvestmentThesis
InvestmentThesis

Team

Partners and investing staff

Team
Team
 Team
Team

Content

Blog, podcast, newsletter, and research

Blog
Blog

Firm

The firm itself

Website
Website
 Jobs
Jobs
 Crunchbase
Crunchbase
 LinkedIn
LinkedIn
 Twitter
Twitter

Source (apis.yml)

apis.yml Raw ↑ 
aid: first-round-capital
name: First Round Capital
description: >-
  First Round Capital is a seed-stage venture capital firm founded in 2004 by
  Josh Kopelman and Howard Morgan, headquartered in San Francisco with offices
  in New York and Philadelphia. First Round invests almost exclusively at the
  earliest stages of company creation, typically writing lead checks in the
  $750K to $4M range, and partners (many of them former founders) work
  side-by-side with companies through their first few years. The firm is a
  generalist that seeks contrarian insight into how markets work, with concentration
  in enterprise software, AI, fintech, healthcare, hardware, and consumer. Since
  founding it has backed 500+ startups and was the first institutional investor in
  Uber; its portfolio includes Notion, Roblox, Square, Looker, Upstart, Verkada,
  Warby Parker, Flatiron Health, and Clay. First Round also runs The Review, a
  widely read operator-focused editorial publication, and self-reports roughly
  $2.5B in assets under management.
x-type: venture-capital
x-category: Venture Capital
image: https://firstround.com/favicon.ico
tags:
  - Venture Capital
  - Seed
  - Series A
  - Developer Tools
  - Enterprise Software
  - Artificial Intelligence
  - Fintech
  - Healthcare
  - Consumer
  - North America
created: '2026-07-17'
modified: '2026-07-17'
specificationVersion: '0.20'
apis: []
common:
  - type: Website
    url: https://firstround.com/
  - type: Portfolio
    url: https://firstround.com/companies
  - type: Portfolio
    url: portfolio/first-round-capital-portfolio.yml
  - type: Team
    url: https://firstround.com/team
  - type: Team
    url: team/first-round-capital-team.yml
  - type: InvestmentThesis
    url: https://firstround.com/how-we-work
  - type: Blog
    url: https://review.firstround.com/
  - type: Jobs
    url: https://jobs.firstround.com/talent-network/login
  - type: Crunchbase
    url: https://www.crunchbase.com/organization/first-round-capital
  - type: LinkedIn
    url: https://www.linkedin.com/company/first-round-capital
  - type: Twitter
    url: https://x.com/firstround
  - type: Features
    data:
      - 'Stage: Seed (early-stage focus, occasional Series A)'
      - 'Typical check: $750K-$4M (lead)'
      - 'Sectors: enterprise software, AI, fintech, healthcare, hardware, consumer'
      - 'Geography: primarily North America'
      - 'AUM: ~$2.5B (self-reported / third-party sources)'
      - 'Founded: 2004'
      - 'Founders: Josh Kopelman, Howard Morgan'
      - 'HQ: San Francisco, CA (offices in New York and Philadelphia)'
      - 'Portfolio: 500+ startups backed since 2004'
    sources:
      - https://firstround.com/
      - https://firstround.com/how-we-work
      - https://en.wikipedia.org/wiki/First_Round_Capital
    updated: '2026-07-17'
maintainers:
  - FN: Kin Lane
    email: kin@apievangelist.com
    url: https://apievangelist.com
  - FN: APIs.json
    url: https://apisjson.org
  - FN: First Round Capital
    url: https://firstround.com/