VC firm
FirstMile Ventures
Also known as FirstMile Ventures 2020, FirstMile Ventures 2020, L.P.
- Investor type
- VC
- Investing status
- Activeas of 2026-09-18Source (opens in a new tab)
- Headquarters
- COLORADO SPRINGS, CO, United States
- Assets under management
- $54.7MForm ADV private fund GAV, as of 2026-03-10Source (opens in a new tab)
- Latest fund size
- $5.8MSEC amount sold, as of 2020-07-23Source (opens in a new tab)
- Funds
- 5
- Check size
- $300K to $800KSource (opens in a new tab)
- Legal name
- FIRSTMILE VENTURES, LLC
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Record updated 29 September 2026
About
We aim to be the first partner to founders building generational companies in the largest tech hubs outside the coasts - Colorado and Texas.
Investment approach
- Thesis
- Our sector filter follows from our geographic focus: we back the best founders in Colorado and Texas, whatever they're building. In practice, that's mostly B2B software — SaaS, marketplaces, healthtech, and more — with selective exceptions for hardware and consumer when a team is too good to pass on. The consistent thread: strong founders, first check, close to home.Source (opens in a new tab)
- Leads rounds
- Sometimes
- Lead policy
- All of the above. We are comfortable negotiating a term sheet and leading a round. However, for rounds above $2,000,000 it is harder for us to lead from a check-size perspective.
- Reserves policy
- We reserve for follow-on primarily to get to Series A. That means we may participate in a bridge round or a late seed to help get the company in position for a Series A. We do not hold any reserves for companies that are raising Series A or beyond.
- Eligibility
- We will consider anything prior to Series A, but if you've already raised more than $2 million you're probably too far along for us. We like to see a product built, or at least a prototype, and a plausible path to the next round of outside financing if things go well with the round in which we're investing.
- Traction requirement
- We like to see a product built, or at least a prototype, and a plausible path to the next round of outside financing if things go well with the round in which we're investing.
- Investing status notes
- Our current portfolio strategy is to make 30-35 investments per fund. We typically add 8-12 new portfolio companies per year.
Funds
- FirstMile Ventures 2020, L.P.
- $5.8MVintage 2020, Main fund, SEC amount sold
- FIRSTMILE VCA 2024, LP
- Main fund
- PV VENTURES II, L.P.
- Main fund
- FIRSTMILE VCA 2020, LP
- Main fund
- FIRSTMILE VENTURES 2024, LP
- Main fund
SEC registration
- Registered adviser
- FIRSTMILE VENTURES, LLC
- CRD number
- 311699 (opens in a new tab)
- SEC file number
- 802-122044
- Registration
- Exempt reporting adviser
- Regulatory AUM
- $54.7Mas of 2026-03-10
- Private funds reported
- 5
- Principal office
- COLORADO SPRINGS, CO, United States
- SEC CIK
- 1818821
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