Firstminute Capital

Firstminute Capital is a seed-stage venture capital firm that invests in UK, European, and US founders building global software champions. Founded in 2017 by Spencer Crawley and Brent Hoberman, the firm has built a unique position in the market as the first institutional check into exceptional founders.

This comprehensive guide provides everything you need to know about securing funding from Firstminute Capital, including their investment thesis, portfolio companies, typical check size of $1M to $5M, and strategies for successfully pitching your startup.

Understanding Firstminute Capital's approach to investing is crucial for founders seeking capital. The firm has developed a reputation for supporting entrepreneurs who are building transformative companies across multiple sectors. Whether you're at the pre-seed stage or building your Series A, this guide will help you understand how to position your company for success with Firstminute Capital.

In addition to capital, Firstminute Capital provides portfolio companies with access to their extensive network of over 130 unicorn founders who serve as a resource for advice, connections, and mentorship. This support system can be invaluable for early-stage companies looking to scale quickly and efficiently.

The venture capital landscape has evolved significantly over the past decade, with firms like Firstminute Capital leading the way in identifying and supporting the next generation of software category leaders.

Firstminute Capital's investment thesis centers on being the first institutional check into European and US founders building global software champions. The firm targets 10% ownership and aims to write the first meaningful check into a company.

The firm invests across software categories with current theses around AI procurement software ($13T opportunity), consumer healthcare (next $1T company), and general category-defining software companies. Their approach combines sector analysis with founder-first evaluation.

Firstminute has built a unique LP and mentor network of 130+ unicorn founders who provide portfolio companies with access to advice, customer introductions, and strategic guidance. This network differentiates firstminute from other seed funds in Europe and the US.

With $500M AUM and 170+ portfolio companies, firstminute has demonstrated the ability to identify and support exceptional founders at the earliest stages. The firm's recent theses focus on transformative opportunities like AI in enterprise procurement.

Firstminute aims to be the first call for exceptional founders, providing meaningful capital and network access at a stage when companies need both most.

Firstminute Capital has continued to maintain an active investment pace in recent years, deploying capital across UK, European, and US markets. The firm's portfolio demonstrates a commitment to backing entrepreneurs who are reimagining software categories.

Recent investment activity shows Firstminute remains committed to its core thesis while also exploring new sectors and geographies. The firm has published thought leadership on AI procurement and consumer healthcare as key focus areas.

The firm's ability to source deals through their network of unicorn founders and other investors has been a key factor in their success. Firstminute has relationships with top-tier European and US founders.

In addition to new investments, Firstminute has been active in supporting its existing portfolio companies through follow-on rounds. This continued support demonstrates the firm's commitment to long-term partnerships with founders.

Market conditions have influenced Firstminute's investment approach, with the firm maintaining discipline around valuations while remaining highly active in quality seed opportunities.

Firstminute Capital's portfolio showcases the firm's ability to identify and support winners across multiple technology sectors. Notable investments include Zego, the embedded insurance platform that achieved significant scale, and Automata, a leader in laboratory automation.

Other notable portfolio companies include Circula (expense management), Maze (user research platform), and Phrasee (AI-powered marketing language). These companies represent the firm's thesis around software category creation.

Portfolio companies benefit from Firstminute's extensive network of 130+ unicorn founders. The firm takes an active approach to supporting its investments through strategic introductions and operational guidance.

The diversity of Firstminute's portfolio reflects the firm's comprehensive thesis around transformative software. The firm has made 170+ investments across various categories and geographies.

Portfolio companies have access to Firstminute's strategic network and can leverage the firm's operational expertise to accelerate growth. This combination of capital and network support creates meaningful value at the seed stage.

Firstminute Capital evaluates potential investments based on several key criteria. The firm places particular emphasis on the founding team, looking for entrepreneurs with deep industry knowledge, proven execution ability, and a clear vision for building category-defining companies.

Market opportunity is another critical factor in Firstminute's investment decision process. The firm seeks companies addressing large, growing markets with the potential for significant revenue growth. Products or services must demonstrate clear differentiation from existing solutions.

Financial metrics matter to Firstminute, though early-stage companies may have limited historical data. The firm looks for evidence of customer traction, strong unit economics, and a clear path to profitability or the next funding round.

Beyond quantitative metrics, Firstminute assesses qualitative factors such as company culture, leadership team dynamics, and the founder's ability to attract and retain top talent. The firm looks for companies with strong foundations that can support sustainable growth.

Competitive positioning is carefully evaluated by Firstminute. The firm looks for companies with clear competitive advantages that can be defended over time. This includes proprietary technology, exclusive partnerships, or other moats that protect market position.

Firstminute also considers the scalability of a company's business model and its fit within the firm's broader network of unicorn founders who can provide strategic value.

Securing a meeting with Firstminute Capital requires a strategic approach. The firm operates with a focused deal flow, so making your submission stand out is essential for getting noticed.

Warm introductions remain the most effective way to connect with Firstminute Capital. The firm is more likely to meet with founders who come recommended by their network of unicorn founders, portfolio CEOs, or other trusted investors.

Firstminute also responds to cold submissions through their website. If pursuing this route, ensure your pitch deck is polished, your pitch is concise, and you clearly articulate why your company fits Firstminute's investment thesis. Focus on the problem you're solving, your solution, and why your team is uniquely positioned to execute.

When preparing for your meeting with Firstminute, be ready to discuss your business in depth. The firm will want to understand your market size, competitive landscape, business model, traction metrics, and fundraising plans.

Following up after your initial meeting is important. Firstminute typically takes several weeks to make investment decisions, so maintain communication without being overly pushy. Send updates on your progress and any significant milestones achieved.

Building a long-term relationship with Firstminute can be valuable even if your current fundraising round doesn't result in an investment. The firm may be interested in future rounds or can provide valuable introductions to other investors.

While Firstminute invests in early-stage companies, they expect founders to have a solid handle on their financials. This includes understanding your burn rate, runway, unit economics, and path to profitability.

Many first-time founders underestimate the importance of financial preparedness when raising capital. Investors want to see that you understand your business's financial mechanics and have realistic expectations for how you'll use the capital you raise.

Working with a fractional CFO can significantly improve your chances of securing funding. Professional financial guidance helps you build accurate projections, prepare investor-ready financials, and confidently answer due diligence questions.

Our team has helped numerous companies raise venture capital and would be happy to discuss how we can support your fundraising efforts. From pitch deck financials to comprehensive financial models, we ensure you're prepared for the investment process.

Financial projections should be realistic and grounded in evidence. Firstminute will scrutinize your assumptions and challenge your projections. Be prepared to explain the basis for your forecasts and demonstrate that you've considered various scenarios.

Understanding your key performance indicators (KPIs) is essential when pitching to Firstminute. The firm will want to see that you track the metrics that matter most to your business and can explain trends in your performance.

Whether you're preparing to pitch Firstminute or other top VCs, having professional financials can set you apart from the competition. Our team has helped companies raise understands what investors look for in financial presentations.

Exploring other venture capital firms? Our comprehensive collection of VC firm reviews covers hundreds of investors across all stages and sectors.

Each review provides detailed information about investment criteria, portfolio companies, and tips for securing funding. Whether you're looking for seed-stage investors or growth equity firms, you'll find valuable insights in our VC firm guides.

Finding the right investor for your startup is crucial to your success. Take the time to research potential investors and understand their investment thesis before reaching out.

Our guides cover major venture capital firms as well as emerging managers that may be a better fit for your company's specific needs and stage.