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FirstMark Capital

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FirstMark Capital
FormerlyPequot Ventures
Company typePrivate
IndustryPrivate Equity
FoundedJune 30, 2008; 15 years ago (2008-06-30)[1]
HeadquartersNew York City, U.S.
Key people
Amish Jani
Rick Heitzmann
ProductsVenture capital
Websitewww.firstmarkcap.com

FirstMark Capital is a venture capital firm based in New York City. FirstMark invests in early-stage technology companies, frequently as the first institutional investor. Notable investments include Airbnb, Pinterest, Shopify, DraftKings, Upwork, and InVision.[2][3][4][5]

Among the firm's areas of focus are Big Data, Artificial Intelligence, healthcare, enterprise applications, education, financial technology, e-commerce, direct-to-consumer, and marketing technology.[2]

History

FirstMark was founded on June 30, 2008 by Mr. Lenihan, Jerry Poch, Amish Jani and Rick Heitzmann.[1] The firm has raised 5 early-stage funds and 3 growth funds.

  • The first fund, for $197M, was raised in 2008.[6]
  • The second fund, for $225M, was raised in 2011.[6]
  • The third fund, for $225M, was raised in 2013.[6]
  • The fourth fund, for $275M, was raised in 2016.[6]
  • The fifth fund, for $380M, was raised in 2020.[7]

FirstMark has also raised three growth-stage funds.

  • The first growth fund, for $150M, was raised in 2013.[6]
  • The second growth fund, for $205M, was raised in 2016.[6]
  • The third growth fund, for $270M, was raised in 2020.[8]

Team

FirstMark Capital was founded by Rick Heitzmann and Amish Jani in 2008. The firm now has five managing directors: Rick Heitzmann, Amish Jani, Matt Turck, Beth Ferreira and Adam Nelson.

In addition to its investment team, the firm employs a Platform team focused on areas like corporate development, talent, content, and community who are responsible for supporting FirstMark companies after an investment. FirstMark also organizes four NYC-based communities revolving around Artificial Intelligence & Big Data, design and product management, emerging and frontier technology, and software development.

Investments

The firm's most notable investments include Pinterest,[3] which debuted on New York Stock Exchange on April 18, 2019, as well as Shopify.[9] Other current and historical investments include Riot Games, creator of League of Legends (acquired by Tencent Holdings),[10] InVision,[11] Discord,[12] Airbnb,[13] Upwork,[5] TraceLink,[14], Dataiku,[15], Dashlane,[16] Starry,[17] and Ro[18] among others.

FirstMark focuses on Series A and Seed-stage investments, with capital reserved for follow-investments.

References

  1. ^ a b "Pequot to Separate Its V.C. and Hedge Fund Units". No. DealBook. United States: New York Times. The New York Times Company. 4 March 2008. Retrieved 4 September 2019.
  2. ^ a b Geron, Tomio (15 June 2016). "FirstMark Capital Raises $480M for Two New Funds". Wall Street Journal. Retrieved 10 October 2019.
  3. ^ a b Vilarino, Dalbert (24 March 2019). "Hey, Look at Me! I'm a Venture Capitalist". New York Times. Retrieved 10 October 2019.
  4. ^ Primack, Dan (1 September 2016). "Exclusive: DraftKings Raises Giant New Funding Round". Fortune. Retrieved 10 October 2019.
  5. ^ a b Crichton, Danny (3 October 2018). "Upwork pops more than 50 percent in Nasdaq debut". TechCrunch. Retrieved 10 October 2019.
  6. ^ a b c d e f "FirstMark | Crunchbase".
  7. ^ "FirstMark Capital announces new funds with a fresh $650 million in investment capita". TechCrunch.
  8. ^ "FirstMark Capital announces new funds with a fresh $650 million in investment capita". TechCrunch.
  9. ^ Shopify Raises $7 Million Series A Funding
  10. ^ China's Tencent Buys Riot Games for $400 Million
  11. ^ Ha, Anthony. "InVision Raises $1.5M For Beautiful, Interactive Prototypes". TechCrunch. Retrieved 2017-11-26.
  12. ^ Matney, Lucas (21 December 2018). "Gaming chat startup Discord raises $150M, surpassing $2B valuation". TechCrunch. Retrieved 10 October 2019.
  13. ^ "Airbnb". FirstMark. Retrieved 2019-08-14.
  14. ^ Crook, Jordan (30 November 2016). "TraceLink, helping the pharma industry trace and track drugs, lands $51.5M from Goldman Sachs". TechCrunch. Retrieved 10 October 2019.
  15. ^ [1]. TechCrunch, May 19, 2014
  16. ^ Dashlane Passes 2M Users, Collects $22M For Its Client-Based Password Manager. TechCrunch, May 19, 2014
  17. ^ "Aereo's Founder Is Back With Starry. This Time He's Going After Broadband, Not TV". Recode. Retrieved 2017-11-26.
  18. ^ Clark, Kate (15 April 2019). "Ro, a direct-to-consumer online pharmacy, reaches $500M valuation". TechCrunch. Retrieved 10 October 2019.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=FirstMark_Capital&oldid=972164909"