VC firm
FPG
Also known as FPG Ad Astra, FPG Ad Astra IV, LLC, FPG Ad Astra V, LLC, FPG Ad Astra X, LP, FPG Ad Astra XI, LP, FPG Ad Claritas, FPG Ad Claritas I, LP, FPG Ad Claritas II, LP
- Investor type
- VC
- Headquarters
- CHICAGO, IL, United States
- Assets under management
- $1.6BForm ADV private fund GAV, as of 2026-05-13Source (opens in a new tab)
- Latest fund size
- $213MForm ADV gross asset value, as of 2024Source (opens in a new tab)
- Funds
- 38
- Legal name
- FIRST PRINCIPLES GROUP MANAGEMENT, LLC
- firstprinciples.group (opens in a new tab)
- LinkedIn (opens in a new tab)
- X (opens in a new tab)
- Team page (opens in a new tab)
Claim, correct or request removal
Record updated 30 September 2026
About
First Principles Group’s mission is to power progress by investing in visionary technologies shaping a bold future.
Investment approach
- Thesis
- At FPG, we believe first principles thinking is critical to successful outcomes. It not only guides our investment philosophy, it is present in everything we do. Investing should be straightforward, transparent, tailored to each individual — and even a little bit of fun. We look forward to navigating towards a brighter future for you, and humanity.Source (opens in a new tab)
Funds
- FPG Ad Astra XI, LP
- $9.3MVintage 2026, Main fund, SEC amount sold
- FPG Ad Ultra III, LP
- Vintage 2026Main fund
- FPG Ad Astra X, LP
- $25.5MVintage 2025, Main fund, SEC amount sold
- FPG Ad Claritas VI, LP
- $10.6MVintage 2025, Main fund, SEC amount sold
- FPG Ad Claritas IV, LP
- $10.1MVintage 2025, Main fund, SEC amount sold
- FPG Ad Ultra II, LP
- $9.3MVintage 2025, Main fund, SEC amount sold
- FPG Ad Novo III, LP
- Vintage 2025Main fund
- FPG Ad Claritas V, LP
- Vintage 2025Main fund
- FPG Ad Ultra I, LP
- $13MVintage 2024, Main fund, SEC amount sold
- FPG Ad Claritas II, LP
- Vintage 2024Main fund
- FPG Ad Claritas I, LP
- Vintage 2024Main fund
- FPG Ad Astra V, LLC
- $48.5MVintage 2023, Main fund, SEC amount sold
- More funds
- 26 more recorded
SEC registration
- Registered adviser
- FIRST PRINCIPLES GROUP MANAGEMENT, LLC
- CRD number
- 322950 (opens in a new tab)
- SEC file number
- 801-130840
- Registration
- SEC registered
- Regulatory AUM
- $1.6Bas of 2026-05-13
- Private funds reported
- 23
- SEC CIK
- 1981821, 1993583, 1996715
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