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First Analysis

First Analysis is a Chicago-based venture capital and transaction advisory firm founded in 1981, specializing in investments in growth-stage B2B technology companies. The firm leverages over 40 years of sector research to support its investment strategy.

Founded
1981
Recorded stages
Series A, Growth Equity
Recorded regions
North America

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Overview

First Analysis is a venture capital and transaction advisory firm established in 1981 and based in Chicago, Illinois. The firm focuses on investing in technology-driven companies across various sectors, including cybersecurity, healthcare IT, and enterprise productivity. With a commitment to supporting entrepreneurs and investors, First Analysis utilizes its extensive sector research to identify and invest in growth-focused B2B technology companies. The firm operates both First Analysis Capital Management LLC for venture capital investment advisory services and First Analysis Securities Corp. for investment banking services. First Analysis targets companies with proven business models and annual recurring revenues between $1M and $10M, making initial investments ranging from $3M to $10M.

Focus

First Analysis targets early to growth-stage companies in sectors such as cybersecurity, e-commerce optimization, enterprise productivity, the future of work, go-to-market technology, healthcare IT, infrastructure technology, the Internet of Things, pharmaceutical IT, and supply chain management. The firm seeks to invest in companies with annual recurring revenues between USD1M and USD10M.

Support

First Analysis provides extensive support to its portfolio companies, including strategy development, pricing, market sizing, positioning, follow-on investor introductions, channel partnerships, acquisition strategy, board recruitment, executive talent, governance, compensation planning, KPI reporting, and operational scaling.

Questions

What are First Analysis's investment criteria?

First Analysis focuses on technology-driven companies across various sectors, including cybersecurity and healthcare IT. They target early to growth-stage opportunities, specifically in seed, Series A, Series B, and growth equity stages.

How can I pitch to First Analysis?

Founders can pitch to First Analysis by reaching out through their website. It is advisable to include a clear business plan, market analysis, and details about the technology being developed.

What makes First Analysis different from other VC firms?

First Analysis combines investment with transaction advisory services, providing a unique perspective on market dynamics. Their extensive research capabilities enhance their understanding of industry trends, which can be beneficial for portfolio companies.

What is the typical check size for investments?

First Analysis typically invests between $3 million and $10 million per company, allowing them to support a range of startups at different stages of growth.

What geographic areas does First Analysis focus on?

The firm primarily focuses on investments within the United States, targeting technology-driven companies that are positioned for growth.

What kind of post-investment support does First Analysis provide?

While specific details on post-investment involvement were not provided, First Analysis's advisory services suggest they may offer strategic guidance and resources to help portfolio companies scale effectively.

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