At a glance
First Round Capital appears in 6 funding rounds tracked by ValueAddVC since 2025, leading 1. Its most frequent sectors in these rounds are Enterprise Software and Health & Biotech, and its most recent tracked deal was Healthleap's $38M round (Oct 7, 2026). It co-invests most often with Sequoia Capital. ValueAddVC also tracks 8 funds managed by First Round Capital.
Strategy
Stages
Pre-SeedSeed
Sectors
EnterpriseAIHardwareHealthcareFintechConsumer
Geographies
USASan Francisco, California, USA
Check size
$100K–$20MOpen Roles
1Recent changes
- Oct 7, 2026Oct 7, 2026Invested in Healthleap (Seed + Series A, $38M) TechCrunch
- Oct 7, 2026Oct 7, 2026Follow-on: Invested in Healthleap (Series A, $38M) TechCrunch
- Oct 6, 2026Oct 6, 2026Invested in Flai (Series A, $27M) The SaaS News
- Sep 28, 2026Sep 28, 2026Invested in Quartermaster (Series B, $100M) TechCrunch
- Sep 5, 2026Sep 5, 2026Sectors updated: Enterprise, AI, Hardware, Healthcare, Fintech, Consumer firstround.com
Earlier changes (11)
- Sep 5, 2026Sep 5, 2026Stages updated: Pre-Seed, Seed firstround.com
- Sep 5, 2026Sep 5, 2026Check size updated: $100K–$20M firstround.com
- Jul 31, 2026Jul 31, 2026Invested in Ellis (Seed, $10M) TechCrunch
- Oct 9, 2025Oct 9, 2025New fund: First Round Capital Fund X (target $16M) SEC EDGAR Form D
- May 29, 2025May 29, 2025Invested in Rillet (Series A, $25M) FinTech Futures
- May 11, 2022May 11, 2022New fund: First Round Capital Fund IX (target $16M) SEC EDGAR Form D
- Oct 13, 2020Oct 13, 2020New fund: First Round Capital Fund VIII (target $300M) SEC EDGAR Form D
- Oct 18, 2018Oct 18, 2018New fund: First Round Capital Fund VII (target $209M) SEC EDGAR Form D
- Sep 9, 2016Sep 9, 2016New fund: First Round Capital Fund VI ($174.95M) SEC EDGAR Form D
- Jan 1, 2014Jan 1, 2014New fund: First Round Capital Fund V ($175M) Value Add VC funds tracker
- Jan 1, 2012Jan 1, 2012New fund: First Round Capital Fund IV ($135M) Value Add VC funds tracker
Funds
8| Fund | Vintage | Size | Strategy | Source |
|---|---|---|---|---|
| First Round Capital Fund X | 2025 | target $16M | Flagship | As of Oct 9, 2025SEC EDGAR Form D |
| First Round Capital Fund IX | 2022 | target $16M | Flagship | As of May 11, 2022SEC EDGAR Form D |
| First Round Capital Fund VIII | 2020 | target $300M | Flagship | As of Sep 29, 2021SEC EDGAR Form D |
| First Round Capital Fund VII | 2018 | target $209M | Flagship | As of Oct 18, 2018SEC EDGAR Form D |
| First Round Capital Fund VI | 2016 | $174.95M | Flagship | As of Sep 9, 2016SEC EDGAR Form D |
Show 3 earlier funds
| Fund | Vintage | Size | Strategy | Source |
|---|---|---|---|---|
| First Round Capital VI Partners Fund | 2016 | $5.55M | Side vehicleSide vehicle (parallel, feeder, affiliate or SPV) — not the flagship close | As of Sep 9, 2016SEC EDGAR Form D |
| First Round Capital Fund V | 2014 | $175M | Flagship | As of 2014Value Add VC funds tracker |
| First Round Capital Fund IV | 2012 | $135M | Flagship | As of 2012Value Add VC funds tracker |
Portfolio
7 totalRecent Investment Activity
6Track record: led 1 and participated in 5 of 6 tracked venture rounds · 5 in the last 12 months · led 1 Seed + Series A
| Date | Company | Event | Role | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|---|---|
| Oct 7, 2026 | Healthleap | Seed + Series A | Led | $38M | — | TechCrunch | |
| Oct 7, 2026 | Healthleap | Series A | Participated | $38M | — | Sequoia CapitalLeadunverifiedFirst Round Capitalunverified | Pulse story |
| Oct 6, 2026 | Flai | Series A | Participated | $27M | — | Base10 PartnersLeadunverifiedToyota VenturesunverifiedFirst Round CapitalunverifiedY CombinatorunverifiedThe Friedkin GroupFindlay Automotive Group | The SaaS News |
| Sep 28, 2026 | Quartermaster | Series B | Participated | $100M | — | Insight PartnersLeadunverifiedOvermatch VenturesLeadunverifiedFirst Round CapitalTechCrunch · unverifiedStifel | Pulse story |
