FR Capital Holdings, LP
Institutional venture firm, based in Philadelphia, Pennsylvania, reporting $3.8B of fund assets on its funds' Form ADV filings.
Composed from this organization's classification, location and filed figures.
7 additional team members, 19 additional co-investors and affiliates, 35 additional investments, funds and LPs, 35 events, 1 verified contact (1 firm phone)
Every relationship, signal and contact on this record, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
What matters now
- 3 dealswith Sequoia Capital
Invests most often alongside Sequoia Capital (3 shared deals) and Village Global Management (2 shared deals).
pair last observed on record 1 Oct 2026, not a deal date · The firms it syndicates with are the likeliest to see the same deals and to fill out its rounds.
Measuredshared rounds and portfolio companies on recordFor Founders building a round, co-investorsCo-investors →
People to know
View all people- Special Partner, Decision ScienceWhy: Partner: part of the investment decisionNo route on file yet
- Limited PartnerWhy: Partner: part of the investment decisionNo route on file yet
- Managing MemberWhy: Named with investment responsibilityNo route on file yet
Relationship network
73 connected entities
From financing rounds and every investor named in them, Form ADV and Form D filings, the firm's funds and team, and disclosed LP commitments in the venture capital graph. A round's amount is the size of the round, not money that moved between two investors.
Some relationships on this record are counted rather than named here. They open with the full profile.
Click any name or line for the rounds and sources behind it. Line weight is rounds together; dashed lines are inferred.
- Sponsor
- Company
- Fund or vehicle
- Person
›How strength and recency are read
Co-investors are read from the rounds: three or more shared rounds is a strong observed relationship, two a repeat co-investor, one a single round. Funds and people are structural. Nothing is scored that a reader cannot check.
Darker lines were active in the last 24 months or are current; lighter lines are older or undated.
How am I connected?
Name your firm, a company or a person, and DFX finds the published routes to FR Capital Holdings, LP: a shared portfolio company or board, a prior employer, a co-investor, a shared LP or service provider. Every step is a filed or published record with its source; none is a guess about who knows whom.
See how you connect to FR Capital Holdings, LP
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Investing
11 companies on record, 0 new in 12 months
Investments on record
What these amounts mean“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.Acquired, Public, Exited and Active are what the firm’s own portfolio card says, read on the date shown when you hover the chip; they are not deal dates. A company with no chip is one whose card states no outcome: DFX does not assume it is active.| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| Clay | portfolio listing | unknown | unknown | unknown | unknown | Sep 16, 2026 | Fact Firm website |
| EvolutionIQ Inc. | portfolio listing | unknown | unknown | unknown | unknown | Sep 16, 2026 | Fact Firm website |
| fal | portfolio listing | unknown | unknown | unknown | unknown | Sep 16, 2026 | Fact Firm website |
Stated thesis versus observed behaviour
- 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
Team
10 current, 0 departed
Decision makers
- Garcia Gonzalez · Special Partner, Decision ScienceWhy this person: Partner: part of the investment decision; Named with investment responsibility
- Rena Marcy Kopelman · Limited PartnerWhy this person: Partner: part of the investment decision; Named with investment responsibility
Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.
Investment team
How the team is orderedPartners who lead rounds first (rounds led, then deals attributed, then seniority), then the rest of the investment team, then investor relations, finance and operations. A person named by two sources under two spellings is shown once.- Managing Member
- Special Partner, Decision Science
- Limited Partner
Contacts
1 firm phone on record, each with its source. Values open with the complete profile.
Funds and LPs
23 vehicles, 0 LPs disclosed
Funds and vehicles
What these amounts meanGAV 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.| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Fund 027 | Fund | 2023 adv first reported | Active deployment | $529M Mar 31, 2026 | 165 | unknown | unknown |
| Fund 028 | Fund | 2023 adv first reported | Active deployment | $16.9M Mar 31, 2026 | 16 | unknown | unknown |
| Fund 025 | Fund | 2022 adv first reported | Active deployment | $388M Mar 31, 2026 | 42 | unknown | unknown |
Limited partners
Known LPs and allocators
What these amounts and dates areEach commitment is counted once across the pension tape and the allocator graph. A commitment date prints only when the source printed one; otherwise the row carries the report date. A foundation’s 990-PF line is a holding at fair value, never a commitment. Rows without a fund on the venture graph are commitments to this manager.Relationships across DFX
22 co-investors · on 1 other DFX graph
Co-investors
- 2026-10-013 shared deals · recurring
- 2026-10-012 shared deals · recurring
- 2026-09-302 shared deals · recurring
Across DFX and the capital chainon 1 other DFX graph ShowHide
- The same institution is held on RIA and Wealth, matched by identifier. See which records
FR Capital Holdings, LP is the same institution as 1 record in RIA and Wealth.
The joined record opens with the product, beside every other relationship on this page.
Checking your plan…
Evidence and history
40 dated events, 74 observations from 4 sources
Timeline
- seen on or beforeSep 24, 2026FR Capital Holdings, LP: ANGEL_FUND -> INSTITUTIONAL_VC (venture manager, reported GAV $3,845M across 23 vehicles)Classification changedClassificationInference
- seen on or beforeSep 15, 2026FR Capital Holdings, LP: INSTITUTIONAL_VC -> ANGEL_FUND (name or self-description says angel)Classification changedClassificationInference
- Mar 31, 2026
- Mar 31, 2026
- Mar 22, 2024
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 31, 2026 · 22 private fundsShowHide
Website description: 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.”
