VC firm
First Analysis
Also known as First Analysis Fund XIV (Cayman), L.P., First Analysis Fund XIV A, First Analysis Fund XIV Cayman, First Analysis Fund XIV-A, L.P.
- Investor type
- VC
- Investing status
- Activeas of 2026-09-18Source (opens in a new tab)
- Headquarters
- Chicago, Illinois, United States
- Assets under management
- $186MForm ADV private fund GAV, as of 2026-05-10Source (opens in a new tab)
- Funds
- 8
- Check size
- investing from $3 to $10 millionSource (opens in a new tab)
- Legal name
- FIRST ANALYSIS CAPITAL MANAGEMENT LLC
- firstanalysis.com (opens in a new tab)
- LinkedIn (opens in a new tab)
- X (opens in a new tab)
- Team page (opens in a new tab)
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Record updated 29 September 2026
About
Advising and investing in growth-focused B2B tech companies for over 40 years.
Investment approach
- Thesis
- Our investment vision is clear: empowering entrepreneur-driven, capital-efficient growth companies. We target businesses with $1 to $10 million in annual recurring revenue within our focus sectors, investing from $3 to $10 million. Each year, we commit to only a small number of platforms, dedicating our resources for truly impactful engagement.Source (opens in a new tab)
- Takes board seats
- Yes
- Board policy
- This means more hands-on board involvement, fostering stakeholder alignment and achieving high-quality results with favorable valuations.
- Eligibility
- We target businesses with $1 to $10 million in annual recurring revenue within our focus sectors
- Traction requirement
- We target businesses with $1 to $10 million in annual recurring revenue within our focus sectors
- Investing status notes
- We don’t just invest – we partner.
Funds
- First Analysis Fund XIV-A, L.P.
- Vintage 2023Main fund
- First Analysis Fund XIV (Cayman), L.P.
- Vintage 2023Main fund
- FIRST ANALYSIS PRIVATE EQUITY FUND V-A, L.P.
- Main fund
- FIRST ANALYSIS FUND XII+, L.P.
- Main fund
- FIRST ANALYSIS FUND XII+ (CAYMAN), L.P.
- Main fund
- FIRST ANALYSIS PRIVATE EQUITY FUND V-C, L.P.
- Main fund
- FIRST ANALYSIS PRIVATE EQUITY FUND V, L.P.
- Main fund
- FIRST ANALYSIS FUND XIV, L.P.
- Main fund
SEC registration
- Registered adviser
- FIRST ANALYSIS CAPITAL MANAGEMENT LLC
- CRD number
- 161373 (opens in a new tab)
- SEC file number
- 801-74366
- Registration
- SEC registered
- Regulatory AUM
- $186Mas of 2026-05-10
- Private funds reported
- 8
- Principal office
- CHICAGO, IL, United States
- SEC CIK
- 1987996, 1988851
Locations
- Headquarters
- Chicago, Illinois, United States
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