The more things change, the more they stay the same.
Today I’m happy to announce that we have successfully closed on our new fund (First Round Capital IV) – but we’ve chosen to keep our fund the same size as our last fund.
And we are thrilled that our investor base remains the same. Every single one of our existing institutional Limited Partners has recommitted to our new fund – and we are honored and thankful for their continued support.
First Round Capital’s investment focus and strategy remains the same. All we focus on is seed-stage. We believe that the first 18-24 months of a company’s life are a special time – where the DNA of a company gets established. And seed-stage is the only place we play. It’s what we know. It’s what we love.
We will continue to invest in services, products and events (like last week’s Advertising Summit) – building a platform that (we hope) makes it easier for entrepreneurs to start successful companies. Our investment team, platform team and finance team is also staying the same. I love the fact that I get to work with amazing people – who share my passion and excitement about working with amazing entrepreneurs.
And I’m super-excited to announce that Kent Goldman and Phin Barnes will become new Partners in our next fund. Both of them have done an incredible job for us and our founders. They’ve helped us expand our footprint in New York and San Francisco, introducing First Round to many talented entrepreneurs and supporting our portfolio CEOs as board members and trusted advisors. Each has played a meaningful role in our progress to date – and we are beyond thrilled to match their titles with the reality of their contributions. We welcome them into the partnership…and look forward to seeing them sing and dance in next year’s holiday video!