First Round Capital logo

DIRECT INVESTMENT

First Round Capital

Direct Investment

Independent editorial profile; DNA Future is not affiliated with or endorsed by this institution unless expressly stated. A direct early-stage VC route rather than a student-specific fellowship or open accelerator.

Source checked · Contact onlyView official page ↗
WHAT IT ISDIRECT INVESTMENT
BEST FORVery early and first-time founders
CURRENT STATUSSource checked · Contact only
MAIN SUPPORTCompany-specific venture investment
FUNDING WARNINGThis is not student-specific and there is no universal online application or guaranteed response.
EVIDENCE GRADEA · Current first-party program or institution sources
ADMISSION GUARANTEENot assumed · Confirm the final offer and current official terms
SOURCEOfficial institution and program pages
01

THE INSTITUTION

What is First Round Capital?

First Round is an early-stage venture firm founded by Josh Kopelman.

It invests at the earliest institutional stages and publishes extensive company-building resources.

FOUNDED & WHY

Josh Kopelman founded First Round in 2004 to specialize in the first institutional stage of company formation and build an operating team around early founders.

PUBLIC SCALE

First Round says it has worked with more than 500 early teams. Its current average initial investment is about $3.5 million, with historical initial checks ranging from $100,000 to $20 million.

PORTFOLIO & TRACK RECORD

Representative companies include Uber, Square, Roblox, Notion, Verkada, Clay, Upstart and Looker. The firm emphasizes the partnership formed at the initial round.

LATEST OFFICIAL SIGNAL

In 2026 First Round continued its zero-equity PMF Method for early B2B founders and Angel Track for investors. Those programs are distinct from seeking a direct First Round investment.

Institution source ↗Latest official update ↗

02

THE PEOPLE

Who leads First Round Capital and this program?

There is no separate program lead because this entry is the firm’s normal investment process.

03

THE PROGRAM

What is Direct Investment?

Founders approach First Round for a selective company investment and long-term operating support.

Read the official program page

04

WHO IT IS FOR

Who should consider it?

  • Very early and first-time founders
  • Companies that fit an individual partner’s interests
  • Teams seeking a lead or meaningful early investor
05

SUPPORT

What do you get?

  • Company-specific venture investment
  • Recruiting, go-to-market and founder support
  • First Round founder community
Do not misread this

This is not student-specific and there is no universal online application or guaranteed response.

06

PUBLIC EVIDENCE

What does the public record show?

Representative companies include Uber, Square, Roblox, Notion, Verkada, Clay, Upstart and Looker. The firm emphasizes the partnership formed at the initial round.

How to read this evidence

Examples show institutional or program history. They do not predict admission, funding, ownership terms or outcomes for a new applicant.

07

APPLICATION

How do you apply?

  1. Identify the most relevant partner
  2. Use an introduction or appropriate contact route
  3. Complete partner meetings and diligence
  4. Negotiate company-specific terms

Open the current official application or status page

DNA Future research note. This is an independent editorial profile based on official sources. Program terms and availability can change; the institution’s current materials take precedence.

Last reviewed · 13 October 2026