Its latest fund is First In Fund III ($148M, 2026, per VCWire). Value Add VC tracks 3 companies First In has invested in and 3 venture rounds it took part in (2 as lead).
First In key facts (as of )
| Fact | Value | Source |
|---|---|---|
| Type | Venture capital firm | Value Add VC classification |
| Funds tracked | 1 Latest: First In Fund III ($148M, 2026) | VCWire, March 9, 2026 |
| Venture rounds tracked | 3 (led 2, joined 1) 3 in the last 12 months | Recent deals table on this page (each round cites its source) |
| Portfolio companies tracked | 3 | Portfolio list on this page |
Recent deals we track
3Track record: led 2 and participated in 1 of 3 tracked venture rounds · 3 in the last 12 months · led 1 Series A, 1 Series B
| Date | Company | Event | Role | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|---|---|
| Oct 10, 2026 | Fortastra | Series A | Led | $30M | — | First InLeadunverifiedUpfront VenturesunverifiedATX VenturesunverifiedSpace CapitalRsquaredSide Door Ventures | Pulse 2.0 |
| Aug 17, 2026 | Smack Technologies | Series B | Led | $61M | — | Costanoa VenturesLeadunverifiedFirst InLeadunverifiedPoint72 VenturesunverifiedGeodesic CapitalunverifiedFelicis VenturesunverifiedSapphire VenturesunverifiedScribble VenturesunverifiedFortitude VenturesunverifiedBloomberg BetaunverifiedNomi CapitalPalumni VC | Pulse story |
| Dec 5, 2025 | Castelion | Series B | Participated | $350M | — | Castelion |
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At a glance
First In appears in 3 funding rounds tracked by ValueAddVC since 2025, leading 2. Its most frequent sector in these rounds is Defense & Space, and its most recent tracked deal was Fortastra's $30M Series A round (Oct 10, 2026). ValueAddVC also tracks 1 fund managed by First In.
Strategy
Funds
1| Fund | Vintage | Size | Strategy | Source |
|---|---|---|---|---|
| First In Fund III | 2026 | $148M | OtherCritical technology / SBIC · Early-stage | As of Mar 9, 2026VCWire |
Portfolio
3 totalSector / Stage Activity
Co-Investors
12Latest Pulse
- Oct 10, 2026Fortastra Raises $30M For Maneuverable Defense SatellitesFortastra raised a $30 million Series A led by First In to expand production of maneuverable spacecraft designed for on-orbit security and national defense.→
- Aug 19, 2026OpenAI Blinks First in AI Safety Standoff With AnthropicOpenAI told Axios it is slowing the release of its Astra model over cybersecurity risk and Sam Altman flagged signs of "misalignment," while Anthropic says its own safeguards mean no pause is needed -- a public role reversal between the two labs as both prepare for expected IPOs.→
- Aug 17, 2026Smack Technologies Raises $61M for Battlefield AISmack Technologies raised a $61 million Series B led by Costanoa Ventures and First In, bringing total funding past $90 million, months after the Pentagon labeled Anthropic a "supply-chain risk" and sent military branches scrambling for alternative AI vendors.→
- Aug 3, 2026Sequoia Leads $1B Round for Nuclear Startup ValarValar Atomics closed a $1B Series B led by Sequoia at a $6B valuation, tripling its April mark, weeks after its microreactor became the first in US history to power an Nvidia AI chip.→
- Jun 24, 2026OpenAI Unveils 'Jalapeño,' Its First Custom AI Chip, Built With Broadcom for Inference at ScaleOpenAI revealed Jalapeño, its first in-house silicon -- a chip designed with Broadcom and purpose-built for running AI models (inference) rather than training them. OpenAI says early results show 'significantly better performance-per-watt' than current state-of-the-art alternatives, marking its most concrete step yet to reduce a near-total dependence on Nvidia GPUs.→
First In FAQ
How big is First In's latest fund?
First In's latest fund, First In Fund III (2026), closed at $148M, according to VCWire (March 9, 2026).
What stage does First In invest at?
In the rounds Value Add VC tracks, First In's deals were most often Series B (2) and Series A (1); it led 1 Series A and 1 Series B.
What companies has First In backed?
Companies Value Add VC tracks as First In investments include Fortastra, Castelion and Smack Technologies.
Who does First In co-invest with most?
In the rounds Value Add tracks, First In most often invests alongside Altimeter Capital (1 shared deal), Andreessen Horowitz (1 shared deal), Avenir Growth Capital (1 shared deal), Bloomberg Beta (1 shared deal), BlueYard Capital (1 shared deal).
Sources & methodologyshow
- Castelionprimary source1 fact
- Yahoo Financeresearch database1 fact
- Pulse 2.0Value Add VC data1 fact
- VCWireValue Add VC data1 fact
Figures are labelled Reported (a source states it), Estimated, Derived (computed from other facts) or Rumored (in talks / unconfirmed). Rumors never replace a confirmed figure. Each figure keeps its own as-of date; history is preserved rather than overwritten.