First Round Capital

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
deliveryModel:
  model: unknown
  open_source: false
  commercial: false
  callable_host: false
  label: Delivery model not determined — needs a product licence on record
  confidence: low
  source:
  - none
  generated: '2026-08-28'
  method: derived
accessModel:
  pricing: unknown
  onboarding: unknown
  trial: false
  try_now: false
  public: false
  label: Unknown
  confidence: low
  source: []
  generated: '2026-07-22'
  method: derived
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: '0.23'
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/