Josh Kopelman

Verified

Founder & Partner at First Round CapitalPhiladelphia, United States

Pre-SeedSeedConsumerSaaSMarketplace

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Hot

Check Size

$500K — $5.0M

Activity Score

87/ 100

Reliability Score

🎯25% of deals in Consumer

📉Pace slowed from 2 to 1 deals (2021→2024)

💰Avg check: $34.1M

🏗️Primarily invests at Pre-Seed stage

Investment Thesis

Seed stage focus. Former founder of Half.com (acquired by eBay).

Investment Timeline

Relativity Space

$11.1M

Oct 2024

Celsius NetworkDead 2022

$150.0M

Nov 2021

Snowflake

$45.0M

Jul 2021

$39.7M

May 2020

Linear

$14.5M

Apr 2020

Anthropic

$1.4M

Dec 2019

AnkiDead 2019

$11.0M

Jul 2014

ShypDead 2018

$420K

Apr 2014

Portfolio Breakdown

By Sector

Consumer2 deals · 25%

Space1 deal · 13%

Web3 / Crypto1 deal · 13%

SaaS1 deal · 13%

Dev Tools1 deal · 13%

AI / ML1 deal · 13%

Marketplace1 deal · 13%

By Stage

Pre-Seed4 deals · 50%

Series B1 deal · 13%

Seed1 deal · 13%

Series C1 deal · 13%

Series A1 deal · 13%

8 tracked deals7 sectors · 5 stages

Deal Velocity

Avg Deals / Year

0.7

Avg Deal Size

$34.1M

Largest Deal

Celsius Network

$150.0M

YoY Trend

Accelerating

Deals Per Year

8 total deals tracked2014–2024

Investment Activity Map

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Less

Current Fund Status

Fund Name

First Round Capital Fund 2

Reported Size

$3.7M

Deploy Progress (Est.)

22% Deployed

Co-Investors

No co-investment data available yet.