| Jul 31, 2026 | Ellis | Seed | Participated | $10M | — | TechCrunch | |
| May 29, 2025 | Rillet | Series A | Participated | $25M | — | FinTech Futures |
Sector / Stage Activity
By sector (portfolio)
Enterprise SaaS
2 · 29%
Biotech
1 · 14%
Fintech
1 · 14%
Crypto
1 · 14%
Healthcare
1 · 14%
Defense
1 · 14%
By stage (tracked rounds)
Series A
3 · 50%
Seed + Series A
1 · 17%
Series B
1 · 17%
Seed
1 · 17%
Co-Investors
12Sequoia Capital · 2 shared645 Ventures · 1 sharedAndreessen Horowitz · 1 sharedBase10 Partners · 1 sharedCapital A Partners · 1 sharedChemistry VC · 1 sharedChemistry Ventures · 1 sharedCoinbase · 1 sharedKearny Jackson · 1 sharedPolychain Capital · 1 sharedSBI Holdings · 1 sharedTau Ventures · 1 shared
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Latest Pulse
- Oct 7, 2026Healthleap Raises $38M to Catch Hospital Patients Doctors MissHealthleap raised $38 million combined seed and Series A funding for AI that flags hospital patients doctors may be missing, now live in 50-plus hospitals.→
- Oct 6, 2026Flai Raises $27M Series A For Dealership AI AgentsFlai raised a $27 million Series A led by Base10 Partners to expand its AI-native CRM for auto dealerships, which the company says has grown more than 20x in the past year.→
- Jul 31, 2026Cadre Founder Raises $10M Seed for Private Credit AIRyan Williams, co-founder of real estate platform Cadre, emerged from stealth with $10 million in seed funding for Ellis, an AI-native platform aimed at fixing private credit managers' fragmented data workflows.→
- Jul 30, 2026Assured Raises $19M to Automate Healthcare OpsAssured raised $19 million in Series A funding led by Insight Partners to build AI agents that automate healthcare provider back-office operations, with First Round Capital and Kindred Ventures also returning.→
- Jul 15, 2026Kevin Ryan's AlleyCorp Raises New $335M FundAlleyCorp, Kevin Ryan's NYC venture studio, closed a new $335 million fund to keep writing early-stage checks even as capital keeps concentrating in a handful of mega-managers.→
- Jun 26, 2026General Intuition Raises $320M Series A at $2.3B to Build AI Models From GameplayGeneral Intuition, a foundational AI model developer that trains systems on gameplay data, raised a $320 million Series A led by Khosla Ventures at a $2.3 billion valuation. The outsized first round bets that video games -- with their rich, interactive, physics-grounded environments -- are an underexploited training substrate for building AI with spatial reasoning and agency.→
First Round Capital FAQ
What is First Round Capital's latest fund?
First Round Capital Fund VI, closed at $174.95M (As of Sep 9, 2016; SEC EDGAR Form D).
How large are First Round Capital's funds?
First Round Capital funds Value Add tracks include First Round Capital Fund VI ($174.95M, 2016); First Round Capital Fund V ($175M, 2014); First Round Capital Fund IV ($135M, 2012), out of 8 First Round Capital funds tracked in total.
What companies has First Round Capital invested in?
First Round Capital's portfolio includes Healthleap, Flai, Quartermaster, Rillet, Ellis, Gauntlet, and 1 more tracked companies.
Who does First Round Capital co-invest with most?
In the rounds Value Add tracks, First Round Capital most often invests alongside Sequoia Capital (2 shared deals), 645 Ventures (1 shared deal), Andreessen Horowitz (1 shared deal), Base10 Partners (1 shared deal), Capital A Partners (1 shared deal).
Sources & methodologyshow
Where these figures come from
- SEC EDGAR Form Dprimary source1 fact
- SEC EDGAR Form Dprimary source1 fact
- SEC EDGAR Form Dprimary source1 fact
- SEC EDGAR Form Dprimary source1 fact
- SEC EDGAR Form Dprimary source1 fact
- SEC EDGAR Form Dprimary source1 fact
- TechCrunchmajor outlet2 facts
- TechCrunchmajor outlet1 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.