DFX Intelligence
Venture Capital Intelligence
Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.
Firms / FR Capital Holdings, LP
FR Capital Holdings, LP
First Round is a venture capital firm that works with founders exclusively at the earliest stages of company building, often when all they have is an “imagine if.”
name or self-description says angel
Importance
51
elevated
Active deployment
55
elevated
Emerging
0
low
Completeness
75
high
Freshness
100
high
Research priority
20
moderate
Identity and regulatory footprint
- Headquarters
- Philadelphia, PAadviserinfo.sec.gov
- Office address
- 2400 MARKET ST, SUITE 237, Philadelphia, PA, 19103adviserinfo.sec.gov
- Business phone
- 610-834-1461adviserinfo.sec.gov
- Website
- HTTP://FIRSTROUND.COM
- SEC adviser type
- exempt reporting adviseradviserinfo.sec.gov
- SEC exemption claimed
- venture capital fund adviseradviserinfo.sec.govItem 2.B(1): advises solely venture capital funds
- Latest Form ADV
- Mar 31, 2026
- Private funds reported
- 22 (22 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $3.8Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Owners on Schedule A
- FR Capital Holdings LLC (General Partner), NA
- business phone
- 610-834-1461adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
11 observed deals
Stated (the firm’s website)
- Sectors
- ai, enterprise software, fintech, healthcare, consumer, hardware, space, gaming, media
- Stages
- pre seed, seed, early
- Geography
- new york, philadelphia
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- angel
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors
unknown 82%Other Technology 18%
lead rate n/afollow-on rate n/anew logos, 12 months 11
Funds and vehicles
21 reported, 7 no longer reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Fund 027 | Fund | 2023 adv first reported | Active deployment | $492M Mar 22, 2024 | 165 | unknown | unknown |
| Fund 028 | Fund | 2023 adv first reported | Active deployment | $15.1M Mar 22, 2024 | 16 | unknown | unknown |
| Fund 025 | Fund | 2022 adv first reported | Active deployment | $241M Mar 22, 2024 | 42 | unknown | unknown |
| Fund 026 | Fund | 2022 adv first reported | Active deployment | $14.7M Mar 22, 2024 | 14 | unknown | unknown |
| Fund 023 | Fund | 2021 adv first reported | Mature | $273M Mar 22, 2024 | 134 | unknown | unknown |
| Fund 024 | Fund | 2021 adv first reported | Mature | $10.7M Mar 22, 2024 | 9 | unknown | unknown |
| Fund 021 | Fund | 2019 adv first reported | Mature | $303M Mar 22, 2024 | 83 | unknown | unknown |
| Fund 022 | Fund | 2019 adv first reported | Mature | $16.6M Mar 22, 2024 | 8 | unknown | unknown |
| Fund 019 | Fund | 2017 adv first reported | Harvest | $541M Mar 22, 2024 | 72 | unknown | unknown |
| Fund 020 | Fund | 2017 adv first reported | Harvest | $14.7M Mar 22, 2024 | 6 | unknown | unknown |
| Fund 017 | Fund | 2015 adv first reported | Harvest | $187M Mar 22, 2024 | 74 | unknown | unknown |
| Fund 018 | Fund | 2015 adv first reported | Harvest | $5.0M Mar 22, 2024 | 5 | unknown | unknown |
| Fund 016 | Fund | 2014 adv first reported | Harvest | $1.8M Mar 22, 2024 | 3 | unknown | unknown |
| Fund 014 | Fund | 2013 adv first reported | Harvest | $287M Mar 22, 2024 | 75 | unknown | unknown |
| Fund 015 | Fund | 2013 adv first reported | Harvest | $5.5M Mar 22, 2024 | 3 | unknown | unknown |
| Fund 006 | Fund | unknown | Unknown | $30.5M Mar 22, 2024 | 69 | unknown | unknown |
| Fund 011 | Fund | unknown | Unknown | $29.7M Mar 22, 2024 | 64 | unknown | unknown |
| Fund 008 | Fund | unknown | Unknown | $3.4M Mar 22, 2024 | 5 | unknown | unknown |
| Fund 012 | Fund | unknown | Unknown | $1.2M Mar 22, 2024 | 3 | unknown | unknown |
| Fund 007 | Fund | unknown | Unknown | $278,697 Mar 22, 2024 | 18 | unknown | unknown |
| Fund 013 | Fund | unknown | Unknown | $175,177 Mar 22, 2024 | 14 | unknown | unknown |
| Fund 009 | Fund | unknown | Wound down | $1.4M Mar 31, 2023 | 45 | unknown | unknown |
| Fund 001 | Fund | unknown | Wound down | $1.4M Mar 29, 2014 | 37 | unknown | unknown |
| Fund 005 | Fund | unknown | Wound down | $888,820 Mar 31, 2023 | 66 | unknown | unknown |
| Fund 010 | Fund | unknown | Wound down | $434,881 Mar 31, 2023 | 3 | unknown | unknown |
| Fund 002 | Fund | unknown | Wound down | $314,231 Oct 17, 2018 | 46 | unknown | unknown |
| Fund 003 | Fund | unknown | Wound down | $206,647 Mar 29, 2014 | 33 | unknown | unknown |
| Fund 004 | Fund | unknown | Wound down | $0 Sep 29, 2017 | 42 | unknown | unknown |
GAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.
