First Round Capital
{{Verification|date=July 2022}}
{{short description|Venture capital firm}}
{{Infobox company
| name = First Round Capital
| logo = Image:logo-black.tiff
| foundation = {{start date and age |2004}}
| founder = Josh Kopelman
Howard L. Morgan
| location = San Francisco
| industry = Venture Capital
| assets =
| num_employees =
| homepage = {{website |http://www.firstround.com/}}
}}
First Round Capital is a US-based venture capital firm that specializes in providing seed-stage funding to technology companies.
Founded by Josh Kopelman[https://money.cnn.com/2007/10/09/technology/first_round_capital.fortune/ Well-Known Tech Investor Aims Higher, cnnmoney.com, September 7, 2007] and Howard Morgan{{cite news|url=https://www.fastcompany.com/1749047/want-know-how-first-round-capital-was-started|publisher=Fast Company|date=April 21, 2011|title="Want To Know How First Round Capital Was Started?"|author=Mark Suster}} First Round typically provides seed-stage funding and focuses on portfolio companies' growth during their first 18 months. It has offices in San Francisco, Philadelphia and New York.
Dorm Room Fund
In 2012 First Round Capital created the Dorm Room Fund, a $10 million{{cn|date=July 2024}} fund focused on investments in student-run startups.{{Cite web|url=https://techcrunch.com/2013/02/25/first-round-expands-500k-student-run-investment-arm-dorm-room-fund-to-new-york-city-universities/|title=First Round Expands $500K Student-Run Investment Arm, Dorm Room Fund, To New York City Universities – TechCrunch|website=techcrunch.com|language=en-US|access-date=2018-03-24}} In 2019, the firm launched the Graduate Fund, a pre-seed fund for recent graduates of undergraduate or master's programs.{{Cite web|url=https://techcrunch.com/2019/01/16/new-pre-seed-fund-powered-by-first-round-capital-will-target-recent-graduates/|title=New pre-seed fund powered by First Round Capital will target recent graduates|website=TechCrunch|date=17 January 2019 |language=en-US|access-date=2019-01-17}} The firm is operated by full-time undergraduate and graduate students.{{Cite news|url=https://www.forbes.com/sites/meghancasserly/2013/07/24/the-dorm-room-fund-a-conversation-with-first-round-capitals-phin-barnes/|title=The Dorm Room Fund: A Conversation With First Round Capital's Phin Barnes|last=Casserly|first=Meghan|work=Forbes|access-date=2018-03-25|language=en}}{{Cite book|title=The Business of Venture Capital|last=Ramsinghani|first=Mahendra|publisher=Wiley|year=2014|isbn=978-1-118-75219-7|location=|pages=192}} It has backed companies that have raised a combined $300 million in venture capital from investors including Y Combinator, Sequoia Capital, Andreessen Horowitz, and Union Square Ventures.{{Cite web|url=https://5years.dormroomfund.com/|title=DRF 5-Year Report|website=5years.dormroomfund.com|language=en|access-date=2018-03-26}} The firm has teams in San Francisco, New York City, Philadelphia, and Boston.
In addition to providing early-stage capital,{{Cite news|url=https://www.forbes.com/sites/alexkonrad/2016/04/27/college-funds-rise-up-house-fund-dorm-room-rough-draft/#5f3950a02b86|title=College-Specific Funds Are On The Rise – But Are They Built To Last?|last=Konrad|first=Alex|work=Forbes|access-date=2018-03-25|language=en}} Dorm Room Fund draws upon its own resources as well as First round's to support student entrepreneurs. In January 2018, Dorm Room Fund's Head of Engineering Yasyf Mohamedali launched VCWiz, a tool to help founders (student or otherwise) research, discover, and reach out to seed-stage investors.{{cite news |title=Dorm Room Fund has built a CRM for founders raising a seed round |url=https://techcrunch.com/2018/01/25/dorm-room-fund-has-built-a-crm-for-founders-raising-a-seed-round/|work=TechCrunch|access-date=2018-11-13}}
References
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{{Venture capital firms}}
{{Philadelphia Corporations |state=collapsed}}
Category:Venture capital firms of the United States
Category:Financial services companies established in 2004