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First In is a venture capital firm founded in 2020, based in the United States, with a focus on supporting entrepreneurs in the security technology sector. The firm is structured as an SBIC-licensed fund, which allows it to leverage SBA-guaranteed capital for investments in critical technology sectors tied to national security. First In primarily invests in seed-stage companies, emphasizing those that address significant challenges faced by both commercial and government enterprises.
The firm has established itself in the Mid-Atlantic / DC corridor, where it operates with a team of experienced professionals from military and intelligence backgrounds. First In's notable milestones include the recent closing of its SBIC Critical Technologies Fund 3, which secured $148 million in investable capital. This fund is designed to support innovative solutions in cybersecurity, defense technology, and data/intelligence.
First In's investment strategy is centered around a 'Systemic Security Investing' framework, which focuses on interconnected domains of security technology. The firm has made significant strides in the venture capital space, particularly in the security technology sector, and continues to seek out promising startups that align with its mission.
First In primarily invests in the sectors of cybersecurity, defense, and data technology, with a strong emphasis on seed-stage companies. The firm seeks to partner with emerging security technology companies that tackle critical challenges faced by both commercial and government enterprises. Their investment strategy prioritizes unique and protectable technologies, often led by founding teams with firsthand experience in the problems they aim to solve.
The firm typically writes checks ranging from $500,000 to $5 million at the seed stage and frequently leads seed rounds. First In is open to earlier investments, including pre-seed, for exceptional teams. Their investment thesis, termed 'Systemic Security Investing,' encompasses three interconnected domains: cybersecurity, defense technology, and data/intelligence. This approach allows First In to support innovative solutions that address national security challenges effectively.
First In has built a notable portfolio of companies primarily focused on security technology. Key investments include:
This diverse portfolio reflects First In's commitment to investing in innovative technologies that address pressing security challenges.
Renny McPherson - Managing Partner. Renny co-founded RedOwl Analytics, a security company acquired by Forcepoint in 2017. He has served as a Principal at Brown Advisory and has a background as a Marine Corps intelligence officer. Renny holds a cum laude degree from Harvard College and an MBA from Harvard Business School.
Arthur Karell - Partner. Arthur joined First In in 2022 and leads investments in defense and dual-use technology. He began his career as an attorney and later served as a Marine Corps infantry officer. Arthur has held leadership roles at FiscalNote and Anduril Industries, where he focused on defense contracting and M&A.
Claudius E. Watts IV - Senior Advisor. Claudius brings extensive experience in the defense sector and provides strategic insights to the firm.
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To pitch First In, founders should visit their website at wearefirstin.com. It is recommended to include a comprehensive overview of the startup's technology, market opportunity, and the founding team's qualifications in the pitch deck. First In prefers to receive pitches through their website and values warm introductions, although they do not explicitly require them. Response times may vary, but founders can expect to hear back within a few weeks if their pitch aligns with the firm's investment focus.
Recently, First In announced the final closing of its SBIC Critical Technologies Fund 3, securing $148 million in investable capital. This fund will enable the firm to continue supporting seed-stage investments in the security technology sector.
Additionally, First In has published several blog posts discussing current trends in security technology, including AI models for warfare and strategic lessons from drone technology. These publications reflect the firm's engagement with contemporary issues in the industry.
What are First In's investment criteria?
First In primarily invests in seed-stage companies within the cybersecurity, defense, and data sectors. They look for unique and protectable technologies led by experienced founding teams with relevant backgrounds.
How can I pitch First In?
Founders can submit their pitches through the First In website at wearefirstin.com. It is advisable to include a clear overview of the technology, market potential, and the founding team's expertise.
What makes First In different from other VCs?
First In focuses exclusively on security technology and employs a 'Systemic Security Investing' framework, which emphasizes interconnected domains of cybersecurity, defense technology, and data/intelligence.
What is the geographic scope of First In's investments?
The firm primarily invests in companies based in the United States, particularly those located in the Mid-Atlantic / DC corridor.
What is the typical check size for investments?
First In typically invests between $500,000 and $5 million at the seed stage, often leading seed rounds.
What kind of post-investment support does First In provide?
First In adds value to its portfolio companies by leveraging its expertise in security technology and providing strategic guidance to navigate the complexities of the security landscape.
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