Investment team
11 current, 0 departed
Joshua Marc Kopelman
Managing partnerManaging Member · since Feb 1, 2008
Knowlton Bennett
OtherChief of Staff
Maddi Conlin
OtherChief of Staff
Garcia Gonzalez
PartnerSpecial Partner, Decision Science
Rena Marcy Kopelman
PartnerLimited Partner · since Feb 1, 2008
Simon Zhou
PartnerPartner
Arielle Jackson
Platform and operationsHead of Brand & Product Marketing
Jessi Craige Shikman
Platform and operationsOperations Specialist
Locke Luhnow
Platform and operationsAssociate Technical Recruiter
Margarette Jung
Platform and operationsGrowth Marketing Director
Simon Zhou
Platform and operationsInsights and Operations
Investments on record
11 edges, 11 companies, 0 partner-attributed
“This investor” is the amount disclosed for this investor alone; it is unknown unless a source said it. The round size is the whole round.
Co-investors
17 relationships from shared deals, counted for the whole firm
G Squared Equity LLC 2 shared · recurringSapphire Ventures, LLC 2 shared · recurringVillage Global Management, L.L.C. 2 shared · recurringIndex Ventures Sa 2 shared · recurringAlkeon Capital Management, LLC 2 shared · recurringWebb Investment Network Management, LLC 1 shared · one timePWV Capital Management LLC 1 shared · one timeFelicis Ventures 1 shared · one timeCollaborative Fund Management LLC 1 shared · one timeInstitutional Venture 1 shared · one timeSection Partners 1 shared · one timeA-Star Partners, LLC 1 shared · one timeGlynn Capital Management, LLC 1 shared · one timeAlter Management LLC 1 shared · one timeKhosla Ventures, LLC 1 shared · one timeShrug, LLC 1 shared · one timeFirstmark Capital, LLC 1 shared · one time
Limited partners
0 disclosed
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Timeline
37 dated events
- Sep 15, 2026FR Capital Holdings, LP: INSTITUTIONAL_VC -> ANGEL_FUND (name or self-description says angel)Classification changedClassificationInferenceno URL
- Mar 22, 2024Fund 009 no longer reported on Form ADV by FR Capital Holdings, LPFund no longer reportedFundsInferenceFund 009SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 22, 2024Fund 005 no longer reported on Form ADV by FR Capital Holdings, LPFund no longer reportedFundsInferenceFund 005SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 22, 2024Fund 010 no longer reported on Form ADV by FR Capital Holdings, LPFund no longer reportedFundsInferenceFund 010SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2023Fund 027 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $503,023,739Fund first reported on Form ADVFundsFactFund 027SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2023Fund 028 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $15,100,995Fund first reported on Form ADVFundsFactFund 028SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 24, 2022Fund 026 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $15,343,418Fund first reported on Form ADVFundsFactFund 026SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 24, 2022Fund 025 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $255,416,847Fund first reported on Form ADVFundsFactFund 025SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2021Fund 023 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $203,685,534Fund first reported on Form ADVFundsFactFund 023SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2021Fund 024 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $9,572,338Fund first reported on Form ADVFundsFactFund 024SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2019Fund 022 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $10,607,706Fund first reported on Form ADVFundsFactFund 022SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2019Fund 021 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $209,392,291Fund first reported on Form ADVFundsFactFund 021SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2019Fund 002 no longer reported on Form ADV by FR Capital Holdings, LPFund no longer reportedFundsInferenceFund 002SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2018Fund 004 no longer reported on Form ADV by FR Capital Holdings, LPFund no longer reportedFundsInferenceFund 004SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2017Fund 019 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $176,716,995Fund first reported on Form ADVFundsFactFund 019SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2017Fund 020 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $4,585,055Fund first reported on Form ADVFundsFactFund 020SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2015Fund 018 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $3,984,883Fund first reported on Form ADVFundsFactFund 018SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2015Fund 001 no longer reported on Form ADV by FR Capital Holdings, LPFund no longer reportedFundsInferenceFund 001SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2015Fund 003 no longer reported on Form ADV by FR Capital Holdings, LPFund no longer reportedFundsInferenceFund 003SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2015Fund 017 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $174,885,778Fund first reported on Form ADVFundsFactFund 017SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2014Fund 016 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $3,000,000Fund first reported on Form ADVFundsFactFund 016SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 22, 2013Fund 014 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $156,478,762Fund first reported on Form ADVFundsFactFund 014SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 22, 2013Fund 015 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $2,765,257Fund first reported on Form ADVFundsFactFund 015SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 012 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $3,339,700Fund first reported on Form ADVFundsFactFund 012SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 003 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $1,710,629Fund first reported on Form ADVFundsFactFund 003SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 010 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $6,990,356Fund first reported on Form ADVFundsFactFund 010SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 005 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $19,694,347Fund first reported on Form ADVFundsFactFund 005SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 008 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $17,316,992Fund first reported on Form ADVFundsFactFund 008SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 006 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $238,099,756Fund first reported on Form ADVFundsFactFund 006SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 001 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $15,817,099Fund first reported on Form ADVFundsFactFund 001SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 004 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $3,944,326Fund first reported on Form ADVFundsFactFund 004SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012FR Capital Holdings, LP first filed Form ADV (ERA, venture capital fund adviser exemption)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 007 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $2,033,354Fund first reported on Form ADVFundsFactFund 007SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 013 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $850,471Fund first reported on Form ADVFundsFactFund 013SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 002 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $6,838,823Fund first reported on Form ADVFundsFactFund 002SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 011 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $151,828,273Fund first reported on Form ADVFundsFactFund 011SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 009 first reported on Form ADV by FR Capital Holdings, LP (Venture Capital Fund), GAV $12,645,319Fund first reported on Form ADVFundsFactFund 009SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 15, 2026Angel fund or group (confirmed, 95%, cls-1)name or self-description says angel
- Sep 15, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $2,473M across 21 vehicles
- Sep 12, 2026Institutional venture firm (confirmed, 70%, cls-1)venture manager with no reported fund assets yet (scale unknown)
Evidence
60 observations from 3 sources