First Round Capital is a leading seed-stage venture capital firm founded in 2004 and based in San Francisco, with additional offices in New York, Philadelphia, and international locations. The firm invests at the earliest stages—pre-seed, seed, and occasionally Series A—priding itself on being a founder’s first institutional partner and providing hands-on support in areas such as hiring, product development, go-to-market strategy, and community building.
The firm has raised multiple flagship funds, including a $500 million Fund IX in 2022 and a $500 million Fund X in 2025, and has backed notable companies such as Uber, Square, Roblox, Notion, Verkada, and Ring. First Round offers value-add programs including the First Round Network, Founder Forums, First Round Review, Pitch Assist, and Discovery Assist, designed to accelerate early-stage company building and founder success.
First Round Capital - Portfolio Snapshot
Portfolio activity breakdown across disclosed investments and stages
Total Investments436
Current Portfolio Count198
Total Portfolio Exits23
Top Investment Stages
Seed158 (38.0%)
Series A152 (36.5%)
Series B66 (15.9%)
Series C28 (6.7%)
Series Unknown12 (2.9%)
Stage Mix
Seed 38%Series A 37%Series B 16%Series C 7%Series Unknown 3%
Concentration shown as share of disclosed investments by stage.
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First Round Capital - Classification
- Also Known As
- First Round Capital X, L.P.
- Geographic Exposure
- Americas United States
- NAICS
- 520000Finance and Insurance
- 523000Securities, Commodity Contracts, and Other Financial Investments and Related Activities
- 523900Other Financial Investment Activities
- 523990All Other Financial Investment Activities
- 523999Miscellaneous Financial Investment Activities
- SIC
- 6700Holding And Other Investment Offices
- 6790Miscellaneous Investing
- 6799Investors, Not Elsewhere Classified
Show 20 more industry codes
- NAICS
- 320000Manufacturing
- 322000Paper Manufacturing
- 322200Converted Paper Product Manufacturing
- 322220Paper Bag and Coated and Treated Paper Manufacturing
- 522200Nondepository Credit Intermediation
- 522290Other Nondepository Credit Intermediation
- 522299International, Secondary Market, and All Other Nondepository Credit Intermediation
- 522000Credit Intermediation and Related Activities
- 525000Funds, Trusts, and Other Financial Vehicles
- 523910Miscellaneous Intermediation
- 523940Portfolio Management and Investment Advice
- SIC
- 2600Paper and allied products
- 2670Converted Paper And Paperboard Products, Except Containers And Boxes
- 2671Packaging Paper and Plastics Film, Coated and Laminated
- 6100Nondepository Credit Institutions
- 6150Business Credit Institutions
- 6153Short-term Business Credit Institutions, Except Agricultural
- 6000Depository Institutions
- 6720Investment Offices
- 6722Management Investment Offices, Open-end