What does First Round Capital do?

First Round Capital is a venture capital firm based in San Francisco, with additional offices in New York and Philadelphia. Founded in 2004 by Josh Kopelman and Howard Morgan, the firm specializes in seed-stage and pre-seed funding for technology companies. It has grown from a $10 million fund to managing multiple funds, including its latest Fund X, which aims for $500 million in capital. First Round Capital has invested in over 500 startups, focusing on supporting founders at the earliest stages of their ventures. In addition to providing capital, First Round Capital offers extensive operational guidance and resources to help startups grow. This includes hands-on support for early hiring, building a community of entrepreneurs, and educational programs like the Dorm Room Fund and Angel Track. The firm also publishes the First Round Review, which serves as a practical guide for company-building. Typical initial investments range from $500,000 to $1 million for pre-revenue companies, with check sizes generally between $1 million and $10 million for seed-stage deals.