- Headquarters
- Philadelphia, PAadviserinfo.sec.gov
- Office address
- unknownadviserinfo.sec.gov
- Business phone
- unknownadviserinfo.sec.gov
- Website
- 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, adviser total
- $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), owns under 5%
Classification history
Classification history
Every classification this record has carried4 on recordShowHide
- Sep 24, 2026Institutional venture firm (confirmed, 95%)Venture manager, reported GAV $3.8B across 23 vehicles
- Sep 15, 2026Angel fund or group (confirmed, 95%)Name or self-description says angel
- Sep 15, 2026Institutional venture firm (confirmed, 95%)Venture manager, reported GAV $2.5B across 21 vehicles
- Sep 12, 2026Institutional venture firm (confirmed, 70%)Venture manager with no reported fund assets yet (scale unknown)
Evidence
Every observation behind this profile, with its source, date and class
| Fact | Value | Effective | Class | Source |
|---|---|---|---|---|
| Why admitted | VC exemption, VC funds reported | Mar 31, 2026 | Fact | Form ADV |
| SEC exemption claimed | Venture capital fund adviser | Mar 31, 2026 | Fact | Form ADV |
| SEC exemption claimed | Venture capital fund adviser | Mar 22, 2024 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 31, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 31, 2026 | Fact | Form ADV |
| SEC adviser type | Exempt reporting adviser | Mar 22, 2024 | Fact | Form ADV |
| First Form ADV filing | 2012-03-30 | Mar 31, 2026 | Fact | Form ADV |
| First Form ADV filing | 2012-03-30 | Mar 22, 2024 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-29 | Sep 30, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-25 | Sep 26, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-23 | Sep 24, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-21 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-22 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1 | Sep 12, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-03-31 | Mar 31, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-03-31 | Mar 31, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2024-03-22 | Mar 22, 2024 | Fact | Form ADV |
| SEC status | ERA - Active | Mar 31, 2026 | Fact | Form ADV |
| SEC status effective | 2012-03-30 | Mar 31, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | Mar 31, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | Mar 22, 2024 | Fact | Form ADV |
| Business phone | Mar 31, 2026 | Fact | Form ADV | |
| Business phone | Mar 22, 2024 | Fact | Form ADV | |
| Description | Sep 16, 2026 | Fact | ||
| Description | Sep 15, 2026 | Fact | ||
| Headquarters | Philadelphia, PA | Mar 31, 2026 | Fact | Form ADV |
| Headquarters | Philadelphia, PA | Mar 22, 2024 | Fact | Form ADV |
| Office address | Mar 31, 2026 | Fact | Form ADV | |
| Office address | Mar 22, 2024 | Fact | Form ADV | |
| Self-described type | angel | Sep 16, 2026 | Fact | |
| Self-described type | angel | Sep 15, 2026 | Fact | |
| Legal form | Limited Partnership | Mar 31, 2026 | Fact | Form ADV |
| Legal form | Limited Partnership | Mar 22, 2024 | Fact | Form ADV |
| Portfolio page | Sep 16, 2026 | Fact | ||
| Portfolio page | Sep 15, 2026 | Fact | ||
| Private funds reported | 22 | Mar 31, 2026 | Fact | Form ADV |
| Private funds reported | 22 | Mar 31, 2026 | Fact | Form ADV |
| Private funds reported | 21 | Mar 22, 2024 | Fact | Form ADV |
| Private fund gross assets (reported) | $3.8B | Mar 31, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $3.8B | Mar 31, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $2.5B | Mar 22, 2024 | Fact | Form ADV |
| Schedule a diff | sadiff-1 | Sep 20, 2026 | Fact | Form ADV |
| Stated geography | new york, philadelphia “geography words on the home page” | Sep 16, 2026 | Fact | |
| Stated geography | new york, philadelphia “geography words on the home page” | Sep 15, 2026 | Fact | |
| Stated sectors | AI, enterprise software, fintech, healthcare, consumer, hardware, space, gaming, media “sector words on the home page” | Sep 16, 2026 | Fact | |
| Stated sectors | AI, enterprise software, fintech, healthcare, consumer, hardware, space, gaming, media “sector words on the home page” | Sep 15, 2026 | Fact | |
| Stated stages | Pre seed, seed, early “stage words on the home page” | Sep 16, 2026 | Fact | |
| Stated stages | Pre seed, seed, early “stage words on the home page” | Sep 15, 2026 | Fact | |
| Team page | Sep 16, 2026 | Fact | ||
| Team page | Sep 15, 2026 | Fact | ||
| Venture funds reported | 22 | Mar 31, 2026 | Fact | Form ADV |
| Venture funds reported | 22 | Mar 31, 2026 | Fact | Form ADV |
| Venture funds reported | 21 | Mar 22, 2024 | Fact | Form ADV |
| Website | Sep 12, 2026 | Fact | Form ADV | |
| Website | Mar 22, 2024 | Fact | Form ADV | |
| Site title | Sep 16, 2026 | Fact | ||
| Site title | Sep 15, 2026 | Fact |
How this is scored
Scores, classification basis and filing advisersInstitutional venture firm, confirmedShowHide
Venture manager, reported GAV $3.8B across 23 vehicles
- importance
- gav: 0.78 · funds: 1 · people: 0.16 · investments: 0.39 · co investors: 0.54
- active deployment
- investments 12m: 0 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: not scored
- emerging manager
- fund count: 30 · reported gav: $3.8B · first adv filing: 2012-03-30 · years since first filing: 14.5
Fits, record history and connections
scored matches for this investor, every identity change, every edge
Record history
- Organization classification changed2026-09-24
- Organization classification changed2026-09-15
- Adviser's first ADV filing2012-03-30source on record
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.